· The Central Okanagan Economic Development Commission recognizes best practises and economies of ... representing one of the highest levels of entrepreneurship in

www.peachland.ca _________________________________________________________________________________ PEDC Meeting Agenda

Thursday February 9, 2017, 7:00 P.M. Council Chambers – Community Centre

4450 6th Street, Peachland BC _____________________________________

1. Call to Order

2. Approval of the Agenda 3. Adoption of Minutes – January 12, 2017 4. New Business (brought forward for this meeting)

a) Guest Speaker, Krista Mallory, Business Development Officer of COEDC. Presentation of 2017 COEDC Operational Plan. Field questions how the PEDC fits into the greater regional economic development community.

b) Elsie Lemke. Meet with the committee seeking input on the Tax Revitalization Exemption By-Law.

c) PEDC website. Do we need to review, ways to increase exposure.

d) Attraction package - 1 year since completion. Staying current

5. Ongoing Business a) Strategic Brain Storming Session –bring forward ideas and suggestions for the proposed session. b) Strategic Plan Terms of Reference (TOR) document - to be reviewed and finalized. Identifies strategic objectives and meets with timing projections. c) Yearly Report to Council – Work in Progress. d) Budget needs / restraints

6. Reports a.) Council b.) Chamber c.) TPC

7. Next Meeting: February 9, 2017 8. Adjournment

Meets at 7:00 P.M. - Council Chambers.

________________

CHAIR Christine Heinrick

VICE-CHAIR

Rick Tench

SECRETARY Virginia Schmidt

MEMBERS: Christine Heinrick, David Stuart, Rick Tench, Steven

James, Rocky Rocksborough-Smith,

Virginia Schmidt, Councillor Pam

Cunningham, Councillor Mike Kent

Council Alternate:

Councillor Peter Schierbeck

http://www.peachland.ca/

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2017 OPERATIONAL PLAN

www.investkelowna.com

Economic Development Commission Regional District of Central Okanagan

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Contents

One Page Strategic Plan ............................................................................................................................ 0

Executive Summary ................................................................................................................................... 1

2016 Highlights ......................................................................................................................................... 2

Active Partnerships ................................................................................................................................... 2

COEDC Advisory Board of Directors .......................................................................................................... 3

Strategy Rationale ..................................................................................................................................... 5

Economic Imperatives ............................................................................................................................... 5

Business Retention and Enhancement ................................................................................................. 6

Investment Attraction ......................................................................................................................... 15

Coordination & Facilitation ................................................................................................................. 22

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One Page Strategic Plan

Central Okanagan Economic Development Commission Strategic Plan Mandate: Working in partnership, to facilitate and encourage the development of a healthy and dynamic sustainable community economy by supporting existing businesses and encouraging appropriate new business investment within the Regional District of Central Okanagan.

Top Regional Priorities � Increase awareness and profile of the Central Okanagan

provincially/nationally/internationally � Continue to accelerate position as a destination for entrepreneurs,

companies and skilled workforce � Enhance the environment for small and medium enterprise growth � Drive economic growth in key sectors

COEDC’s Role to Achieve Priorities � Connection: Be a conduit for industry, post-secondary, community

stakeholders and government, providing leadership, connection and expertise

� Brand: Promote and increase awareness of the region through

unified messaging � Profile: Raise awareness of existing local companies, individuals

and opportunities to increase the profile of the region

Top Initiatives in 2017

Status Aerospace Core Competency Study Craft Beverage Incubator feasibility study Development and distribution of assets for regional promotion

Ex-Pat Recruitment Collection and dissemination of real-time labour market intelligence

Delivery of 1:1 expertise to businesses

Metrics

2017 2018 YTD Businesses visited/engaged (#) Business license retention rate (%) Assets developed (#) Website visits (#) Referrals B2B, B2service provider (#) Partners (#) Regional promotion conversion rate (%)

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2017 COEDC Operational Plan COEDC MANDATE

Working in partnership, to facilitate and encourage the development of a healthy and dynamic sustainable community economy by supporting existing businesses and encouraging appropriate new business investment within the Regional District of

Central Okanagan.

Executive Summary The Central Okanagan Economic Development Commission (COEDC) is funded by and accountable to the elected board of the Regional District of Central Okanagan; it is made up of two unincorporated electoral areas and the five member municipalities and governments of Lake Country, Kelowna, Westbank First Nation, West Kelowna and Peachland. The Central Okanagan Economic Development Commission recognizes best practises and economies of scale by leveraging both financial and human capital resources through successful federal, provincial and community partnerships and alignment of priorities. Measurements of the Commission’s activities are provided to the Regional District of Central Okanagan Board of Directors through quarterly reporting and annual reporting mechanisms. The 2017 Operational Plan outlines the Commission’s objectives, challenges and tactics developed to capitalize on the Region’s economic opportunities within three primary programing streams– Business Retention & Enhancement, Investment Attraction and Coordination & Facilitation.

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2016 Highlights

Active Partnerships As the region’s Primary Resource for Business, the Central Okanagan Economic Development Commission acts as a conduit and connector and recognizes best practises and economies of scale by leveraging both financial and human capital resources through successful federal, provincial and community partnerships and alignment of priorities.

Redesigned and updated InvestKelowna.com with federal matching dollars

One-on-one expertise provided to over 330

businesses

Recipient of Excellence in Economic Development Gold

Award from International Economic Development

Council

115 business recieved export related expertise and

assistance

Provided Location Assistance to 59 Foreign Individuals

From 9 Countries

Launched MakeItHereOkanagan.com

and additional assets

Connected to 252 Businesses through Business

Walks Program

Delivered 69 economic climate presentations to

businesses and organizations

Implemented Regional Account Management

System and licensed use to municipalities

Assisted in the placement and relocation of 75+ talented tech workers with local companies

OYP Connected 33 Young Professionals to

Stakeholders &/or Job Placements

Responded to over 15,000 Inquiries

Government

• Municipal • Provincial • Federal

Industry

• Industry Associations

• Central Okanagan Companies and Industry Leaders

Community

• Post-Secondary Institutions

• Business Support Organizations

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COEDC Advisory Board of Directors Although accountable to the Regional District of Central Okanagan Board, the COEDC has a 40+ member advisory body including representatives of business associations, local government, and key industry leaders of Agriculture, Advanced Manufacturing, Professional Services, Construction & Development, Technology and Tourism. The Advisory Board acts as a conduit of community and business information, providing staff with the ability to identify tactics, activities and partnerships in order to facilitate a healthy, dynamic and sustainable community economy. New to the Advisory Board in 2017:

Janice Larson

BC Ministry of Technology, Innovation and Citizen’s

Services Executive Director, Regional Innovation

Initiative

Matt Gomez Soil Mate

CEO & Founder

Sector: Agriculture

Chris Lapointe Flair Airlines Ltd VP Commercial

Operations Sector: Aerospace

Chris Mazurkewich Interior Health Authority

President & CEO

Sector - Healthcare

2017 COEDC Advisory Board

Executive Domenic Vinci, Chair Financial Services David McDougall, Vice Chair Food & Bev. / Small Business Victor Narynskyyi, Past Chair Professional Services Martin Cronin Technology/Advanced Manufacturing Raghwa Gopal Technology/Venture Capital Jim Grant Accounting/Professional Services Murray Ramsden Health Care Industry Leaders Representing Local Business Community James Calissi Calissi Farms Agriculture

Mike Checkley QHR Technologies Health Care/Technology Matt Gomez Soilmate Agriculture Alex Greer Adaptive Ventures Inc Technology/Manufacturing Lynn Heinrich SunRype Manufacturing/Food Processing Peter Jeffrey Okanagan Peer Mentoring

Groups Manufacturing

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Brad Klassen Troika Group Construction/Development Chris Lapointe Flair Airline Ltd Aerospace Chris Mazurkewich Interior Health Health Care Karen Olsson Community Sift Tech - ICT Kale Wallgren WSP Canada Inc. Professional Services Directors Appointed and Staff Representing Local Government BC Ministry of Jobs, Tourism and Skills Training

Economic Development, Thompson Okanagan

Myles Bruns

BC Ministry of Technology, Innovation and Citizens' Services

Regional Innovation Initiatives Janice Larson

City of Kelowna Economic Development Robert Fine City of Kelowna Councillor Brad Sieben City of West Kelowna Economic Development John Perrott City of West Kelowna Councillor Bryden Winsby District of Lake Country Economic Development Jamie McEwan District of Lake Country Councillor Matt Vader District of Peachland Economic Development Kevin Taylor District of Peachland Councillor Peter Schierbeck Regional District of Central Okanagan Board Chair Gail Given Westbank First Nation Economic Development Mandi Carroll Westbank First Nation Councillor Fernanda Alexander Directors Appointed From Partner Organizations Accelerate Okanagan Brea Retzlaff, Operations Manager Business Development Bank of Canada Martine Hickman, Business Centre Manager Community Futures of the Central Okanagan Larry Widmer, Manager Greater Westside Board of Trade Gary Schlenker, Board of Directors Vice-Chair Kelowna Chamber of Commerce Ken Carmichael, Board of Directors Past President Kelowna International Airport Sam Samaddar, Airport Director Lake Country Chamber of Commerce Kim Kristiansen, Manager Okanagan Centre for Innovation Kelsey Helm, Director, Wheelhouse Ventures Okanagan College Heather Schneider, Regional Dean Central Okanagan Okanagan Mainline Real Estate Board Lynette Keyowski, Executive Director Peachland Chamber of Commerce Peter Stapleton, Board of Directors Tourism Kelowna Daniel Bibby, Board of Directors Chair University of British Columbia-Okanagan University of British Columbia-Okanagan

Phil Barker, Vice-Principal Research Okanagan Nicole Udzenija – Director, Campus Initiatives

Women’s Enterprise Centre Laurel Douglas, CEO

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Strategy Rationale The programs and initiatives in the 2017 Operational Plan are derived from several guiding strategies and align with strategic priorities set by the Regional District of Central Okanagan and member municipalities and governments. Key guiding documents include the Regional Growth Strategy, Growing in the Okanagan – 2020 Labour Market Outlook and its corresponding HR Implementation Plan and the Economic Opportunities to 2020 Strategy for the Central Okanagan Region.

Economic Imperatives Understanding the region’s competitive advantages and available resources are important considerations as the COEDC develops a plan and incorporates initiatives that will not only foster innovation, employment creation and business development, but also fully leverage existing companies, assets and resources while identifying future opportunities that will facilitate economic growth. By focusing the region’s economic development service delivery, strategically engaging leadership within the private sector, and creating a place where innovation and connections can take place, the Central Okanagan region is looking to become known for its strong talent pool and as a destination for innovative companies. The COEDC focuses its delivery of programs and services under the following three programing streams: Business Retention & Enhancement, Investment Attraction and Coordination & Facilitation.

http://www.regionaldistrict.com/your-services/planning-section/regional-growth-strategy.aspx

http://www.investkelowna.com/sites/default/files/uploads/growingintheokanagan_labourmarket2020.pdf

http://www.investkelowna.com/sites/default/files/uploads/growingintheokanagan_labourmarket2020.pdf

http://www.investkelowna.com/application/files/4714/8097/7317/HUMAN_RESOURCE_STRATEGY_AND_IMPLEMENTATION_PLAN.pdf

http://www.investkelowna.com/sites/default/files/uploads/economic_opps_to_2020_report.pdf

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Business Retention and Enhancement The Central Okanagan region’s small business community is the backbone of the local economy. It is important to highlight that 95% of Central Okanagan (Kelowna CMA) businesses have fewer than 20 employees and 54% have no employees, representing one of the highest levels of entrepreneurship in Canada. In 2016, the Canadian Federation of Independent Businesses called the Central Okanagan the most entrepreneurial region in Canada. Intelligence collected through the COEDC’s 330+ one-on-one site visits in 2016 indicated that over 70% of businesses rated the local business environment as highly positive (8/10 or higher) and over 80% of businesses project higher than 10% growth in revenue in 2017.

Regional business intelligence collected by COEDC and partners and collated in regional account management system implemented in 2016

Small businesses are the primary providers of private sector jobs in British Columbia, reflecting an important and ongoing trend toward economic diversification while representing a key source of innovation. Research has shown that up to 80% of new jobs created come from existing businesses. Implementing an economic development strategy that supports business retention and enhancement represents a more cost effective approach to job creation than the attraction of new businesses. The COEDC recognizes the importance of sustainable economic growth and positions business retention and enhancement initiatives as a core component of its programming. Following best practice models and a collaborative approach, the Commission provides one-on-one expertise and assistance to the business community through its business retention and enhancement activities.

Local farm operator and recipient of Agricultural Support Services

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Business Retention and Enhancement Program

Objective: • Connect with Central Okanagan businesses and gather industry intelligence

to help identify barriers and opportunities for business in the region

Program & Tactics Outcomes Measurement Guidelines

Site Visitation Conduct 150-200 site visits to businesses in a variety of industries throughout the region, with a focus on agriculture, manufacturing, technology and aerospace Collect business intelligence on the above key industry sectors that can be used for future programming for the Commission Identify businesses that require on-on-one assistance and connect them to support agencies and programs Identify training and workforce needs to communicate with post-secondary institutions, while disseminating labour market information and awareness through one-on-one contact with employers

• Direct connection with

businesses in the region

• Increased industry intelligence for key economic sectors

• Connect industry with relevant COEDC programs. Ex: Magnet, OYP Collective, Export Development

• Improve connections

between employers and training institutions and alignment of skills with employer needs

• # of site visits

• # of connections

between businesses

• # of referrals to business service providers

• # of businesses

receiving follow-up one-on-one assistance

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Objectives: • Increase awareness and profile of agriculture in the region and enhance

connections among businesses • Disseminate agriculture sector intelligence • Provide one-on-one assistance to farmers and agriculture-related businesses


Agriculture & Agri-Tourism Program Facilitate 2-3 strategic agriculture-related events. Topics to be determined based on industry needs as determined by 2016 and 2017 site visitation program Perform a minimum of 15 site visits to agriculture businesses and provide additional one-on-one follow up and business development expertise as required

Update Economic Profile for Agriculture to include recent trends, updated statistical information and current links Create 8-10 Central Okanagan farm operator profiles to be featured on COEDC website and social media and external media sources

• Provide relevant information to the agriculture sector

• Improved connection between agriculture businesses and service providers in region

• Increased industry

intelligence for the agriculture sector

• Communication of

industry intelligence / needs

• Increased awareness of

agriculture as a viable business in the region

• # of participants

• Feedback from participants

• Data collected from

site visits

• # of referrals to service providers

• # of one-on-one

follow up requests

• # of profiles published

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Objectives: • Collect, communicate and promote the Central Okanagan business climate • Collect and communicate workforce needs of the business community with

post-secondary institutions • Connect businesses to support agencies and government programs • Identify businesses requiring one-on-one assistance • Connect businesses with one another to promote cross-collaboration


Small Business Walk, October 2017

Use Business Walks data to improve business retention and enhancement programing within the region Help businesses maximize use of programs/services available to them that support growth Connect businesses within region that could potentially collaborate with one another Coordinate response to businesses surveyed requiring follow up A component of this program to include focus on Human Resources and Workforce Development, including enhanced relationships between industry and post-secondary institutions

• Increased regional data – understanding of gaps and opportunities

• Increased availability of data regarding workforce needs/challenges - understanding of workforce gaps and training opportunities

• Collaboration

opportunities between industry and training institutions

• Improved regional cohesion

• Opportunity to connect businesses within the region

• Stronger engagement with business leaders

• Increase in # of businesses receiving assistance

• # of partnerships

• # of business visited

• # of businesses receiving follow up one-on-one assistance

• # of cross referrals

between businesses with agencies providing support services to small businesses

• # of connections between available talent and industry

• Creation of initiatives/projects

• Web and social media counts

• Volume of media coverage

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Objectives: • Work to identify and communicate HR & workforce development challenges

in the region • Aim to identify skill training gaps and communicate with post-secondary

institutions • Develop opportunities to connect employers with skilled workforce


Real-time Labour Market Intelligence Obtain and disseminate quarterly aggregated local hiring demand and labour supply data Identify in demand occupation classes, industries, educational requirements and skills and “snapshot” of active labour market Improve alignment of employer hiring needs Increase understanding of the region’s labour market by leveraging data analytics New Program

• Increase in information

available to address employer recruitment challenges and local unemployment numbers

• Increased understanding of the labour market in the region among partners/stakeholders

• # of quarterly

reports issued

• # of partners utilizing data to improve programming (post-secondary, governmental, industry associations etc)


Workforce Development - Magnet Maintain a single online “job platform” with a regional focus to streamline the employment search process Improve opportunities for career searchers and employers in the Central Okanagan by streamlining communications and making connections in a direct and effective way

• Increased connections

between job seekers and employers

• Provide a mechanism to address unemployment and the hidden job market in the region

• # of job seekers that

find employment

• # of jobs that are successfully filled

• # of partner

organizations that create their individual Magnet portal

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Workforce Development - Connector Program Implement Connector Program to match new residents, local and international graduates and spouses/partners of new residents (connectees) with well-networked local employers, civil servants and community leaders (connectors) based on industry experience, professional backgrounds and sector of interest. Provide tool to address the challenge faced by many professionals who live in/move to the Okanagan with their spouse and only one of them is able to find employment in their field Improve retention and integration of young professionals and recent graduates in the region by facilitating accelerated access to networks Program to be based on successful initiative and recognized best practice by the Halifax Partnership. New Program

• Attraction and

retention of skilled workforce and their families

• Decrease in the number of families who leave the region due to the inability to find employment

• Improved retention of

post-secondary graduates in the region

• # of new residents,

graduates and young professionals connected (connectees)

• # of connectors

• # of connectees that find employment as a result of the program


Make it Here - Branding Central Okanagan Region Continue to develop and distribute assets highlighting the region as a thriving place to work with opportunities in a diverse range of sectors. Expand focus from Technology/Information and Communications Technology sectors to other sectors including aerospace and agriculture Focus will be on digital media, including content marketing, website, social media, newsletters, videos, etc in addition to the creation of a suite of templated Make It Here print and digital materials targeted towards workforce and sector specific

• Increased awareness of the Central Okanagan outside of the Region

• Increase in the number of entrepreneurs and skilled labour that move to the region

• Highlight the region’s growth sectors and the opportunities available

• # of visits Make it Here website

• # of Make it Here videos created

• # of social media and newsletter postings

• # of partners using

brand

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investment attraction Leverage partnerships and include Make it Here messaging in existing program communications. Ex: OYP Collective’s Boomerang Campaign, Magnet, metabridge, Accelerate Okanagan etc

• Attraction of skilled workforce and companies to the Central Okanagan

Objectives: • Retain and Attract Young Professionals to the Central Okanagan • Create a dynamic, vibrant and engaged culture and community for young

professionals • Assist in fostering sense of community among young professionals


Okanagan Young Professionals Collective Develop and implement strategies to retain and attract young professionals to the region

Continue to build capacity, culture and network of OYP partners and individuals

Enhance relationships with UBCO & OC through on and off campus events, professional development presentations and student association partnerships as a means of retaining skilled young professionals in the Central Okanagan

Host/Support a minimum of three nationally recognized events

Continue to implement ‘Boomerang’ campaign in partnership with OC/UBCO alumni & establishments across Canada promoting “Coming home to the Okanagan”

Partner with local employers to retain and attract young professionals through facilitated job matching activities

Continue to develop online resources to promote and provide relocation information, including a minimum of 10 videos highlighting local young professionals

• Increased engagement

with post-secondary institutions through partnerships w/ MSA Program (UBCO), Enactus (OC) and work with various student clubs (OC & UBCO)

• Growth of local companies through workforce retention and recruitment assistance

• Increased awareness of region through hosting of nationally recognized events

• Development of strategic partnerships with industry associations

• Development of

relationships with

• # of jobs attained by secondary graduates as a result of OYP tactics

• # of successful retention and relocation stories

• # of partnerships

and collaborations

• # of Facebook likes, twitter followers, COEDC/OYP newsletter subscribers

• # of connections

• % of population growth

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young professional groups to increase reach

• Increased awareness of professional opportunities for young professionals in the region


Innovation Generation Challenge Partner with Central Okanagan Public Schools on program which promotes an entrepreneurial and innovative mindset by creating opportunities for middle and secondary school students to build viable businesses

• Increased awareness of

entrepreneurship as a career option and promotion of entrepreneurial mindset

• Development of relationships between COEDC, Central Okanagan Public Schools, local employers and students

• Amount of sponsorship $

• # of partners participating as sponsors and/or judges

• # of student teams

participating

• Ongoing businesses created

Objective: • Create business guidance informational sessions as one resource to facilitate

business growth


Business Beyond Borders Facilitate 2-4 business enhancement sessions targeting business development topics as well as sector-specific sessions in partnership with community stakeholders Ex: Succession Planning, Financing Resources, China Business Roundtable, etc

• Increased

understanding of business or sector gaps and opportunities

• Ability to address barriers more quickly and facilitate tools for growth and expansion

• # of inquiries,

attendees and response ratings

• B2B matches

• B2C matches

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• Strengthened role as a

credible source of information on the local economy

Objective: • Provide expertise and guidance to export ready businesses


Export Development Provide export related expertise & one-on-one support to up to 20 export related businesses Conduct site visits to support export development initiatives Facilitate international trade opportunities with government & partners

• Support businesses in

developing or strengthening global markets & trade

• Increased capital for

growth sectors • Increase in exports and

growth in exporting companies

• Support growth by

providing start-up and business guidance

• # of businesses

engaged

• # inquiries

• # B2B matches

• # B2C matches

• # trade initiatives, programs and delegations

• # of existing exporters ready to enter new markets

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Investment Attraction The Central Okanagan region has a solid base of mature industries, a well-developed infrastructure, strong intellectual capital (University of British Columbia Okanagan and Okanagan College), a growing number of niche leaders, a supportive structure for entrepreneurship and a very high quality of place and lifestyle opportunities. All these factors contribute to the region’s ability to create an innovative ecosystem that will, in conjunction with strategic economic development initiatives, attract a diversity of human and business capital. As more communities have realized the opportunities to attract businesses, the level of competition between communities has increased. An increased level of global competition means communities have to focus efforts on strategies that maximize their competitiveness. On its continued mandate to develop a healthy, dynamic and sustainable community economy, the Commission’s investment attraction initiatives leverage the region’s assets to target appropriate business investment and drive growth in key sectors. A major factor in a company’s location decision is access to talent. Attraction and recruitment of human capital is not only regarded as a best practice tool in economic development but also a key element for any community to compete in the global marketplace. By implementing targeted strategies that centre on workforce development, communities not only ensure their competitiveness in attracting talent but also businesses.

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Investment Attraction Program

Objectives:

• Contribute to the growth of the aerospace sector in the Central Okanagan • Attract companies that will strengthen the regional supply chain in the

Central Okanagan


Aerospace Competency Study Conduct research study to assess the core competencies and capabilities of the Central Okanagan aerospace sector Identify mechanisms and tactics to target FDI in the sector New Program Federal Funding Dependent

• Increased understanding of

the aerospace sector in the Central Okanagan

• Improved cohesion among regional partners to attract, retain and drive growth in the sector

• Attraction of aerospace

investment to the region

• # of B2B connections

• # of partners engaged in

study

• # of tactics identified

• # of leads generated

Objectives: • Foster economic opportunities in the craft beverage sector • Attract companies and skilled workforce to the region


Craft Beverage Incubator Feasibility Study Conduct feasibility study to assess viability, recommended governance/revenue models and economic benefits of a craft beverage incubation facility in the region Engage stakeholders including municipalities, post-secondary, tourism partners, farm operators and industry to develop vision

• Attraction of craft beverage

producers to the region

• Growth of new and existing local companies

• Increased crop feasibility information for agriculture sector (hops, cider apples)

• Enhanced quality of place for the attraction of tourists and workforce

• # of partners engaged

• # of tactics identified

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for the sector New Program Partner & Funding Dependent

• Potential job growth in the

manufacturing, agriculture, retail and tourism sectors

Objectives: • Contribute to the growth of the tech sector in the Central Okanagan • Attract entrepreneurs, skilled workforce, students and families to the

Central Okanagan


Metabridge Partner (Program connecting top Canadian start-ups to Silicon Valley) Provide support to metabridge in efforts to identify FDI targets leveraging upon metabridge’s flagship event in June COEDC hosting targeted FDI activities to promote investment attraction opportunities

• Increased awareness

of the Okanagan as a place to live and invest

• Growth of local tech companies

• Attraction of tech

start-ups to the region

• # of leads generated

• # of entrepreneurs

locating to the region

• # of U.S. inbound delegations

• # of COEDC event participants


Accelerate Okanagan Partner Align with Accelerate Okanagan strategies to foster a positive climate for the technology sector Partner with Accelerate Okanagan in promotion and marketing efforts to attract technology sector entrepreneurs and workforce Provide support for Accelerate Okanagan events and initiatives and facilitate Okanagan presence at outbound events including TechFest and #BCTECH Summit in Vancouver, BC

• Improved climate for

tech start-ups in the region

• Growth of local tech companies

• Attraction of tech

start-ups to the region

• Increased impact and leveraging of economies of scale through alignment of priorities

• # of leads/referrals

generated

• # of entrepreneurs locating to the region

• # of job postings filled

• # of events

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Technology Sector Attraction Program Market the Central Okanagan, in both domestic and international markets, as a place for entrepreneurs and skilled labour to move to. Particular focus will be on the technology sector 2017 tactics and activities to be determined in alignment with partners. Activities to include both domestic (Toronto, Lower Mainland) and international (UK, US) markets *In partnership with the Province of British Columbia, attend targeted technology-focused events

• Game Developers Conference (GDC) – February 27 – March 3, San Francisco, California

• #BCTECH Summit – March 14-15, Vancouver, BC

• TECHfest – March 15, 2017, Vancouver, BC

Other potential partners include: Accelerate Okanagan, Okanagan Centre for Innovation, Okanagan College, private industry *Dependent on federal, provincial and industry partnership(s) and industry need Expanded Program


of the region as a technology & animation hub

• Attraction of entrepreneurs and talent to the region

• Technology companies

considering and relocating to the Central Okanagan (multi-year outcome)

• # of events attended

• # of inquiries as result of activity

• # of investment attraction leads

• # of partnerships developed

• # of entrepreneurs relocating to the region

• # of skilled labour relocating to the region

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Expat Recruitment in International Markets Target Canadians that have relocated to international markets and entrepreneurs that can bring expertise and investment resources to the region. Facilitate the creation of an Expat database of individuals interested in relocation or investment in the Central Okanagan. 2017 tactics and activities to include digital marketing and in market activities targeting the US (California) and Asia-Pacific (Hong Kong) markets in alignment with federal and provincial partnerships. Federal/Provincial Partnership Dependent

• Attraction of entrepreneurs, investors and talent to the region

• Increased investment

capital to support local start-ups and companies

• Increased number of

technology leaders in the region

• # of inquiries as result of activity

• # of entrepreneurs relocating to the region

• # of capital invested

by Expats in the region


Partnership with Okanagan Film Commission Partner with Okanagan Film Commission to facilitate an Okanagan presence, generate B2B connections and recruit skilled workforce at industry events including Sheridan College Animation Industry Day (Toronto) Work with target of 20 gaming and animation businesses currently located in Vancouver to pitch the Okanagan for relocation/expansion Support initiatives to develop studio space and other film industry assets in the Okanagan

• Attraction of skilled workforce, companies and investors to the region

• Increased film and

animation activity and investment in the region

• Increase profile and

awareness of region nationally and intentionally

• # of events hosted/attended

• # of skilled workforce relocation leads

• # of investment attraction leads

• # of film production

activity in the region

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Objectives: • Promote business/career opportunities, and highlight the Central

Okanagan as a place for skilled workers, businesses and families to relocate to


Skilled Labour Recruitment - Healthcare Facilitate partnership with the Interior Health Authority (IHA) and Central Okanagan Division of Family Practice to identify tactics to support recruitment programming and activities particular to the healthcare industry *Dependent on partnerships

• Attraction of skilled

healthcare professionals to fill in-demand positions in the region

• Increased human capital, not only from healthcare professionals but also from their families

• Increased knowledge

of in-demand occupations to be communicated to training institutions

• # of skilled

healthcare professionals that move to the region

• # of recruitment

activities

Objectives: • Promote the Central Okanagan as a place for investment in the global

marketplace


COEDC Website and Digital Communication Tools Publically launch redeveloped & redesigned COEDC website with enhanced content and relevant information for the attraction and retention of skilled workforce and companies to the Central Okanagan region, as well as promotion of the range of programs and services offered by the Commission


of Central Okanagan in targeted markets


of region’s assets and competitive

• # of visits

• # of inquiries

• # of investment

prospects

21

Expand web content to market the region digitally to site selectors, companies and individuals through website and social media, including blog series and photo essay gallery. Provide opportunity for municipalities/governments to contribute to content for municipal promotion through the COEDC website and content marketing. New Program

advantages

• Updated information and enhanced ease of use available for site selectors, skilled workforce and other target markets

• # of site selection inquiries

• # of downloads

COEDC reports/resources

• # of blog posts and

web content

Objective:

• Work collectively to increase knowledge of the Central Okanagan as a place for investment in the global marketplace


Okanagan Valley Economic Development Society (OVEDS) Actively participate in the OVEDS to identify projects to collectively market the Central Okanagan as a place for investment Including tactics and activities at:

• Regional Economic Profile • ICSC, Whistler Jan 29th – 31st • Industry/sector specific events and

projects TBD

• Increased Okanagan

presence in targeted markets


of region’s assets and competitive advantages

• # of projects

• # of web counts

• # of investment

prospects

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Coordination & Facilitation The COEDC is a catalyst, a conduit and a connector to bring businesses, organizations, government and the community together for projects and initiatives that benefit the region’s vitality and economic well-being. By engaging directly and communicating with community leaders, the COEDC gains a better understanding of the region’s challenges and opportunities and is able to develop programs and services that facilitate sustainable economic growth.

Coordination & Facilitation

Objectives: • Facilitate increased cohesion among economic development organizations,

business service providers and the private sector in the region • Positively impact the ability for businesses to grow and sectors to connect in

the Central Okanagan

Program & Tactics Outcomes Measurement Account Management System – Economic Development Organizations (EDO) Continue to host and provide EDOs with support and licensed use of regional account management system to record site visitations and business walk information. Expand use of system to capture inquiries and lead generation

• Cohesive economic development delivery

• Clear division of roles and responsibilities for each EDO

• Recognition of areas of opportunity and how to effectively address at local level

• Enhanced understanding

of business community in region

• Database containing

detailed info for businesses in Central Okanagan

• # of businesses

entered in account management database

• Consistent use of account management software by EDO

23


Quarterly Economic Development Organizations (EDO’s) Meetings Enhance the lines of communication and cohesion amongst the EDO’s in the region by facilitating quarterly meetings with the purpose of aligning priorities, avoiding duplication of services and leveraging resources

• Identification of cross-

collaboration opportunities

• Increased information sharing between communities

• Identification of

economic development program and service gaps

• # of EDO’s attending

meeting

• # of cross-collaboration opportunities identified


Business Service Provider Roundtables Facilitate two roundtable sessions for business service providers to share information on programs and services available to local businesses

• Increased knowledge of

business service providers’ programs available to the community

• Increased cross-referrals

and collaboration between service providers

• # of roundtables

• # of business service

providers participating at roundtable

• # of referrals


Sector Development Program Working in partnership with industry, post-secondary institutions, community organizations and local EDO’s to identify strong sector niches where cross-over opportunities exist Leverage information gathered via Account

• Identification of sectors

with growth potential in region

• Identification of cross-sector opportunities and connect leaders in these

• Key sectors and

potential niches identified

• Needs assessment for selected sectors

24

Management System and direct contact with regional & industry leaders to build programs that encourage growth across sectors sharing common needs Leverage the influence and diversity of the advisory board and utilize advisory board meetings as forum to increase awareness of key sectors and cross-sector opportunities *Multi-Year Initiative

sectors • Development of

partnerships and relationships between sectors in the region

• # of cross-over opportunities identified and companies connected


Air Service Development Work in partnership with Kelowna International Airport (YLW), Tourism Kelowna, Thompson Okanagan Tourism Association (TOTA) and other community stakeholders and participate as an active member of YLW’s route development task force *note that several of COEDC’s projects in domestic and international markets are in part developed to support existing and incoming air route development. i.e. Europe, U.S. and Canada

• Increased

infrastructure/air service

• # of increased air

access/routes


Municipal Economic Development Committee Advisor

Hold advisory position on economic development committees at member municipalities/governments. Provide guidance and keep committees informed of economic initiatives at regional level to ensure alignment and eliminate overlap.

• Increased sharing of

economic development knowledge and expertise

• Identification of opportunities for collaboration

• # of committees

• # of

opportunities identified

25

between communities

• Identification of gaps or overlap in economic development initiatives

Objective: • Develop awareness of economic climate in the region through various data

delivery mechanisms • Inform partner organizations and the business community of range of

COEDC programs and services


Publications & Resources Develop and distribute economic climate, business enhancement, investment attraction publications and resources. Including but not limited to the following publications:

1. Central Okanagan Regional Profile 2. Central Okanagan Community Profiles

(Lake Country, Kelowna, West Kelowna, Peachland, Westbank First Nation)

3. Business Resource Guides (Regularly Updated) (Ex: Business Services, Financing, Manufacturing, Agriculture, etc.)

4. Targeted Make It Here digital and print resources

5. Quarterly labour market reports 6. Bi-monthly newsletter 7. Social Media, general and focused to

targeted markets 8. Other targeted assets

• Increased knowledge of regional economy, growth sectors and needs of the business community

• Identification of the

region’s business attributes and assets

• Outflow of

communication and information resources for people & businesses

• Enhanced ability to

respond to inquiries from domestic and international markets

• # of inquiries

• Web and social

media counts

• Volume of media coverage

• % of newsletter

distribution growth

• # of downloads


26

Economic Climate Awareness Sessions & Community Engagement Sessions Deliver presentations on the economic climate of the region to businesses and organizations interested in learning more about the current state of the Central Okanagan’s economy Deliver presentations on mandate of the COEDC and updated programs and services for 2017 to staff of member municipalities/governments (Lake Country, Kelowna, West Kelowna, Peachland, Westbank First Nation), business service organizations and key stakeholders Facilitate opportunities for municipal and economic development staff to co-present with COEDC 2017 goal: a minimum of 50 presentations to targeted stakeholder groups and as requested by the community

• Increased knowledge of economic climate and trends of the region

• Identification of the

region’s key economic drivers and competitive advantages

• Increase in stakeholders’

ability to service clients

• Increase awareness of COEDC programs

• Facilitate the COEDC as the first point of contact for inquiries

• Engaged partners

• # of presentations

• # of inquiries

resulting from presentations

• Web and social

media counts

• % of newsletter distribution growth

PEDC BRIEFING Date: February 1, 2017

TO: Peachland Economic Development Committee FROM: Elsie Lemke, Chief Administrative Officer SUBJECT: Revitalization Tax Exemption Bylaw – Extension to 2019 The first Revitalization Tax Exemption (RTE) Bylaw adopted by Council in early 2013 has now expired. Council has identified extending the tax exemption bylaw for an additional three years as a strategic priority, in support of their goal of attracting investment to downtown Peachland. A successful Revitalization Tax Exemption program is one that meets a community’s goals with respect to attracting investment that might not otherwise happen on its own, or in the time frame desired, and minimizes the risk of unnecessarily foregoing much needed tax revenue and having this burden allocated onto other tax payers. Peachland’s proposed RTE bylaw focuses revitalization incentives in the existing downtown area, could be attractive to existing businesses considering renovations or new construction, and is highly competitive with neighboring communities. (In the Central Okanagan, West Kelowna and Summerland have no revitalization tax exemption bylaws, and Kelowna’s focuses primarily on larger investments of over 40,000 square feet and over $300,000 in value.) Unfortunately, the RTE program was accessed only once in the preceding three years, for a renovation project. The PEDC played an integral role in the initial RTE bylaw by providing input and advice to Council. Further, in 2015 the PEDC recommended to Council that an evaluation be conducted on Peachland’s RTE bylaw, as compared to adjacent communities. This evaluation was completed in mid-2016, and found that Peachland’s RTE program is highly competitive with neighouring communities, specifically as it pertains to minimum construction values required to trigger the bylaw. No changes were recommended to the bylaw at that time. The PEDC is invited to comment on the RTE bylaw before it proceeds to Council for adoption. Based on the comparative report prepared in 2016, Council is not proposing any changes to the bylaw, except to extend it for an additional 3 years. I would be pleased to present the RTE program to PEDC members at their next regular meeting, to provide background information, and answer any questions that may arise. Any comments on the RTE program can be submitted to me at [email protected] within 30 days of the presentation, if possible.

mailto:[email protected]

THE CORPORATION OF THE DISTRICT OF PEACHLAND

BYLAW No. 2035, 2012

A Bylaw to provide for a revitalization tax exemption _____________________________________________________

WHEREAS the Council of the District of Peachland may, by bylaw, provide for a revitalization tax exemption program in accordance with Section 226 of the Community Charter; AND WHEREAS Council wishes to establish a revitalization tax exemption program to encourage property investment and revitalization in the Revitalization Area; AND WHEREAS Council’s objective is to stimulate and reinforce development initiatives in the Revitalization Area by promoting property investment within the Beach Avenue South and Waldo Way South precincts (as identified in the Sustainable Downtown Peachland Plan) and to reinforce the District’s investment in infrastructure upgrades and beautification projects; AND WHEREAS Council has designated the Revitalization Tax Exemption Area pursuant to the District of Peachland’s Official Community Plan, Sustainable Downtown Peachland Plan; AND WHEREAS the Community Charter provides that a revitalization tax exemption program bylaw may only be adopted after notice of the proposed bylaw has been given in accordance with Section 227 of the Community Charter; NOW THEREFORE, the Council of the District of Peachland, in open meeting assembled, enacts as follows: INTERPRETATION 1. In this bylaw:

“Agreement” means a revitalization tax exemption agreement, as set out in Schedule “B” attached hereto and forming part of this Bylaw, between the owner of a property located in the Revitalization Area as set out on Schedule “A” attached hereto and forming part of this Bylaw;

“Assessed Value” will have the same meaning as set out in the Assessment Act;

“Base Amount” means an assessed value of land and improvements used to calculate municipal property tax payable (excluding specified area levies) on a Property located in the Revitalization Area during the Base Amount Year;

“Base Amount Year” means the calendar year prior to the first calendar year in respect of which an Agreement applies to a property in the Revitalization Area and/or the calendar year in which the Revitalization Tax Exemption Certificate is issued;

“District” means the District of Peachland;

Bylaw No. 2035 Page 2

“Corporate Officer” means the Corporate Officer of the District of Peachland; “Council” means the Council of the District of Peachland;

“Owner” means the legal registered owner and any subsequent owner of the Property or any parts into which the Property is subdivided, and includes any person who is a registered owner in fee simple of the Property from time to time;

“Property” means the legally described land and improvements to which a Revitalization Tax Exemption is applied for and as legally described in the Agreement; “Revitalization Area” means an area designated and set out on Schedule “A” attached hereto and forming part of this Bylaw; “Revitalization Tax Exemption” means a revitalization tax exemption pursuant to a Revitalization Tax Exemption Certificate; “Revitalization Tax Exemption Certificate” means a revitalization tax exemption pursuant to this Bylaw;

2. There is established a revitalization tax exemption program which includes the following:

a) Revitalization Tax Exemptions authorized under this Bylaw applies to:

(i) the construction of a new improvement where the construction has a value in excess of $50,000.00, and;

(ii) the alteration of an existing improvement where the alteration has a value in excess of $50,000.00;

where the property is located within the Revitalization Area as set out on Schedule “A” attached hereto and forming part of this Bylaw.

b) Any construction of a new improvement or alteration of an existing improvement as

outlined in Section 2 a) of this Bylaw undertaken prior to the application for a Revitalization Tax Exemption will not be eligible for consideration.

c) The maximum Revitalization Tax Exemption authorized under this Bylaw must not exceed

the increase in the assessed value of the improvements on the Property between:

(i) The calendar year before the construction or alteration began, as outlined under Section 2 a) of this Bylaw; and

(ii) The calendar year in which the construction or alteration as outlined under Section 2 a) of this Bylaw is completed.

d) The Property’s assessed value of improvements must not be reduced below the amount

assessed in the calendar year prior to construction or alteration, as outlined in Section 2 a) of this Bylaw, as a result of the Revitalization Tax Exemption.


e) Any construction of a new improvement or alteration of an existing improvement must be commenced on or before December 31, 2016, and completed, with an occupancy permit if applicable, by December 31, 2018.

f) The maximum term of a Revitalization Tax Exemption is contingent on when the

Revitalization Tax Exemption Certificate for the Property is issued by the District pursuant to this Bylaw and the Agreement:

(i) if the construction or alterations as outlined in Section 2 a) of this Bylaw have

commenced on or before October 31 and will be assessed on the subsequent year’s assessment roll, then the Revitalization Tax Exemption Certificate will be issued one (1) year and a subsequent Revitalization Tax Exemption Certificate will be issued for the next four (4) years. For commercial projects, a single renewal for a term of an additional five (5) years will be issued;

(ii) if the construction or alterations as outlined in Section 2 a) of this Bylaw have

commenced and been completed on or before October 31 and will be assessed on the subsequent year’s assessment roll, then the Revitalization Tax Exemption Certificate will be issued for five (5) years. For commercial projects, a single renewal for a term of an additional five (5) years will be issued.

g) The amount of Revitalization Tax Exemptions authorized under this bylaw to calculate the

general municipal property tax payable (excluding specified area levies) is equal to any increase in the assessed value of improvements on the Property attributed to construction or alterations as outlined in Section 2 a) of this Bylaw (hereinafter referred to as the Total Amount) and is as follows:

For commercial projects:

(i) Year 1 – 5 Total Amount (ii) Year 6 Total Amount less 20%

(iii) Year 7 Total Amount less 40%

(iv) Year 8 Total Amount less 60%

(v) Year 9 Total Amount less 80%

(vi) Year 10 Total Amount less 100% - No Revitalization Tax

Exemption – the Property is fully taxable. For multi-family residential projects: (i) Year 1 – 5 50% of the municipal property taxes 3. The kinds of property revitalization that will be eligible for a Revitalization Tax Exemption under

this Bylaw will be limited to property zoned commercial, or used or intended to be used for


commercial purposes, and multi-family residential properties, in the Beach Avenue South and Waldo Way South precincts.

4. This Bylaw does not apply to a property unless:

a) The property is located in the Revitalization Area shown on Schedule “A” attached hereto and forming party of this Bylaw; and

b) The Owner of the property has entered into an Agreement with the District as set out in

Schedule “B” attached hereto and forming part of this Bylaw.

5. Where a property is partially within the Revitalization Area, this Bylaw shall apply where at least 50% of the property lies within the Revitalization Area.

6. Once the conditions established under this Bylaw and the Agreement as set out in Schedule “B”

attached hereto and forming part of this Bylaw, have been met, a Revitalization Tax Exemption Certificate must be issued for the Property.

7. The Revitalization Tax Exemption Certificate must, in accordance with the conditions established

in this Bylaw and the Agreement set out in Schedule “B” attached hereto and forming part of this Bylaw, specify the following:

a) the amount of Revitalization Tax Exemption or the formula for determining the

Revitalization Tax Exemption;

b) the term of the Revitalization Tax Exemption;

c) the conditions on which the Revitalization Tax Exemption is provided; and

d) that a recapture amount is payable if the Revitalization Tax Exemption Certificate is cancelled and how that amount is to be determined.

8. If an Owner wants to apply for a Revitalization Tax Exemption under the Bylaw, the Owner must

apply to the Director of Planning and Development Services in writing and must submit the following with the application:

a) a certificate that all taxes assessed and rates, charges, and fees imposed on the Property

have been paid and where taxes, rates or assessments are payable by installments, that all installments owing at the date of the certificate have been paid; the provision for Development Cost Charge instalments shall be pursuant to Section 933 of the Local Government Act and Regulation 166/84;

b) a completed written application as per Schedule “C” attached hereto and forming part of

this Bylaw; c) a description of the construction or alteration as outlined in Section 2 a) of this Bylaw, that

would be eligible under the Bylaw for a Revitalization Tax Exemption;


d) an examination fee in the amount of $250.00; and e) a copy of the Agreement as set out in Schedule “B” attached hereto and forming part of this

Bylaw, duly executed by and on behalf of the Owner.

9. If, pursuant to the terms and conditions specified in the Agreement of the Tax Exemption Certificate, the certificate is cancelled, the owner of the Parcel for which the Tax Exemption Certificate was issued will remit to the District an amount equal to the value of any exemption received after the date of the cancellation.

10. A Revitalization Tax Exemption Certificate will be cancelled if:

a) the Owner breaches any covenant or condition of this Bylaw or the Agreement set out in Schedule “B” attached hereto and forming part of this Bylaw;

b) the Owner has allowed the property taxes to go into arrears or to become delinquent; or c) the property is put to a use that is not permitted in the commercial zones.

11. The Corporate Officer is hereby authorized to execute the documentation necessary to give

effect to the provisions of this Bylaw, including the Agreement set out in Schedule “B” attached thereto and forming part of this Bylaw.

12. If any section or phrase of this Bylaw is for any reason held to be invalid by a decision of any

Court of competent jurisdiction, it shall be severed and the invalidity of the remaining provisions of this Bylaw shall not be affected.

13. Any enactments referred to herein is a reference to an enactment of British Columbia and

regulations thereto, as amended, revised, consolidated or replaced from time to time. 14. This Bylaw shall come into full force and effect upon adoption of same. 15. This Bylaw may be cited as “District of Peachland Revitalization Tax Exemption Bylaw No. 2035.” READ A FIRST TIME, this 12th day of February, 2013. READ A SECOND TIME, this 12th day of February, 2013. READ A THIRD TIME, this 12th day of February, 2013. FINALLY RECONSIDERED AND ADOPTED, this 26th day of February, 2013. _________________________________ _______________________________________ Mayor Corporate Officer Dated at Peachland, B.C. This 26th day of February, 2013


Schedule “A” to Bylaw No. 2035 - Revitalization Area


SCHEDULE “B”

BYLAW NO. 2035

Revitalization Tax Exemption Agreement

This Agreement dated for reference the _______ day of ______________, 20____. BETWEEN Name and Address of Owner (hereinafter called the Owner)

OF THE FIRST PART AND The District of Peachland (hereinafter called the District) 5806 Beach Avenue Peachland, BC V0H 1Z7

OF THE SECOND PART

WHEREAS the District has under the Bylaw defined in this Agreement established a revitalization tax exemption program for the purpose of encouraging revitalization of an area of the municipality; AND WHEREAS Council’s objective is to stimulate and reinforce development initiatives in the Revitalization Area by promoting property investment within the Beach Avenue South and Waldo Way South precincts (as identified in the Sustainable Downtown Peachland Plan) and to reinforce the District’s investment in infrastructure upgrades and beautification projects; AND WHEREAS the Property that is the subject of this Agreement is located in an area designated by the District Council as a Revitalization Area legally described as __________________________________ __________________________________________________(hereinafter referred to as the Property); AND WHEREAS the Owner is a registered Owner in fee simple of the Property defined in this Agreement; AND WHEREAS this Agreement contains the terms and conditions respecting the provision of a Revitalization Tax Exemption under the Bylaw defined in this Agreement; AND WHEREAS the Property that is subject of this Agreement is zoned commercial (or used for commercial purposes when it is part of a Comprehensive Development Zone) or multi-family and shall remain zoned commercial (or used for commercial purposes) or multi-family as applicable, for the duration of this Agreement; AND WHEREAS the Owner and the District wish to enter into this Agreement.


THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements contained in this Agreement and the payment by the Owner to the District consideration in the amount of $10.00 (ten) Dollars, the receipt and sufficiency of which are acknowledged by the District, the District and Owner covenant and agree with each other as follows: DEFINITIONS

1. In this Agreement the following words have the following meanings: “Agreement” means this Agreement, including the standard charge terms contained in this Agreement; “Assessed Value” means the most recent assessed value of the Property as determined by the BC Assessment Authority in the area in which the Property is located; if such value is not available then the assessed value means the highest price in terms of money that the real property will fetch under all conditions requisite to a fair sale with the buyer and seller, each acting prudently, knowledgeable and assuming the price is not affected by undue stimulus as estimated by a real estate appraiser accredited in the jurisdiction in which the Property is located; “Bylaw” means “District of Peachland Revitalization Tax Exemption Bylaw No. ____” in force from time to time; “Council” means the Council of the District of Peachland; “Owner” means the legal registered owner and any subsequent owner of the Property or any parts into which the Property is subdivided, and includes any person who is a registered owner in fee simple of the Property from time to time; “Property” means the legally described land and improvements to which a Revitalization Tax Exemption is applied for and as legally described in the Agreement.

TERM

2. The Owner covenants and agrees with the District that the term of this Agreement is:

a) 5 years commencing on January 1 of the first calendar year after the calendar year that the Revitalization Tax Exemption Certificate is issued.

b) For commercial projects only, a renewal term of an additional 5 years at the election of the

Owner.

RENEWAL

3. The Owner of commercial projects must make application to the District for a renewal by October 31 in the year prior to the year in which the Revitalization Tax Exemption is requested to qualify for a renewal for the additional 5 years referred to in 2 b) above.


APPLICATION IMPROVEMENTS

4. The Revitalization Tax Exemption authorized under the Bylaw applies to:

a) Construction of a new improvement where the value of the construction referred to in the building permit is in excess of $50,000.00; or

b) Alteration of an existing improvement, where the value of the alteration referred to in the

building permit is in excess of $50,000.00. Any construction of a new improvement or alteration of an existing improvement as outlined in this section that is undertaken prior to the application for a Revitalization Tax Exemption will not be eligible for consideration.

REVITALIZATION TAX EXEMPTION CERTIFICATE

5. a) Once the Owner has completed the construction of the new improvement or alteration of an existing improvement referred to in Section 4 of this Agreement and the District has issued an Occupancy Permit under the District’s Building Regulation Bylaw, in force from time to time, in respect of the new improvement or alteration of an existing improvement, the District must issue a Revitalization Tax Exemption Certificate to the Owner of the Property if the Owner and the Property are otherwise in compliance with this Agreement.

b) A Revitalization Tax Exemption Certificate must, in accordance with the Bylaw and this Agreement, specify the following:

i) the amount of the Revitalization Tax Exemption or the formula for determining the Revitalization Tax Exemption;

ii) the term of the Revitalization Tax Exemption; iii) the conditions on which the Revitalization Tax Exemption is provided; and

iv) that a recapture amount is payable if the Revitalization Tax Exemption Certificate is cancelled and how that amount is to be determined.

REVITALIZATION TAX EXEMPTION 6. So long as a Revitalization Tax Exemption Certificate in respect of the Property has not been

cancelled, the Property is exempt, to the extent, for the period and subject to the conditions provided in the Revitalization Tax Exemption Certificate, from municipal property taxation (excluding specified area levies).


7. The maximum Revitalization Tax Exemption authorized under this Bylaw must not exceed the increase in the assessed value of the improvements on the Property between:

a) the calendar year before the construction or alteration began, as outlined in Section 4 of this Agreement; and

b) the calendar year in which the construction or alteration as outlined in Section 4 of this Agreement is completed.

8. The Property’s assessed value of improvements must not be reduced below the amount

assessed in the calendar year prior to new construction of an improvement or an alteration of an existing improvement, as outlined in Section 4 of this Agreement, as a result of the Revitalization Tax Exemption.

9. The Revitalization Tax Exemption shall be an amount equal to any increase in assessed value

of improvements on the Property attributed to the building permit issued as a result of the new construction of an improvement or the alteration of an existing improvement, as outlined in Section 4 of this Agreement.

10. The maximum term of a Revitalization Tax Exemption is contingent on when the

Revitalization Tax Exemption Certificate for the Property is used by the District pursuant to the Bylaw and the Agreement:

a) if the construction or alterations as outlined in Section 4 of this Agreement have

commenced on or before October 31 and will be assessed on the subsequent year’s assessment roll, then the Revitalization Tax Exemption Certificate will be issued for one (1) year and a subsequent Revitalization Tax Exemption Certificate will be iss ued for the next four (4) years. For commercial projects, a single renewal for a term of an additional five (5) years will be issued;

b) if construction or alterations as outlined in Section 4 of this Agreement have

commenced and been completed on or before October 31 and will be assessed on the subsequent year’s assessment roll, then the Revitalization Tax Exemption Certificate will be issued for five (5) years. For commercial projects, a single renewal for a term of an additional five (5) years will be issued.

11. The amount of Revitalization Tax Exemptions authorized under this Bylaw to calculate the

general municipal property tax payable (excluding specified area levies) is equal to any increase in the assessed value of improvements on the Property attributed to construction or alterations as outlined in Section 4 of this Agreement (hereinafter referred to as the Total Amount) and is as follows:

For Commercial Projects: a) Year 1 – 5 Total Amount

b) Year 6 Total Amount less 20% c) Year 7 Total Amount less 40% d) Year 8 Total Amount less 60%


e) Year 9 Total Amount less 80% f) Year 10 Total Amount less 100% - No Revitalization Tax Exemption, the

Property is fully taxable. For Multi-Family Residential Projects:

g) Year 1 – 5 50% of the municipal property tax 12. The Revitalization Tax Exemption Certificate may be cancelled by the District:

a) on the request of the Owner;

b) if the zoning is changed; c) the Owner breaches any covenant or condition of the Bylaw or this Agreement; d) the Owner has allowed the property taxes to go into arrears or to become delinquent; or

e) the Property is put to a use that is not permitted in the applicable zone.

13. To maintain a Revitalization Tax Exemption, the Occupancy Permit must be issued within twenty-four (24) months of the Revitalization Tax Exemption application being approved.

RECAPTURE 14. If, pursuant to the terms and conditions specified in the Agreement of the Tax Exemption

Certificate, the certificate is cancelled, the owner of the Parcel for which the Tax Exemption Certificate was issued will remit to the District an amount equal to the value of any exemption received after the date of the cancellation.

OWNERS OBLIGATIONS

15. The Owner must pay to the District, the cost of all tie-ins of works and services associated with the new improvements or alteration to improvements, to existing storm and sanitary sewers, water mains, water meters, driveways, and other municipal services prior to the issuance of a Revitalization Tax Exemption Certificate.

16. The Owner must comply with:

a) all enactments, laws, statutes, regulations and Orders of any authority having jurisdiction, including bylaws of the City; and

b) all federal, provincial, municipal and environmental licenses, permits and approvals required under applicable enactments.

OBLIGATIONS OF DISTRICT


17. The District must issue a Revitalization Tax Exemption Certificate to the Owner in respect of the Property once the Owner has applied for and obtained an Occupancy Permit from the District under the District's Building Regulation Bylaw, in force from time to time, in relation to the new improvements or alterations to an existing improvement, so long as the Owner and the Property are otherwise in compliance with the Bylaw and this Agreement.

DISTRICT'S RIGHTS AND POWERS

18. Nothing contained or implied in this Agreement prejudices or affects the District's rights and powers in the exercise of its functions or its rights and powers under any public and private statutes, bylaws, orders, or regulations to the extent the same are applicable to the Property, all of which may be fully and effectively exercised in relation to the Property as if this Agreement had not been executed and delivered by the Owner.

GENERAL PROVISIONS 19. The District of Peachland’s Revitalization Tax Exemption Bylaw No. 2035 and amendments

thereto form an integral part of this Agreement. 20. It is mutually understood, agreed and declared by and between the parties that the District has

made no representations, covenants, warranties, guarantees, promises, or agreements (oral or otherwise), expressed or implied, with the Owner other than expressly contained in this Agreement.

21. It is further expressly agreed that the benefit of all covenants made by the Owner herein

shall accrue solely to the District and this Agreement may only be modified by agreement of the District with the Owner.

22. This Agreement shall inure to the benefit of and is binding on the parties and their

respective heirs, executors, administrators, successors and assigns.

23. The Owner shall, on the request of the District, execute and deliver or cause to be executed and delivered, all such further transfers, agreements, documents, instruments, easements, statutory rights of way, deeds and assurances, and do and perform or cause to be done and performed, all such acts and things as may be, in the opinion of the District, necessary to give full effect to the intent of this Agreement.

24. Time is of essence of this Agreement. 25. This Agreement constitutes the entire agreement between the Owner and the District

with regard to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written of the District with the Owner.

26. Any notice or other communication required or contemplated to be given or made by any provision of this Agreement shall be given or made in writing and either delivered personally (and if so shall be deemed to be received when delivered) or mailed by prepaid registered mail in any Canada Post Office (and if so, shall be deemed to be delivered on the sixth business day following such mailing except that, in the event of


interruption of mail service notice shall be deemed to be delivered only when actually received by the party to whom it is addressed), so long as the notice is addressed as follows:

to the Owner at:

and

to the District at: District of Peachland 5806 Beach Avenue Peachland, BC V0H 1X7 Attention: Corporate Officer

or to such other address to which a party hereto from time to time notifies the other

parties in writing.

27. a) No amendment or waiver of any portion of this Agreement shall be valid unless in writing and executed by the parties to this Agreement; and

b) Waiver of any default by a party shall not be deemed to be a waiver of any subsequent

default by that party.

28. This Agreement is not intended to create a partnership, joint venture, or agency between the Owner and the District.

29. This Agreement shall be construed according to the laws of the Province of British Columbia.

30. A reference in this Agreement to the District or the Owner includes their permitted assigns,

heirs, successors, officers, employees, and agents.

31. This Agreement is effective from and after the reference date in this Agreement, but only if this Agreement has been executed and delivered by the Owner executed by the District.

32. Unless otherwise expressly provided in this Agreement, the expense of performing the

obligations and covenants of the Owner contained in this Agreement, and of all matters incidental to them, is solely that of the Owner.

33. The Owner represents and warrants to the District that:

a) all necessary corporate actions and proceedings have been taken by the Owner to authorize its entry into and performance of this Agreement;

b) upon execution and delivery on behalf of the Owner, this Agreement constitutes a valid

and binding contractual obligation of the Owner;


c) neither the execution and delivery, nor the performance, of this Agreement shall breach any other Agreement or obligation, or cause the Owner to be in default of any other Agreement or obligation, respecting the Property; and

d) the Owner has the corporate capacity and authority to enter into and perform this

Agreement. IN WITNESS WHEREOF the parties have affixed their hands and seals and where a party is a corporate entity, the corporate seal of that company has been affixed in the presence of its duly authorized officers effective the day and year first recited above SIGNED, SEALED AND DELIVERED BY THE DISTRICT OF PEACHLAND in the presence of: Mayor Corporate Officer

Witness

SIGNED BY THE OWNER OF THE ABOVE NOTED PROPERTY in the presence of: Authorized Signature

Witness

Building Permit No. ____________


SCHEDULE “C”

BYLAW NO. 2035

Application for Revitalization Tax Exemption

Date Receipt No. Application No. Property Owner/Applicant Mailing Address Telephone No. Cell No. Subject Property Roll No. Civic Address

Legal Description Zoning Designation Current Assessed Value _________ Business Licence No. Description of Proposed Revitalization Year(s) Applying For Value of Construction Building Permit No. Note: Additional backup information may be required. I certify that the above information is to my knowledge accurate and that I have received and read the Revitalization Tax Exemption Bylaw and applicable schedules. Property Owner/Applicant Date


Office Use: Property Tax Account Utility Account Other Fees, Rates or Charges Outstanding Notes To File

District of Peachland

Information Report

To: Mayor and Council

From: Director of Planning and Development Corine (Cory) Gain

Date: July 29, 2016

Subject: Revitalization Tax Exemption Comparative Report

General:

The attached report details Peachland’s Revitalization Tax Exemption (RTE) Bylaw as it compares to other regional RTE Bylaws.

Background:

In 2015 the Peachland Economic Development Committee (PEDC) received a presentation regarding the expense of development in Peachland. Specifically mentioned was the presenter’s opinion that the District of Peachland has a development incentive bylaw that is not as favorable as neighbouring communities. At that meeting the PEDC made a recommendation to Council to evaluate the District of Peachland’s incentive program as it compares to adjacent communities.

Council passed resolution RC-23/06/15-005 THAT Council direct staff to prepare a report on the development incentive programs in the neighbouring communities and provide recommendations for Peachland to equal or exceed these incentives in the core commercial area and to be present to Council.

The determination from the research is that the RTE is highly competitive with the neighbouring communities, specifically as it pertains to minimum construction values required to trigger the bylaw; no changes are recommended at this time.

Report/Document: Attached: Available: Nil:

Revitalization Tax Exemption Comparative Report - 2016

Revitalization Tax ExemptionComparative

Report

REVITALIZATION TAX EXEMPTIONS

Commercial floor space is a large contributor to a municipal tax base with lands and improvements that are assessed as commercial usage often taxed at a minimum of twice (usually more) the residential rate. For communities that do not have an abundance of commercial space, that wish to encourage expansion, there is a mechanism set out in section 226 of the Community Charter that gives authority to a municipality to exempt property from municipal property tax for the purpose of revitalization.

The Revitalization Tax Exemption (RTE) is a tool that Councils may use to encourage various types of revitalization to achieve a range of environmental, economic or social objectives. A revitalization program may apply to a small area or areas, a certain type of property or properties, a particular activity or circumstance related to a property or properties, or an entire municipality. The reasons and objectives of the program must be carefully defined in order to establish a revitalization program, and property owners must meet all of the specified conditions of the program before an agreement can be signed.

An RTE must be implemented by bylaw and must include:

• A description of the reasons for, and the objectives of, the program;

• A description of how the program is intended to accomplish the objectives;

• A description of the kinds of property, activities or circumstances related to the property that create eligibility for exemptions;

• The extent of the exemption available;

• The amounts of exemptions, or formulas to determine the amounts, or both; and

• The maximum term of the exemption, which may not be longer than 10 years.

Before adopting a RTE bylaw, Council must consider the RTE program in conjunction with the objectives and policies as set out under section 165(3.1)(c) of the Community Charter with respect to the use of permissive tax exemptions. The intent of this consideration is for Council to review the municipality’s objectives and policies in relation to tax exemptions.

The following is an examination of the RTE programs from various municipalities in the Okanagan as well as the Town of Ladysmith (due to its similar population size and hillside conditions to Peachland.) The objective is to determine what other local municipalities are doing with regards to revitalization and to compare and contrast those programs with the current RTE program established in the District of Peachland.

PEACHLAND - 5,200The District of Peachland instituted a Revitalization Tax Exemption Program in 2012 and as of mid 2016 it has only been accessed once. Tax exemptions are authorized for new construction and renovations that have a value of $50,000 or greater. The District of Peachland’s exemption is benefitted by its simplicity in that an owner or developer is not bound by a complicated formula in determining whether a build will qualify for exemption. Revitalization tax exemptions will be considered to encourage redevelopment of Peachland’s downtown.

When the program was presented to council for consideration the objectives for downtown revitalization programs were:

• To create economic stimulus to encourage commercial capital investment;

• To encourage redevelopment of aging, single use downtown buildings;

• To create additional employment opportunities that will reduce the need for citizens to work outside of the community;

• To promote environmental objectives, such as green projects, energy efficiency, and reduction of greenhouse gas emissions;

• To expand the commercial tax base.

The term of exemption is also a standard 9-year term with 20% reduction in the exemption each year starting in the sixth year.

• Year 1 – 5: 100% of the increased value• Year 6: 80% of increased value• Year 7: 60% of increased value• Year 8: 40% of increased value• Year 9: 20% of increased value• Year 10: No exemption

The RTE is supported by Peachland’s Financial Plan Bylaw 2128, 2016 where the District has committed to exploring fiscal options to support downtown revitalization projects and to support expanded retail and other commercial deveopment throughout Peachland, especially in the downtown.

The City of Penticton has an intricate Tax Revitalization Program. The bylaw creates a matrix classifying developments that the City of Penticton deemed necessary for the revitalization of its Downtown. Only developments that have been listed in the matrix are eligible for tax relief, and only a certain number of each development type will be considered. Should a building fall under two categories, as delineated in the matrix, it shall only be eligible to receive relief for one.

The minimum construction value also varies between types of developments. Where a facade would require a construction value of $5,000, an office building would need $1,000,000 in construction value in order to qualify. This allows the City to guarantee a minimum level of quality before offering tax relief as incentive.

The Revitalization Tax Exemption Bylaw also has specific stipulations for incentive qualifications. For example a hotel must be rated at “three stars” or better by the Canada Select Accommodation Rating Program, and include the creation of at least five (5) new rooms, and a minimum construction value of $2,000,000. The result is a tax exemption of 100% on the increased value of both land and improvement for 10 years. Reduction percentages and terms of exception are also set variably based on the type of development and whether or not the reduction is calculated on the value of improvement or on the land; with a tax reduction sometimes offered for both land and improvement value.

It should be noted that the calculation of improvements is not cumulative. The tax exemptions only apply to construction or improvements that were initially applied for. If any further improvements are undertaken during a term of tax exemption the further improvements will not be calculated as part of the ongoing tax exemption term.

PENTICTON - 32,877

KAMLOOPS - 85,678The City of Kamloops has stringent requirements for new construction under the Revitalization Tax Exemption Bylaw applicable to three specific areas. The Economic Development group in Kamloops has stated that the exemption has been used infrequently.

For a project involving the construction of a new improvement, the improvement must have 50% of the gross building floor area dedicated to residential uses which shall include residential accessory uses and amenities; no minimum construction value is required. Whereas projects that involve the alteration of an existing improvement (a renovation) must be at least $100,000 in value, or 30% of the assessed value the year before the alteration, whichever is greater, and includes a “Public Realm Improvement.”

The exemption amount is 100% for 5 years on the increased assessed value of the land. The municipality may issue a renewal certificate for an additional 4 years with the exemption reduced by 20% each year.

• Year 6: 80% of increased value




• Year 10: No exemption

The amount of the annual tax exemption must not exceed the increase in assessed value of a parcel between the year before the construction or alteration began and the year in which the Tax Exemption Certificate is used.

LOGAN LAKE - 2,073The District of Logan Lake has a unique Revitalization Tax Exemption Program; at least by Central Okanagan standards. The commercial aspects of the program are broken down into two areas: Development and Improvement.

The development standards initiate with a minimum investment of $150,000. With the minimum investment in the development area the owner will be eligible to apply for a municipal tax exemption of 100% on the assessed value of improvements for five (5) years. BC assessment provides the exemption as the value of the building permit or the change in assessment from the previous year, whichever is less.

Commercial improvements (upgrades) have a minimum required investment of $80,000 to be eligible for a 100% tax exemption on assessed value of the land and improvements for five (5) years. However, the anticipated exemption is not permitted to exceed 25% of the total budget of the project. Further to commercial improvements, with a $15,000 investment in facade improvements an owner may apply for a 50% tax exemption on both land and improvements for a three (3) year term, again with the stipulation that the exemption cannot exceed the 25% mark of the total budget of the project. What makes Logan Lake’s Program unique is that there are two ways in which one may take advantage of the tax revitalization. The first is the traditional way of applying for a relief on the taxes for a set term; in Logan Lake this is for a maximum of five (5) years in the Commercial Development and Improvement Areas . The second option is what they call the “Early Benefit Payment” option. This option allows for projects that are eligible for the tax exemption to apply for the early benefit which allows for a lump sum payment equivalent to the estimated tax exemption over the eligible term. This payment is provided by the Northern Development Initiative Trust and is paid back by the District from the property taxes then collected from the project over the eligible term.

* The Southern Interior Development Initiative Trust (SIDIT) has been contacted on the possibility of running program like the Early Benefit Payment option, however they have expressed no interest in operating a similar program.

VERNON - 40,000The City of Vernon implemented a Revitalization Tax Exemption Bylaw in May of 2012. The Vernon bylaw is fairly standard in that it sets a base amount for each of new construction, additional construction, and exterior/interior renovations, which qualify for a maximum ten (10) year exemption with five (5) years at 100% relief of the increase in assessed value with the further five (5) years seeing a reduction of the relief by 20% as follows :

• Years 1-5: 100% of the increased assessed value

• Year 6: 80% of the increased assessed value





The stipulations under the Vernon bylaw are as follows:

• New Construction must have a value of $200,000 or greater;

• Additions to existing buildings must have a value of $50,000 or greater; and

• Exterior and interior renovations to existing buildings, where the project does not increase floor space must have a value of $25,000 or greater.

In all cases an occupancy permit must be issued before a Tax Exemption Certificate will be issued. As with most Revitalization Tax Exemption bylaws if a property that has benefited from a tax exemption under the Revitalization Tax Exemption Bylaw ceases to meet all the conditions of the Exemption Certificate, then the Certificate shall be cancelled and all the taxes which were exempted in respect of that property shall be repaid, plus interest, as if the taxes had never been exempted, and will be added to the roll for that property.

KELOWNA - 117,300As the economic hub for the Central Okanagan, the City of Kelowna has devoted the lion’s share of its Revitalization Tax Exemption Program Bylaw towards increasing commercial floor space, either through additions to existing structures or new builds. The program creates four (4) tax incentive areas in order to direct increases in floor space and density; each of the four areas offer a different percentage reduction between fifty (50) and one hundred (100) percent for a maximum term of ten (10) years :

• Tax Incentive Area 1: 100% of the Revitalization Amount on the parcel;

• Tax Incentive Area 2:

• 100% of the Revitalization Amount on the parcel, for a project with a minimum floor area of 3,716 m2 (40,000 sq. ft.)

• 75% of the Revitalization Amount on the parcel which can be attributed to a residential land use, and/or 50% of the Revitalization Amount on the parcel which can be attributed to a commercial land use, for a project with a floor area of less than 3,716 m2 (40,000 sq. ft.)

• Tax Incentive Area 3: 50% of the Revitalization Amount on the parcel, for a project with a minimum floor area of 3,716 m2 (40,000 sq. ft.)

• Tax Incentive Area 4: 100% of the Revitalization Amount on the parcel.

It is possible to utilize the tax exemption outside the specific zones if the development qualifies as a “Purpose-Built Rental Housing Project.” The City will accept application for a 100% reduction of the Revitalization Amount on the parcel for projects that are subject to a Housing Agreement (for up to 10 years) and are in compliance with the OCP; only when the vacancy rate is at or below 3%.

There is a set of general regulations that all proposals must meet to be considered for the Revitalization Tax Exemption. With regards to the construction of new floor space, either through addition to existing space or a new build, the construction value must total $50,000 or more. Renovations, however, require a minimum value of $300,000 or greater to be eligible, indicating that Kelowna’s primary concern, as it pertains to development, is increasing floor space rather than interior renovations or facade improvements (the facades in much of the revitalization areas are already complementary to form and character).

* Tax Incentive Area 3 was given a stipu-lation that only the first 200,000 sq. ft. would be eligible for an exemption. This limit has been reached and Tax Incen-tive Area 3 has been removed as of August 2015.

OLIVER - 4824The Town of Oliver’s Downtown Commercial Revitalization Zone’s objectives are to encourage commercial development of existing vacant properties in the downtown and to introduce new commercial activities and buildings while sustaining existing commercial activities. This is to be accomplished by encouraging revitalization of existing buildings with an overall emphasis on enhancing the aesthetic appearance of the downtown core area by promoting renovation to the facades and other exterior components. It is also hoped that revitalization will enhance the livability and vibrancy of the area by encouraging construction of new residential dwelling units above commercial developments in the downtown core area.

The Town breaks down revitalization into “New Construction and Expansion” and “Interior Renovations and Facade Improvements.” In Oliver, unlike most other municipalities, New Construction and Expansion does not have a base improvement value that must be met in order to apply for the exemption. A project will qualify as long as it is a new commercial construction, or expansion of an existing commercial building; this includes construction of residential units as long as they are secondary to a ground level commercial use. Under New Construction and Expansion the tax exemption is granted on the improvements such that the tax will be imposed on the Assessed Value of the improvements minus the Baseline Assessment of the improvements. The exemption will be 100% of the qualifying exemption amount for five (5) years and reduced by 20% each subsequent year with a 10% reduction in the final year.

• Years 1-5: 100%

• Year 6: 80%

• Year 7: 60%

• Year 8: 40%

• Year 9: 20%

• Year 10: 10%

There is, however, a stipulation for a Hotel Development which shall be granted a greater exemption of 100% for ten (10) years. With regards to interior renovations and facade improvements, a base construction value of $100,000 has been set in order to qualify for an exemption. The exemption on interior renovations and facade improvements is capped at 100% for five (5) years.

LAKE COUNTRY - 11,1710The District of Lake Country is home to some of the more specific, and prohibitive, regulations to qualify for a Revitalization Tax Exemption. Across the board the base amount for a tax exemption is $2,000,000.00; whether for a new build or an addition to an existing building. The construction must fall under the “Applicable Development” matrix which lists qualifying development types with their corresponding exemption length and amount percentage. The matrix is as follows:

• Attraction or Conference Hotel; 3 storeys or more – 100% exemption for ten (10) years.

“Attraction or Conference Hotel” refers to a hotel with facilities intended to host conventions or conferences, including but not limited to meeting rooms intended for at least 50 participants, on-site food services and a swimming pool or similar amenity feature.

• Hotel; 3 storeys or more – 100% for six (6) years.

• Commercial or Mixed Use Building; 3 storeys or more – 100% for six (6) years.

• Commercial or Mixed use Building; at least 2 storeys – 100% for three (3) years.

In order to qualify, all storeys of a building must be fully functional and where the building will have frontages on more than one grade, the building must have public entrances and storefronts on both grade levels.

There is no tax exemption for renovations or facade improvements. It would seem from the restrictions placed on applicable developments, the District of Lake Country is interested in courting large developments that build up rather than out.

LADYSMITH - 7,921In a contrast to Lake County, Ladysmith places little if any restrictions on what constitutes an applicable development. The base construction value sits at $15,000 and the only stipulations in terms of land use are the permitted uses already contained in the zoning bylaw.

In terms of encouraging development in general, Ladysmith has one of the more attractive bylaws. However, when creating a Revitalization Tax Exemption bylaw it may be prudent to consider community benefit over development for the sake of development. A bylaw, such as Ladysmith’s, that has nearly no stipulation could end up being a drain on municipal revenue for relatively insignificant improvements, rather than spurring more targeted and beneficial development and community amenities for tax incentives.

In neither the Revitalization Tax Exemption Bylaw nor the Development Cost Charge Reduction Bylaw does it state that either bylaw may not be combined with any other bylaw. This could allow for an added loss of revenue with no control over what types of development happens.

SU

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024681012

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the

impr

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alte

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to b

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e m

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r the

tax

exem

ptio

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five

(5) y

ears

at a

100

% re

duct

ion

of th

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crea

sed

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ssed

val

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licat

ion

may

be

mad

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the

end

of fi

ve

(5) y

ears

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four

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ear r

enew

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t a

redu

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rate

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at 8

0% a

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duci

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by 2

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ach

year

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mer

cial

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stru

ctio

n

New

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stru

ctio

n:

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lue

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tax

exem

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(5) y

ears

on

the

asse

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prov

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mer

cial

Impr

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ents

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s):

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(5) y

ears

on

the

land

and

impr

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ents

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exem

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prov

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$15,

000

cons

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valu

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tax

exem

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) yea

rs o

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tal b

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pe:

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ible

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one

of t

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way

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x2.

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p su

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the

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ther

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itiat

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elop

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st to

be

paid

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pr

oper

ty ta

x ov

er e

xem

ptio

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rm.

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mer

cial

Con

stru

ctio

n

New

Con

stru

ctio

n:

$200

,000

con

stru

ctio

n va

lue

A

dditi

ons

to E

xist

ing

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ldin

gs:

$50,

000

cons

truct

ion

valu

e

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rior a

nd In

terio

r Ren

ovat

ions

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5,00

0 co

nstru

ctio

n va

lue

whe

re th

e pr

ojec

t doe

s no

t inc

reas

e flo

or s

pace

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:Th

e m

axim

um te

rm fo

r the

tax

exem

ptio

n is

ten

(10)

yea

rs. F

ive

(5) y

ears

at a

100

%

redu

ctio

n of

the

incr

ease

d as

sess

ed v

alue

an

d fiv

e (5

) yea

rs a

redu

ced

rate

; sta

rting

at

80%

and

redu

cing

by

20%

eac

h ye

ar

with

10%

rem

aini

ng fo

r the

10t

h ye

ar.

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mer

cial

Con

stru

ctio

n

New

Con

stru

ctio

n or

Add

ition

(A

ddin

g Fl

oor S

pace

r):

$50,

000

cons

truct

ion

valu

e

Tax

Ince

ntiv

e A

rea

1 &

4:

100%

redu

ctio

n fo

r a m

axim

um 1

0 ye

ar

term

Tax

Ince

ntiv

e A

rea

2:

100%

redu

ctio

n fo

r a m

axim

um te

n (1

0)

year

term

if th

e pr

ojec

t has

a m

inim

um fl

oor

area

of 3

,716

m2 (4

0,00

0 sq

. Ft.)

If fl

oor

area

is le

ss th

an 3

,716

m2 (4

0,00

0 sq

. Ft.)

re

ceiv

es a

50%

redu

ctio

n fo

r the

ten

(10)

ye

ar te

rm.

75%

redu

ctio

n fo

r a p

roje

ct th

at c

an b

e at

tribu

ted

to a

resi

dent

ial l

and

use

Tax

Ince

ntiv

e A

rea

3:50

% re

duct

ion

for a

max

imum

ten

(10)

yea

r te

rm if

the

proj

ect h

as a

min

imum

floo

r are

a of

3,7

16 m

2 (4

0,00

0 sq

. ft.)

Ren

ovat

ions

:$3

00,0

00 c

onst

ruct

ion

Valu

e

100%

redu

ctio

n fo

r ten

(10)

yea

rs

Com

mer

cial

Con

stru

ctio

n

New

Con

stru

ctio

n an

d Ex

pans

ion

(Add

ing

Floo

r Spa

cer)

: N

o re

quire

d co

nstru

ctio

n va

lue

C

onst

ruct

ion

mus

t be

a ne

w c

omm

erci

al

cons

truct

ion,

or t

h ex

pans

ion

of a

n ex

istin

g co

mm

erci

al b

uild

ing.

Res

iden

tial u

nit m

ay a

pply

if th

ey a

re

seco

ndar

y to

a g

roun

d le

vel c

omm

erci

al

use.

Term

:Th

e m

axim

um te

rm fo

r the

tax

exem

ptio

n is

ten

(10)

yea

rs. F

ive

(5) y

ears

at a

100

%

redu

ctio

n of

the

incr

ease

d as

sess

ed v

alue

an

d fiv

e (5

) yea

rs a

redu

ced

rate

; sta

rting

at

80%

and

redu

cing

by

20%

eac

h ye

ar w

ith

10%

rem

aini

ng fo

r the

10t

h ye

ar.

Ren

ovat

ions

and

Fac

ade

Impr

ovem

ents

:$1

00,0

00 c

onst

ruct

ion

Valu

e

Term

:10

0% re

duct

ion

for fi

ve (5

) yea

rs

Hot

el C

onst

ruct

ion:

No

requ

ired

cons

truct

ion

valu

e

Term

:10

0% re

duct

ion

for t

en (1

0) y

ears

Com

mer

cial

Con

stru

ctio

n

New

Com

mer

cial

Con

stru

ctio

n:

$2,0

00,0

00 c

onst

ruct

ion

valu

e.

Con

stru

ctio

n m

ust b

e a

new

com

mer

cial

co

nstru

ctio

n, o

r the

exp

ansi

on o

f an

exis

ting

com

mer

cial

bui

ldin

g.

Term

:C

omm

erci

al o

r Mix

ed U

se B

uild

ing

with

at

leas

t 3 s

tore

ys: 1

00%

redu

ctio

n fo

r six

(6)

year

s.

Com

mer

cial

or M

ixed

Use

Bui

ldin

g w

ith a

t le

ast 2

sto

reys

: 100

% re

duct

ion

for t

hree

(3

) yea

rs.

New

Hot

el C

onst

ruct

ion:

$2,0

00,0

00 c

onst

ruct

ion

valu

e.

Term

:A

ttrac

tion

or C

onfe

renc

e H

otel

with

at l

east

3

stor

eys:

100

% e

xem

ptio

n fo

r ten

(10)

ye

ars.

Hot

el w

ith a

t lea

st 3

sto

reys

: 100

%

redu

ctio

n fo

r six

(6) y

ears

.

Attr

actio

n or

Con

fere

nce

Hot

el

Definitio

n:

A ho

tel w

ith fa

cilit

ies

inte

nded

to h

ost

conv

entio

ns o

r con

fere

nces

, inc

ludi

ng b

ut

not l

imite

d to

mee

ting

room

s in

tend

ed fo

r at

leas

t 50

parti

cipa

nts,

on-

site

food

ser

vice

s an

d a

swim

min

g po

ol o

r sim

ilar a

men

ity

feat

ure.

Com

mer

cial

Con

stru

ctio

n

New

Com

mer

cial

Con

stru

ctio

n,

expa

nsio

n or

reno

vatio

n:

$15,

000

Term

:M

axim

um 1

0 ye

ar te

rm. S

ee b

ylaw

for

calc

ulat

ion.

SOURCESCity of Kamloops City Centre Revitalization Tax Exemption By-law No. 22-4-1, 2006

City of Kelowna Revitalization Tax Exemption Program Bylaw No. 9561

City of Penticton Downtown Economic Investment Zone Bylaw No. 2014-04

City of Vernon Revitalization Tax Exemption Bylaw (City Centre District) Bylaw Number 5362, 2012

District of Lake Country Revitalization Tax Exemption Bylaw 853 S 2.4

District of Logan Lake Revitalization Tax Exemption Program Bylaw No. 727, 2012

Revitalization Tax Exemptions: A Primer on the Provisions in the Community Charter 2008. P.2

Town of Ladysmith Revitalization Tax Exemption Bylaw 2007, No. 1625

Town of Oliver Revitalization Tax Exemption Bylaw 1328 – Schedule C S.2

Venture Kamloops – www.venturekamloops.com

This report was created on the Direction of Council on the recommendation from the Peachland Economic Development Committee.

Documents

· The Central Okanagan Economic Development Commission recognizes best practises and economies of ... representing one of the highest levels of entrepreneurship in