In June 2014, the Town of Comox Council adopted several bylaws, including Downtown Revitalization Tax Exemption Bylaw No. 1784, to encourage Downtown Vitalization. The incentives encourage mixed-use commercial and residential development, to support and increase not only Downtown businesses, but also the area’s social and environmental vitality.
Development Incentives – Town of Comox Downtown Vitalization Tax Exemption Program
With a new Downtown Vitalization Tax Exemption Program, the Town has put the tools in place to encourage viable new residential development to drive increased investment and population within the oceanside downtown core.
Program Highlights include;
- Priority processing
- Revitalization Tax Exemption for residential component of the development
- Building Permit fee reduction
- Planning Applications fees rebate
- Optimized parking requirements and design standards
- No affordable housing contribution for residential projects featuring at least 50% of adaptable units
- Sound attenuation guidelines provided by the Town
The Downtown Vitalization Area is shown shaded on the map below.