Comment 90134

By kevlahan (registered) | Posted July 10, 2013 at 09:51:23

As Sean pointed out, this would actually be an incredible deal for Blanchard: taxpayers pay 2/3 of the cost and he controls the process and reaps 100% of the eventual profits.

The only possible way this would make sense is if the citizens of Hamilton got a 2/3 share in the renovated buildings and Blanchard agreed to designation so the renovations must be done properly (and there is no last minute "oops it fell down").

I think a better solution would be for the City to designate the properties, and then grant Blanchard tax relief in lieu of the additional renovation costs as allowed under the Provincial heritage act. This is how it works most everywhere else: public support is limited to tax breaks, and sometimes low interest loans.

Although as far as I know Hamilton has not offered tax rebates on heritage properties, many (most?) other regions and municipalities do, e.g.

Niagara: "The tax reduction for the Heritage Property Program (under Municipal Act, 2001, section 365.2) provides local municipalities with a mechanism to provide tax reductions or refunds with respect to an "eligible" heritage property. Niagara Region will match tax reductions or refunds adopted by local municipalities under this section.",

Newmarket and Markham: "In 2004, Markham and Newmarket have both adopted programs which provide eligible heritage properties a reduction of 30% and 40% respectively. The reduction programs apply to both local municipal and education portions, effective January 1, 2004. For futher details, please contact your local Town of Newmarket or City of Markham offices.

If Hamilton is serious about encouraging heritage preservation they could offer a 40% tax discount like our neighbouring municipalities, instead of zero!

Here is the text of the Act:

http://www.e-laws.gov.on.ca/html/statute...

Permalink | Context

Events Calendar

There are no upcoming events right now.
Why not post one?

Recent Articles

Article Archives

Blog Archives

Site Tools

Feeds