Development Incentive Bylaw

The Town of Neepawa has established a development incentive program to attract new residents and businesses, encourage existing residents and businesses to remain, and to encourage new residential, commercial and industrial development.

Eligible Developments

• New multiple-unit residential developments constructed entirely on site.
• New construction of commercial/industrial structures.
• Expansion of existing commercial/industrial structures (incentive applies only to the value of the square footage added to the existing structure).
• Development projects that have not received other infrastructure or financial incentives for the construction activity being considered.
• Replacements of existing structures may be considered eligible if the incremental assessed value or difference between the assessment of the new structure and the structure being
  replaced meets the guidelines under Section 2.13 or 2.14.
• Interior alterations or renovations may be considered eligible if they serve to increase the taxable assessment of the improvement as per Section 2.13 or 2.14.
• All development must comply with building code standards and applicable by-laws.

Tax Incentives

• Developers of Multiple-Unit Residential Developments (6 or more dwelling units) will be eligible to receive a progressive tax credit on municipal taxes, over a period of three (3) years for constructing a multiple-unit residential zoned property that increases the current assessed value of the property by a minimum of $750,000.00.
• Developers will be eligible to receive a tax credit equivalent to 50% of municipal taxes per year for two (2) years for constructing or expanding a commercial or industrially zoned property that increases the assessment value of the property by a minimum of $500,000.00.
• To encourage large industry and manufacturing businesses to locate, operate and provide employment within the Town of Neepawa, development that increases the assessed value of a property by a minimum of $1,000,000.00 will be eligible to receive tax credit incentives over a period of four (4) year.

For full program details, types of tax incentives, and how to apply, please view the By-Law.