The Residential Incentive Policy is to help stimulate movement in the housing market. Highlights of the Residential Incentive Policy are:
1. All new construction of residential properties will be eligible for the incentive upon application.
2. Does not have to be built on a lot purchased from the City.
3. Cannot be a commercial property with a residential component.
4. Eligible construction are single family homes, duplexes, townhouses, apartments.
5. Incentive only applies to the residential mill rate.
a. Does not apply to land.
b. Does not apply to UPAR, Provincial Download Levy, Recreational Capital Levy.
c. Does not apply to Education Property Tax.
6. Will be applied to the account, once the project is completed.
7. Council will have final approval of all applications (similar to Downtown Incentive Program).
8. Incentive will be:
i. Year 1 – 100%
ii. Year 2 – 100%
iii. Year 3 – 100%
iv. Year 4 – 75%
v. Year 5 – 50%
vi. Year 6 – 0%
15% discount on residential lots for sale in Killdeer Park and Fairview Heights that are city owned, available for 12 month only.