In a move to tackle chronically vacant store fronts in the core, the city is looking at changing the subsidy it provides property owners when businesses sit vacant.
Council asked city staff to report back on a plan to lower the vacancy tax subsidy -- which is offered to owners when their store sits empty for more than 90 days. The current subsidy is 30 per cent for commercial properties, and 35 per cent for industrial properties.
“This subsidy, this rebate actually acts as a disincentive for them to lease out space,” says Windsor Mayor Drew Dilkens. “We're trying to remove that disincentive in targeted areas where we think that we should have more active space and fewer vacant storefronts."
Administration will draft a report, looking at lowering the rebate only in the Downtown Windsor BIA.
“With respect, we have spent more than $200 million in the downtown core, between streetscaping, purchase of assets and investment in different assets on the waterfront and elsewhere. So when we’re looking at activating buildings, certainly wanting to activate in the downtown core is important to us,” says Dilkens.
It will also consult with property owners about the impacts before going to the ministry for final approval. Dilkens says there likely won’t be any changes until 2018 at the earliest.
