Greater Sudbury city council adopted the Employment Land Community Improvement Plan, which offers developers tax incentives, and will begin accepting applications by September
Billed as a “game-changer” by Mayor Paul Lefebvre, Greater Sudbury city council adopted the Employment Land Community Improvement Plan last week.
The Employment Land Community Improvement Plan joins other such CIPs and incentive programs the city operates in providing tax incentives with the intention of helping spur development. Typically, when there’s a new construction or building expansion, the property will be reassessed once the building permit is completed, at which time property taxes are levied according to the new assessment.
A scoring matrix determines how many years, between three and 10, that 100 per cent of the tax difference is forgiven.
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