At its September 8 meeting, the Town of Peace River Council approved a new Industrial and Commercial Tax Incentive Bylaw aimed at encouraging business growth and revitalizing underused commercial areas.
The bylaw introduces a tiered tax exemption program for qualifying commercial and industrial projects. Eligible developments—including new builds, major renovations, or expansions valued at $150,000 or more—can now receive a partial property tax exemption over three years. The exemption applies to the increase in assessed value and will be granted at a rate of 75% in the first year, 50% in the second, and 25% in the third, with a maximum benefit of $250,000.
Town officials say the new bylaw is designed to stimulate local investment, attract new businesses, create jobs, and boost economic activity across Peace River.
Council also approved the Development Permit Application for the redevelopment of the former Lions Campground site, now owned by Peace River Adventures. The permit will allow the construction of 10 all-season rental cabins and 10 seasonal camping stalls, supporting year-round tourism and local economic development. The approval is subject to specific conditions outlined in an administrative report.
Keith Hopper, Trending 55
