­The City of Lethbridge’s Targeted Redevelopment Incentive offers a tax incentive for targeted redevelopment projects in our urban core districts that have a budget of at least $500,000. The incentive supports these projects by reducing the municipal tax increases between pre-­renovation assessments and post-renovation assessments.

Apply

To apply for the Targeted Redevelopment Incentive for your redevelopment project, please submit a Targeted Redevelopment Incentive Application Package to Crystal.Scheit@lethbridge.ca

along with any supporting documents.

Once we receive your application and confirm that is it complete, we will present it to City Council for approval.

Eligibility criteria

To qualify for the Targeted Redevelopment Incentive, redevelopment projects must involve developing, redeveloping or renovating residential or commercial lands and buildings that are:

• Located within one of Lethbridge’s urban core districts including Downtown, Warehouse District, or 13 Street North, and/or
• Classified as a brownfield property

Minimum construction value and incentives

Projects must consist of either new building construction or significant renovation construction with a minimum construction value. The value of the incentive that a project receives is based on the increase in municipal taxes between the pre-renovation assessment and the post-renovation assessment. View the incentive periods and incentive values for different minimum construction values:

Projects funded through the Targeted Redevelopment Incentive are eligible to access other City incentives. However, the total combined City incentive funding for a project cannot exceed the total maximums outlined in the table above, based on which incentive period they qualify for. This condition is void 10 years after the incentive period is complete.

Here are two examples to illustrate this process:

• Example 1: If Project A is eligible for a five-year incentive of $30,000 annually ($150,000 total), the project would be eligible for up to $150,000 in other incentive program funding
• Example 2: If Project B is eligible for a five-year incentive of $60,000 annually ($300,000 total), the project will have reached its maximum and would not be eligible for any additional incentive program funding

For more information on incentive calculations, project compliance and project eligibility, please refer to the “Procedure” section in the Targeted Redevelopment Incentive Program Policy.