Once again Cornwall’s City Council is refusing a 1.8 million dollar tax savings for an east-end development. There are many projects in the City moving forward without a tax savings, so what is the issue here?
The issue is that the east-end desperately needs development. Incentives like this would benefit long term development and growth.
After five years, the property would be paying taxes. In addition, development would increase surrounding property values, generate more growth, and increase our future tax base.
If we can afford a 4.5 million dollar tax increment savings to have Wal-Mart cross the road, why not help stimulate growth in the east-end?
Yes I still think it was the wrong decision by Council on Monday night. It demonstrates a lack of long term vision. We need a balanced approach to development in the City of Cornwall.
The planning advisory committee had already approved it. I assume their approval is based on a long term strategy for our City.
Quite simply put, tax breaks should be linked to a long term plan.
I would be in favour of tax breaks for under developed areas in our City. Once an area becomes suitably developed no future breaks would be needed in that area.
City Council candidates such as Guy St-Jean, Todd Bennett, and Mark A MacDonald have been critical of the lack of development happening in the east-end.
Councils decision Monday night reinforces this criticism.
Should the City Council do more to promote growth and development in the east-end of Cornwall? You are welcome to comment below or on social media.