Yukon Housing Corporation (YHC) - Municipal Matching Program
YHC is offering a one-time capital grant to match the City's Development Incentives for rental housing units. Visit the YHC website for more information.
2016: A record-setting year for incentives
The City granted incentives for the construction of 89 new residential units in 2016! This includes 1 major incentive (42 units), 3 standard incentives, and 41 minor incentives (suites).
Development Incentives Policy
The City's Development Incentives Policy is intended to encourage strategic development within Whitehorse through tax grants for eligible projects. Only developments located within the Urban Containment Boundary (see Map 5 of the Official Community Plan) will be considered. Three levels of incentive are available:
Minor Incentive: Grant to cover 100% of Development Cost Charges (DCCs) for the development of either a living or garden suite. For information, see:
Standard Incentive: Tax grant of up to $50,000 over 10 years for the development of one of the following projects:
- Multiple housing development with a minimum of 4 units, constructed Downtown;
- Mixed-use development with a minimum of 4 units, constructed outside of Downtown in either the CN or CNC zone.
Major Incentive: Tax grant of up to $500,000 over 10 years for the development of one of the following projects:
- Mixed-use (minimum 25 residential units) or multiple housing (minimum 30 units) development constructed Downtown, including an offsite amenity;
- Mixed-use development with underground parking and an off-site amenity constructed Downtown;
- Mixed-use building in the CPG zone;
- Develop a minimum of 4 rental housing units for a minimum of 10 years; or
- Develop a minimum of 4 supportive housing units (owned and operated by a non-profit organization).
How are Development Incentives calculated?
Minor incentives are a one-time payment based on the Development Cost Charges for your Secondary Suite.
Standard and Major incentives are a tax grant based on the increase in property taxes triggered by your development. Standard incentives are graduated - 100% of the tax increase is paid back in the first year, then the grant is reduced each year by 10%, or until the maximum grant amount has been achieved. Major incentives are not graduated - they are in the amount that the developer would have paid in annual municipal taxes as a result of improvements to the property.
Development Incentives are only applied to the value of improvements to the property - taxes applied to the value of land are not eligible for incentives.
Applications for Incentives must be received prior to City issuance of a Building Permit.
New Incentives Study
In March 2015 Vector Research and Westropp Management Consulting completed an assessment on the potential for new development incentives for Downtown properties. You can read the final report, Downtown Development Incentives Assessment Report and view the list of underdeveloped properties.
Kinden Kosick, Planner, 668-8348, firstname.lastname@example.org