New Downtown Lethbridge Development Approved for Municipal Tax Incentive

Planned redevelopment of vacant property at 608 5th avenue south

The Targeted Redevelopment Incentive Policy was amended last August to attract investment to the downtown core.

A new development in downtown Lethbridge is getting the green light for a municipal tax incentive.
 
The owners of a vacant property at 608-5th avenue south were given approval at Monday's council meeting for a seven-year incentive period with an estimated tax cancellation of $680,000. The Targeted Redevelopment Incentive Policy was amended last August to attract investment to the downtown core.
 
Urban Revitalization Manager, Andrew Malcolm says it's a great policy and concept and now it's coming to fruition with this first project being approved.  He also says he's been speaking with people involved in three or four other developments who are also excited about what the incentive could mean for downtown Lethbridge.
 
Malcolm says people in the downtown are in better spirits as of late and adds the vibrancy is starting to return to the area.
 
Andrew Malcolm
 

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