After approving tax breaks for commercial development downtown and in North Kamloops, the city is setting up an advisory group to look at further incentives, which could promote development with emphasis on the environment and livability.
The city’s development and sustainability committee has sent a recommendation to council to approve terms of reference for the revitalization tax exemption engagement group. The group will consist of city staff and representatives from the Kamloops Chamber of Commerce, the North Shore Business Improvement Association, the Kamloops Central Business Improvement Association and the public.
The advisory group will provide professional advice to an existing standing committee, tasked with reviewing bylaws around revitalization tax exemptions.
The exemptions allow certain kinds of development to be exempt from property tax for a set time in order to promote renovations or new builds in certain areas of the city.
City development director Marvin Kwiatkowski said that in addition to the commercial incentives previously approved by council, other avenues that can be explored include encouraging accessibility and energy improvements.
Councillors Arjun Singh, Sadie Hunter and Dieter Dudy unanimously approved sending the recommendation to approve the new advisory group.