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Development Incentives

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Development Incentive Program Summary

 

 

Development

Target Area

Tax Abatement/Grant

Residential Intensification

 

New residential construction or adaptive re-use of existing buildings

 
  • Primary Area: Downtown zone
  • Secondary Area: Old Airport Road area

 
  • Full five year abatement (100% over five years), applies to Primary Area only
  • Declining five year abatement (100%-80%-60%-40%-20%), applies to Secondary Area
  • Additional five-year abatement for Residential Intensification project at Council's discretion
  • Up-front residential Intensification applies to Primary Area only at Council's discretion 

 

Industrial Relocation

 

Relocation of Industrial use from Sender Lands  to Receiver Lands

 
  • Sender Lands: Old Airport Road, Imperial Oil Lands near Negus Point, Old Town, Downtown and Kam Lake
  • Receiver Lands: Engle Business District

 

Declining seven year abatement (100%-90%-80%-70%-60%-50%-40%), applies to either Sender Lands or Receiver Lands but not both

 

Brownfield Remediation and Development

 

Brownfield development and redevelopment

 

City-wide

 

Declining five year abatement (100%-80%-60%-40%-20%)

 

LEED

LEED (Leadership in Energy and Environmental Design)

certified building

 

City-wide

 

Declining five year abatement (100%-80%-60%-40%-20%)

 

Heritage Preservation

 

Eligible work costs to restore or preserve a designated Heritage Building

City-wide

 

The total abatement shall be the lesser of (i) 50% of eligible work costs, (ii) $50,000, or (iii) ten years of total property taxes (land and improvements) payable on the property and existing improvements.

Integrated Parking Structures

 

Innovative design options that integrate the required parking requirements within the footprint of the building

Downtown zone

Declining five year abatement (100%-80%-60%-40%-20%)

 

Downtown Parking Structure Development

 

multi-storey or below ground parking structure in the DT - Downtown Zone

Downtown zone

Declining five year abatement (100%-80%-60%-40%-20%)

 

Note: For detailed eligibility criteria please refer to Development Incentive Program By-law No. 4534, Or contact our Planning and Development Department at 920-5600 or communications@yellowknife.ca 

Development Incentive Program Application Form