City of Peterborough looking for input on potential Changes to vacancy Rebate Program

The City of Peterborough is considering changes to the Vacancy Rebate Program and they are looking for feedback from the business community.   

The options presented to City Council on Monday, April 24, 2017 were:

1. Eliminate the rebate program in its entirety beginning in 2018 for the 2017 tax year.
2. Phase out the program over a 3 year period:

• Applications received in 2018 for the 2017 tax year to be processed as normal.
• Applications received in 2019 for the 2018 tax year would be eligible for a rebate of 20% if commercial and 23.5% if industrial
• Applications received in 2020 for the 2019 tax year would be eligible for a rebate of 10% if commercial and 12 % if industrial.
• No rebate would be offered beginning in 2021.

    3. Status Quo – no changes to the current program.
    4. Revise the current program. Potential changes that may be considered include reducing the rebate percentage, increasing the minimum period of vacancy and limiting the property types eligible for the program.  

Please take a moment to read the suggested changes:  

Briefing on Vacancy Rebate Program

Please submit your comments to kmcphail@peterborough.ca no later than noon, Wednesday May 10, 2017.

Following the consultation process City Staff will be bringing a report and final recommendations to Council for their Committee of the Whole meeting on May 29, 2017 and expected final approval on June 5, 2017 meeting. 

If you have any questions, please contact Kim McPhail at 705-742-7777 ext. 1792.

Open House: The City of Peterborough will be holding open houses at City Hall, 500 George Street North on Tuesday May 9, 2017 from 2:00 p.m. to 4:00 p.m. in the Doris Room and from 6:00 p.m. to 7:00 p.m. in the front foyer.