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3918 To authroize a Development and Building Permit Fee Rebate and Assessment Rebate Program for 31 Maple LaneTHE CORPORATION OF THE TOWN OF TILLSONBURG BY-LAW NUMBER 3918 A BY-LAW to authorize a Development and Building Permit Fee Rebate and an Assessment Rebate Program for 31 Maple Lane, Town of Tillsonburg, County of Oxford. WHEREAS The Town ofTillsonburg is desirous of approving a Development and Building Permit Fee Rebate and an Assessment Rebate Program for the property known as 31 Maple Lane, through the municipality's Community Improvement Plan. AND WHEREAS Section 28 ( 4) of the Planning Act enables a municipal council to adopt a Community Improvement Plan. AND WHEREAS Council of the Town ofTillsonburg adopted a Community Improvement Plan on September 25,2006 by By-Law 3191. THEREFORE the Council of the Town ofTillsonburg enacts as follows: 1. THAT a rebate for Development and Building Permit fees be provided for the addition of twelve (12) one bedroom affordable apartments for seniors; 2. THAT the terms of the Assessment Rebate Program shall be as follows; • For a period of 10 (ten) consecutive years, having commenced on January 1, 2016 and ending on the 31st day of December 2026 • That the Tax Increase shall be phased in on the incremental increase in property taxes as 90%, 80%, 70%, 60%, 50%, 40%, 30%, 20%, 10% and 0%. 3. That the Town ofTillsonburg Tax Revenue Manager initiates this program on the passing of this by-law. 4. THAT the by-law shall take full force and effect upon final passage hereof. READ A FIRST AND SECOND TIME THIS 11th DAY OF JUNE, 2015. READ A THIRD AND FINAL TIME AND PASSED THIS 11th DAY OF JUNE, 2015. ~h.-~ YOR-Stephen Molnar ~ CLERK-Donna Wilson