The Vacant Lot & Adaptive Re-Use Incentive Program is designed to encourage development on existing vacant or brownfield sites, and the re-use of vacant buildings in established areas of the city, including the Downtown, by providing financial and/or tax based incentives to owners of eligible properties.
Under the Vacant Lot & Adaptive Re-Use Incentive Program, a Maximum Incentive Amount will be equivalent to the increment between the existing property taxes (city portion) and the taxes paid upon completion, multiplied by five years.
The amount of the final grant is determined through an evaluation system, based on points linked to policy objectives identified in the City’s Official Community Plan and Downtown Plan. The points are used to determine what percentage of the total Maximum Incentive Amount may be available to the applicant. Under the Program, applicants are given a choice of a five-year tax abatement, or a grant.
For more information, please visit City of Saskatoon’s web page on Vacant Lot & Adaptive Reuse Strategy.