Business Retention and Attraction Incentive Program Policy

At the Cold Lake Corporate Priorities Committee meeting on March 20th,  2018, Administration was seeking Council’s guidance regarding the criteria for the Business Retention and Attraction Incentive Program Policy (which was adopted in 2010, with amendments made in 2017).

Under the current policy, qualifying enhancements to an existing building receive a one-time ten percent rebate of the municipal property tax levy.

The current policy is understood to be for exterior renovations and enhancements, but Administration has been receiving requests for interior renovations such as replacement of HVAC systems and LED interior lights, and interior paint.

Administration asked Council if they wanted to expand the definition to include interior renovations and if they wanted to include paving and landscaping in the policy.

City of Cold Lake Councillor Jürgen Grau said, “Yes. I would agree to sidewalks and paving, but I’m not not one hundred percent sure about landscaping.”

Cold Lake City Councillor Bob Buckle stated he would like to leave it for just the outside of the building because that is what it was designed for. He added, “Replacing HVAC systems should have nothing to do with the taxpayer”, and he added he didn’t mind including landscaping if it beautifies.

Cold Lake City Councillor Kirk Soroka said, “External funding only”.

 

Administration thanked Council for the input they gathered during the discussion. The item will have to go to Council meeting for a motion and vote before anything will be finalized.