Moose Jaw rolls out new policy to encourage housing starts

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.