Revitalization Tax Exemption

The Revitalization Tax Exemption program is a new tax incentive
bylaw to encourage revitalization and new development in the Kamloops downtown City Centre.
Download Tax Exempltion At-a-Glance

Property Owners are eligible for a 5 year tax holiday which includes an additional 4-year phase-in period for the full tax commitment.

This RevitalizationTax Exemption programs aims to encourage more residential development and the revitalization of older commercial buildings. We believe this strategy will attract more people into the downtown core, encourage new business and expansions and deliver a renewed, vibrant look and feel to the community.

The long-term vision for the downtown core is to generate a safe and vibrant business and financial arena, and a interactive entertainment and cultural district.

As a result of permitting increased densities and residential infill, more residents will have the opportunity to enjoy a balance of urban living close to recreational amenities and the workplace. This strategy is the most efficient use or our infrastructure, is environmentally positive and creates a safer, vibrant and more prosperous City Centre.

Tax Exemption Criteria

Tax Exemption Area Boundaries

• 1st Ave to 6th Ave. between Lansdowne Street (N. side) and St Paul Street (S. side)
• 500 block between St Paul Street and Nicola Street
• Commercial buildings between the railway tracks
• Lansdowne Street from 2nd Avenue to 3rd Avenue
• View map

Tax Exemption Investment

• An existing building owner must invest $100,000 or 30% of the current assessed value of the building (whichever is greater), and include improvements to the public realm to qualify.
• New buildings must have a 50% residential component, this includes accessory and amenity uses for the residents (courtyard, swimming pools, parking etc.).

Zoning Bylaw Amendment

Central Business District (CBD)

Multi family developments must now supply one parking space per dwelling unit. Above ground parking is not included in the total floor area ratio (FAR) calculations of a building.

If you have a floor of parking on the second level of a multi story building you are permitted to build one storey higher. The allowable density in the CBD has also been increased from a base FAR of 3 up to 4, and with bonusing for a variety of components, to a maximum of from 6 to 8. 

Contact

City of Kamloops, Planning and Development Services
105 Seymour Street, Kamloops BC V2C 2C6