CASTLEGAR NEWS Your Horoscope For the Week with Michael O’Connor inside the West Kootenay Advertiser
Thursday, September •
Vol. • Issue
Breaking news at castlegarnews.com
Prestigious tribute for well- Castlegarians march in Nelson known local citizen pride parade See Page A17 See Page A9 Rauni Naud
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So long summer - see you next time
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Twin Rivers Elementary students get back to school yard fun before the first bell on Sept. 4 RENEE READ MORTGAGE BROKER
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Council makes effort with “re-vite” proposal ber of Commerce. In basic terms the bylaw, which had received first and second reading on July 10, is an incentive for business. The city’s Director of Finance Andre Buss narrated a video presentation on the topic, referring to such milestones as the strategic planning meetings early this year, when priorities were set, including:
JIM SINCLAIR Castlegar News Editor
A public consultation on the subject of a Revitalization Tax Exemption Bylaw was held Tuesday evening in advance of the City of Castlegar’s regular council meeting. The one person taking in the presentation (aside from city council, staff and media) seemed fairly sold on the idea. The person was Stuart Ady, president of the Castlegar Cham-
•enhancing the appeal of the
downtown area; • the review and establishment of initiatives to benefit other areas of the community; • the undertaking of initiatives to retain more business.
1) “up to $750,000 of the assessment on the alteration, renovation, or expansion of an existing business property may be eligible for a tax exemption (new buildings are not eligible to apply for a tax exemption under this bylaw).
They came up with the idea of a bylaw that offers businesspeople a tax break on improvement and/or expansion of their enterprise. If and when the bylaw is adopted (possibly as soon as October
The formula would allow for exemptions to cover a six year period, with 100 per cent exemptions for the first three years, then 80, 60 and 40 per cent for
the subsequent three years, respectively. Based on assessed value of $750,000 in work, a business person could save slightly more than $40,000 in taxes over that six year span. The idea would be to review the bylaw Council is solidly behind the plan (as suggested by the unanimous endorsement of first and second reading in July. Stuart Ady asked why owners of new buildings could not get in on the benefits,
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and was informed by Buss, as well as Councillor Dan Rye that the priority was clearly in dealing with existing properties. Many would understand that rationale, given the number of vacant and deteriorating properties in the downtown core. Ady asked if the bylaw would be promoted, and learned from Mr. Buss that, if passed, it certainly would be... on the city’s website for one.
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