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Originally Posted by JamieDavid Exchange
Why are all the "naysayers" over the grant to lure residential growth around the Downtown so up in arms about? This is not a new idea. Regina is offering a five year tax break to their residents who chose to move to their new iconic development by Fortress.
Does a five year tax break sound better than a one lump sum? A five year tax break here would be on average $17,000-$19,000 per unit. Much better than a onetime payment of $10,000, IMO. Plus, the city of Winnipeg will be collecting property tax over those five years from those who collected the $10,000! Sounds like a great offer to ALL the citizens of this city. $2.1 million up front for roughly $4 million in revenue after five years.
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A tax break doesn't get directed back to the condo developer unlike this lame brain idea our city council came up with (the same city council whose members are now backtracking due to the huge public backlash) Want to sell condos in the exchange, price them according to what the market will bear, provide on site parking and provide condo configurations people actually want to buy!