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HomeNewsCity HallCouncil tables Tax Breaks for Multi-Family Housing

Council tables Tax Breaks for Multi-Family Housing

Don’t be surprised if you notice more construction in 2016.

On Monday council passed the first three readings of a new tax incentive program that would offer long-term exemptions to developers building multi-family housing units in Prince George.

To be eligible for the tax break, developers would have to build new units with wider doors and hallways to meet the city’s accessibility standards for seniors.

“We’ve heard loudly and clearly from our accessibility committee, from our seniors community about the fact that we need more housing that allows them to live in place for a long time” said Councillor Murry Krause.

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Developers would be eligible for a five or ten year tax exemptions, depending on where they decide to break ground.

“Looking at where the services are, building housing where the services are, so that people can get to them easily” said Krause.

According to Krause, more units will also mean more affordable housing options in the city.

“There’s lots of people in our community that struggle every month to make it work” said Krause. “So this is one of the opportunities to help mitigate that.

Council will likely pass the new bylaw at the next meeting on December 14th.

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