BYLAW NO. 1656

A BYLAW TO EXEMPT NON-PROFIT AFFORDABLE HOUSING AT 550 GOLDSTREAM AVENUE FROM TAXATION FOR TEN YEARS

CITY OF LANGFORD

WHEREAS under the provisions of Section 224 of the Community Charter, the Municipal Council of the City of Langford may, by bylaw, exempt land and improvements from taxation;

NOW THEREFORE the Council of the City of Langford, in open meeting assembled, hereby enacts as follows:

The land and improvements particularly described as:

Roll No. 01-62-327-03584.006
Lot: A, Plan EPP28662, Section 1, Esquimalt District
PID: 029-895-715
M’Akola Housing Society
550 Goldstream Avenue

Shall subject to section 2, hereby be exempt from taxation for the ten years 2017 through 2026, inclusive.

The exemption from taxation is subject to the property being used exclusively for non-profit affordable housing, including uses ancillary to the delivery of affordable housing, during the ten year term of the exemption.

If during the term of the tax exemption the property ceases to be used for the purposes specified in section 2, this bylaw will cease to apply to the property and the property will be liable to taxation.

This Bylaw may be cited as the “Tax Exemption Non-Profit Affordable Housing Bylaw No. 1656, 2016”

READ A FIRST TIME this day of , 2016.

READ A SECOND TIME this day of , 2016.

READ A THIRD TIME this day of , 2016.

ADOPTED this day of , 2016.

MAYOR

        (Certified Correct)

CORPORATE OFFICER

Key facts

BYLAW NO. 1656

CITY OF LANGFORD