BROWNFIELD INCENTIVE TAX BYLAW A WIN FOR BUSINESS
Publications & Media
The local Chamber of Commerce was encouraged by Land Use Bylaw 4585, the Brownfield Tax Incentive Bylaw that was read a first time in open Council on April 15, 2019 and passed by Council on July 2nd. As part of the recent updates to the Municipal Government Act (MGA), this bylaw is being used as a pilot for brownfield tax incentives and will grant multi-year tax exemptions to encourage infill development, environmental remediation and community revitalization. The two properties that the pilot will focus on are 603 First Street SE and the old Medicine Hat Arena location.
‘Development benefits a municipality through creation of an expanded tax base and a reduced tax burden through growth,’ commented Sarah MacKenzie, Medicine Hat & District Chamber of Commerce President, ‘By attaching the Brownfield Tax Incentive to both 603 First Street SE and the former Medicine Hat Arena, the impact of development and revitalization will be highly visible, immediate and will have the potential of spurring similar interest in development’.
The City will be using the application of the brownfield tax incentive to establish a structure for applying the brownfield tax in order to evaluate this new process before considering additional brownfields. The Chamber of Commerce has advocated for business incentives, like this most recently announced tax exemption, to encourage development in Medicine Hat. Incentives such as property tax rebates, discounted utilities, land cost abatements, workforce developments and flexible arrangements for businesses making sizeable economic commitments by choosing to locate in Medicine Hat have been suggested by the local Chamber since 2014 with recent economic development initiatives demonstrating these suggested incentives have proven to be successful.
‘The downtown core of any community is a measure of the vibrancy and success of a community. Not only is the downtown the geographical centre of our city but, it can be argued, that it is the heart of our municipality. By showcasing a core that is a hub of development it demonstrates that the City of Medicine Hat is a municipality that embraces development and is focused on optimism,’ added MacKenzie. ‘We look forward to seeing positive results from this pilot and seeing the Brownfield Tax Incentive being applied to all areas where redevelopment and intensification are needed.’
Land Use Bylaw 4585
Creating a Strong and Diverse Local Economy policy recommendations
Please direct all media inquiries to:
Sarah MacKenzie, President
c/o Medicine Hat & District Chamber of Commerce
(403) 527-5214 ext.221