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Old Posted Dec 23, 2018, 4:10 PM
thevan thevan is offline
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Vacancy allowence?

Anyone know what happened with this?

SJ's currently gives a tax break to property owners of vacant buildings, costing us about 6 million/year. Seems like mistaken policy when we're trying to build for density, using the infrastructure we already have rather than constantly rebuilding it on the outskirts of town, no?

Council were going to repeal it but it looks like the board of trade put a stop to that. Is there any case to made for this allowance beyond another subsidy to the business class? I imagine rents would go down more without the allowance as well. As it is, developers are just sitting on it.

Couple links:
https://www.thetelegram.com/news/loc...budget-169373/
https://www.cbc.ca/news/canada/newfo...fees-1.4946520

Last edited by thevan; Dec 27, 2018 at 3:15 PM.
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Old Posted Dec 24, 2018, 12:49 PM
overboard overboard is offline
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It's sold to the public as a helping hand for property owners who are temporarily without tenants. They have to show they are actively promoting the property, but as far as I can tell there are no real checks and balances.

I would love to see a list of who/which properties are taking advantage as I have a feeling there are repeat offenders. It would make sense to me that you should have to progressively lower your rent to qualify. It would be easy to advertise at an unrealistic price, but lower the rent far enough and you will eventually hit the right pricepoint for any property. Funny business associations love the free market until it involves that particular part of supply and demand.

I don't remember where but I think I recall in the most recent budget cycle that Froude (correct me if I'm wrong) essentially said the program was off the table for cuts. Makes you wonder what kind of pull the Board of Trade (or other interests) has with the City on this.

Rob Antle (CBC) requested a report on the program a couple years ago but it was conveniently not ready at the time: http://www.stjohns.ca/sites/default/...0Allowance.pdf
Anyone want to submit a new ATIPP for the audit and a breakdown of properties benefiting from this particular program?
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