Murray Wood: Who's hot... and who's not
Every Friday, Murray Wood takes a look at the week's news and decides who's hot... and who's not. This week's list inclu...
The City of Moose Jaw is looking to build on its economic momentum.
On Tuesday, the city unveiled a new housing incentive policy it hopes will encourage developers to build more homes in the community.
The policy is part of the 2023 municipal budget.
“Moose Jaw has experienced a surge of economic growth over the least few years and that is starting to put pressure on our housing market,” Mayor Clive Tolley said in a release. “We need new housing to keep up with the rising demand and we believe this new policy will help spur new construction.”
According to the city, the policy features a property tax exemption, under which housing projects could be eligible to receive a five-year tax phase-in (100 per cent-80 per cent-60 per cent-40 per cent-20 per cent) or a five-year, 100 per cent exemption.
It also offers a capital grant, through which projects could receive a base grant of $3,000 per housing unit. The city could approve a capital grant up to $5,000 per unit if the project incorporates multiple municipal housing objectives, to a project maximum of $25,000.
Projects that are eligible include:
- Secondary suites: The installation of new secondary suites or the legalization of existing suites in infill areas are eligible for a capital grant to a maximum of $3,000;
- Infill and replacement housing: These units must be located within existing and previously developed infill areas; and
- Approved federal and provincial projects: Any project that creates new housing units or beds and has been approved for financial or other support under a federal or provincial housing-related incentive program could be eligible for an incentive at the discretion of city council.
