The Prince Edward County Affordable Housing Corporation’s 40-unit project at 230 Niles Street in Wellington, the site of the former Duke Dome, has been deemed tax exempt.
Committee of the Whole approved the recommendation Thursday.
CAO Marcia Wallace told councillors this is the first time they’ve granted an exemption through the municipal capital facilities by-law that allows tax exemptions for affordable housing projects meeting specific requirements.
The by-law follows the lead of other municipalities offering the incentive to encourage the development of more affordable housing.
The tax exemption for the Niles Street project for 2023 equals $19,874.88.
In addition to approving the tax exemption, Committee of the Whole approved some changes in language to the by-law that staff discovered created some confusion.
The decisions are up for final approval at council’s meeting on November 14.
