Kamloops council backs tax breaks to spur airport development
Kamloops council has signalled strong support for a tax incentive program aimed at jumpstarting development at the Kamloops Airport, settling on key details that could shape how and what gets built on the largely underdeveloped site.
After more than an hour of discussion, councillors agreed the city should move forward with a revitalization tax exemption bylaw and gave clear direction on how it should be structured—decisions that will now guide staff in drafting the final policy.
At the heart of the plan is a 10-year, 100% property tax exemption on the increased value of new developments, a model already used elsewhere in the city. Council backed that approach as a way to provide certainty for developers and remain competitive with other jurisdictions trying to attract investment.
But councilors also tightened the rules around who qualifies.
* But wait ... I thought there was a water park being built out there.... MEMBER ??? The Forge wasn't it with their slick ( cough ) AI pic?