WINNIPEG – Five downtown developments are getting a break from the tax man.
Premier Brian Pallister and Mayor Brian Bowman were on hand at the historical James Avenue Pumping Station on Friday to announce their administrations will invest $32 million on the new rental unit property developments.
The projects including the revitalization of the pumping station will receive tax increment financing (TIF) as part of the Live Downtown: Rental Development Grant Program.
“A vibrant and prosperous downtown core contributes to the strength of Manitoba as a whole and our government is pleased to work in partnership with the city to advance this priority,” says Premier Brian Pallister.
Of the more than 700 rental units planned for the five developments, 75 will be affordable housing units.
“As mayor, I’ve been a big proponent of finding ways to encourage more people to live downtown,” says Mayor Brian Bowman.