There is currently one incentive program available through the M.D. This program was developed by the Council to encourage low, medium and high density residential subdivisions in an effort to accommodate a balanced future growth.
Subsidized Subdivision Grant Program (Land Policy L.2)
The Subsidized Subdivision Grant program is available for residential properties only. Under a subdivision grant agreement, the proponent will contribute $5,000 which will be refunded to them subject to a second residence being placed, with a minimum assessed value of $50,000 (including a permanent foundation), on the newly created parcel within two (2) years of its registration. So essentially, the subdivision related services shown below will be done for free:
- Road Access / Approach (Value - $2,500)
- Water / Sewer Tank Services (Value - $15,000)
- Water / Sewer Tie in Services (Value - $8,000)
- Subdivision Applications Fees
- Endorsement Fees
- Legal Survey Costs
- Utility Services Right of Way Easements if required
ELIGIBILITY / SELECTION PROCESS:
- First-come, first-served basis: Applicants will be received Jan 1 - April 30 of each year. Applications received after the deadline may considered based on budget.
- Priority shall be given to one split only and, subject to budget availability, multiple lot splits.
- The existing building standards and the minimum size of the pre-subdivided lot must meet the Land Use Bylaw 2013-14 requirements.
- If the parcel is vacant, a two-lot split is eligible subject to both lots being developed, with the newly created parcel developed within the allotted time period. The M.D. will supply two sets of services for one $5,000 deposit.
- A Development Agreement is required once the application is approved, which will set out the owner’s initial contribution of $5,000, which must be paid with the application.