Economic Incentives

By-law No. 736

BEING

a by-law to encourage Economic Development in the Town of Gretna.

WHEREAS

Section 258(2) of The Municipal Act provides a council may encourage economic development in any manner it considers appropriate and, for that purpose, may enter into an agreement with a person, with an agency of the government of Manitoba or the Government of Canada, or with another municipality, including a municipality in another province.

THEREFORE BE IT RESOLVED

that the council of The Town of Gretna, in open session duly assembled, enacts as follows:

1.0 THAT

we provide for building construction incentive grants for new business establishing in new commercial buildings or new business establishing in existing commercial buildings, as per the following schedule:

1.1 THAT

portioned assessment is defined as the Real Property Portioned assessment as determined by the Assessment Branch for the Province of Manitoba and as entered into the latest revised Assessment Roll for the town of Gretna.

2.0 THAT

only new business establishing in new commercial construction or new business establishment in existing commercial buildings within the Town of Gretna is eligible for this grant.

3.0 THAT

only the person or persons liable to pay the taxes on the property for which a grant application is made is eligible for a grant.

4.0 THAT

taxes for the property for which application is being made, including business taxes if applicable, must be paid in full on or before the due date.

5.0 THAT

this grant is payable on December 31st of each applicable year.

6.0 THAT

only one incentive grant shall apply to any one commercial or multi-family dwelling units property.

7.0 THAT

if the first year of operation or occupancy is for a partial calendar year and application for a grant is made for such partial year, the amount of the grant available shall be prorated proportionally.

8.0 THAT

in the event that a property which is eligible for a Building Construction Incentive Grant or New Business Establishing in Existing Commercial Building Grant is sold by the original owner prior to the end of its eligibility for a grant, then any further grant is terminated as of the date of closure of the sale.

9.0 THAT

in the event there is any dispute regarding eligibility for the program and/or grant amount available, the decision of the Council of the Town of Gretna will be final.

PASSED AND ENACTED

as a by-law of The Town of Gretna at Gretna in the Province of Manitoba this 4th day of February A.D. 2004.

Town of Gretna Commercial Tax Examples

On a $200,000 Market Assessment @ 65% = 130,000 Taxable Assessment

Municipal Taxes	= $	5,872.75
School Taxes	= $	5,510.18
Total	= $	11,382.93

Incentive Grant

paid upon application on December 31st of applicable year toward new

Incentive Grant Example

On a $200,000 Market Assessment @ 65% = 130,000 Taxable Assessment