{"id":32445,"date":"2023-07-21T16:11:26","date_gmt":"2023-07-21T19:11:26","guid":{"rendered":"https:\/\/www.chmafm.com\/welcome\/?p=32445"},"modified":"2023-08-11T11:38:03","modified_gmt":"2023-08-11T14:38:03","slug":"proposed-dental-clinic-and-apartments-first-to-receive-tantramars-development-tax-incentive","status":"publish","type":"post","link":"https:\/\/www.chmafm.com\/welcome\/proposed-dental-clinic-and-apartments-first-to-receive-tantramars-development-tax-incentive\/","title":{"rendered":"Proposed dental clinic and apartments first to receive Tantramar&#8217;s development tax incentive, Lafford applies to become second"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1280\" height=\"849\" sizes=\"(max-width: 1280px) 100vw, 1280px\" src=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/East-Coast-Dental-2023-07-17-at-4.10.32-PM-1280x849.png\" alt=\"\" class=\"wp-image-32446\" srcset=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/East-Coast-Dental-2023-07-17-at-4.10.32-PM-1280x849.png 1280w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/East-Coast-Dental-2023-07-17-at-4.10.32-PM-768x509.png 768w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/East-Coast-Dental-2023-07-17-at-4.10.32-PM-1536x1018.png 1536w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/East-Coast-Dental-2023-07-17-at-4.10.32-PM-2048x1358.png 2048w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/East-Coast-Dental-2023-07-17-at-4.10.32-PM-1320x875.png 1320w\" \/><figcaption>Detail from application for development incentive by 721052 N.B. Inc, presented to Tantramar council June 27, 2023.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">A $1.3 million dollar mixed-use building project for 35 Main Street will be the first project to receive an incentive in the form of a tax rebate from the new town of Tantramar, based on a policy <a href=\"https:\/\/warktimes.com\/2020\/03\/10\/laffords-could-benefit-from-sackvilles-new-tax-rebate-scheme\/\" target=\"_blank\" rel=\"noreferrer noopener\">passed in Sackville in March 2020<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A Moncton-based dental surgeon has plans for the vacant lot just uphill from Sackville town hall. Daniel Nachaat is listed as the director of the numbered company that bought the vacant property in 2021. This year, Nachaat\u2019s company applied to the town\u2019s economic development incentive program with a proposal for a three-storey development including a ground floor dental clinic, and two upper floors with a total of eight one-bedroom apartments.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" sizes=\"(max-width: 1185px) 100vw, 1185px\" src=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.29.13-PM-1185x1280.png\" alt=\"\" class=\"wp-image-32447\" width=\"650\" height=\"702\" srcset=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.29.13-PM-1185x1280.png 1185w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.29.13-PM-768x829.png 768w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.29.13-PM-1422x1536.png 1422w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.29.13-PM-1320x1425.png 1320w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.29.13-PM.png 1704w\" \/><figcaption>The site plan for 35 Main Street includes 26 parking spaces. \nDetail from application for development incentive by 721052 N.B. Inc, presented to Tantramar council June 27, 2023.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The project is being managed by Dieppe-based real estate investment company Quest Capital and is the first ever development to apply for and be approved under the new incentive program, which offers property owners a 50% or more tax rebate over 5 or 10 years, for commercial, industrial or multi-unit residential projects.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Quest Properties project is estimated at costing $1.3 million, and without the incentive program, would bring in an additional $25,000 per year in taxes for the municipality. With the incentive program in place, more than half of that potential tax revenue, about $72,000 over the first five years, will stay with Nachaat\u2019s company. The municipality will still collect about $52,000 in taxes during that time. Despite the deep discount, the revenue will be significantly higher than what Nachaat currently pays on the vacant property, which is under $900 per year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tantramar\u2019s Director of Corporate and Community Services, Kieran Miller, says the incentive program is based on <a href=\"https:\/\/www.cbc.ca\/news\/canada\/new-brunswick\/development-greater-moncton-riverview-dieppe-1.5093986\" target=\"_blank\" rel=\"noreferrer noopener\">similar ones in Moncton and Riverview<\/a>. \u201cWe\u2019re obviously a different scale,\u201d says Miller. \u201cThey&#8217;re seeing significantly higher and larger scale developments. But we did use them as a guide when developing our program.\u201c<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Miller says the intent is \u201cto create opportunities and accelerate investment in specific areas of the community where new growth and redevelopment can be accommodated, and where we&#8217;re really hoping to see development.\u201d The program applies to all properties zoned Mixed Use, urban residential 3 (R3), industrial, and highway commercial.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" width=\"1280\" height=\"861\" sizes=\"(max-width: 1280px) 100vw, 1280px\" src=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.38.29-PM-1280x861.png\" alt=\"\" class=\"wp-image-32448\" srcset=\"https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.38.29-PM-1280x861.png 1280w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.38.29-PM-768x517.png 768w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.38.29-PM-1536x1033.png 1536w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.38.29-PM-2048x1377.png 2048w, https:\/\/www.chmafm.com\/welcome\/wp-content\/uploads\/2023\/07\/Screen-Shot-2023-07-21-at-2.38.29-PM-1320x888.png 1320w\" \/><figcaption>Detail from Sackville&#8217;s zoning map. Full interactive map available at <a href=\"https:\/\/plan360.ca\/area\/tantramar\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/plan360.ca\/area\/tantramar<\/a><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Miller says the hope is that the grants act as a \u201ccatalyst for increased development activities, and then that in turn can help attract other types of businesses, new residents and new employment opportunities.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Currently the program only applies to properties in the former town of Sackville, but Miller says, \u201cit\u2019s something we could certainly look at expanding as we get our different plans and bylaws and policies in order.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nachaat is the first developer to apply for the incentive since it was passed in 2020, but Miller attributes that lack of interest to the pandemic slowdown. Another recent major development\u2014the pipe factory built by AIL Group on Walker Road\u2014would have been a candidate for the incentive, but did not apply. And town staff recently received an application from JN Lafford regarding their proposed development at 131 Main Street.  The details of that application will come before council <a href=\"https:\/\/sackville.com\/wp-content\/uploads\/2023\/05\/01-Tantramar-Agenda-July-25-2023.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">on Tuesday at the Tantramar council committee of the whole meeting<\/a>, scheduled for 3pm. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A $1.3 million dollar mixed-use building project for 35 Main Street will be the first project to receive an incentive in the form of a tax rebate from the new [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":32446,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_tec_requires_first_save":true,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"_tribe_blocks_recurrence_rules":"","_tribe_blocks_recurrence_description":"","_tribe_blocks_recurrence_exclusions":"","footnotes":""},"categories":[472,492,482,558],"tags":[1310,668,1219,1314,1316],"class_list":["post-32445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-daily-news","category-front-page","category-weekly","tag-economic-development-incentive","tag-kieran-miller","tag-planning","tag-planning-and-development","tag-quest-properties"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Proposed dental clinic and apartments first to receive Tantramar&#039;s development tax incentive, Lafford applies to become second &#187; 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