City of Airdrie Downtown Community Revitalization Levy Regulation

(no amdt) ALBERTA REGULATION 253/2022 Municipal Government Act CITY OF AIRDRIE DOWNTOWN COMMUNITY REVITALIZATION LEVY REGULATION Table of Contents 1 Definitions 2 Scope of Regulation 3 Establishment of community revitalization levy area 4 Community revitalization plan 5 Community revitalization levy bylaw 6 Borrowing bylaw 7 Preparation of assessments 8 Community revitalization assessment roll 9 Community revitalization levy roll 10 Community revitalization levy rate bylaw 11 Calculating amount of levy 12 Separate fund required 13 Application of Parts 9 to 12 of Act 14 Termination of a community revitalization levy bylaw 15 Reporting 16 Expiry Schedule Definitions 1 In this Regulation, (a) “Act” means the Municipal Government Act ; (b) “Airdrie Downtown Community Revitalization Levy Area” means the City of Airdrie community revitalization levy area established pursuant to section 3; (c) “assessment baseline” means the property assessment of each property within the Airdrie Downtown Community Revitalization Levy Area as of December 31 of the year in which the community revitalization levy bylaw is approved in accordance with section 381.2(4) of the Act; (d) “community revitalization levy bylaw” means a bylaw passed by the council to impose a levy in respect of the incremental assessed value of property in the Airdrie Downtown Community Revitalization Levy Area; (e) “community revitalization levy rate” means the rate imposed under a community revitalization levy bylaw for the applicable assessment class or sub‑class of property; (f) “council” means the council of the City of Airdrie; (g) “incremental assessed value” has the meaning given to it in section 381.1(a) of the Act; (h) “property” has the meaning given to it in section 284(1)(r) of the Act. Scope of Regulation 2 (1) This Regulation applies only to property located in the Airdrie Downtown Community Revitalization Levy Area. (2) Sections 6 to 15 apply only if (a) the council passes a community revitalization levy bylaw in respect of the Airdrie Downtown Community Revitalization Levy Area, and (b) the community revitalization levy bylaw is approved in accordance with section 381.2(4) of the Act. Establishment of community revitalization levy area 3 This Regulation establishes a community revitalization levy area in the City of Airdrie, known as the Airdrie Downtown Community Revitalization Levy Area, on the lands described in the Schedule. Community revitalization plan 4 (1) Before passing a community revitalization levy bylaw in respect of the Airdrie Downtown Community Revitalization Levy Area, the council must (a) prepare a community revitalization plan for the Airdrie Downtown Community Revitalization Levy Area, (b) hold one or more public hearings on the proposed community revitalization plan in accordance with section 606 of the Act, and (c) make and keep a record of any public hearings and make the results of those public hearings available to the public. (2) A community revitalization plan must address (a) the objectives, risks and benefits associated with the plan, (b) the need for the plan, including substantiation that redevelopment will not progress significantly in its absence, (c) the costs associated with the plan, including the amount and timing of projected (i) redevelopment capital costs, (ii) borrowing costs, and (iii) other costs, (d) the revenues associated with the plan, including the amount and timing of projected (i) community revitalization levies in respect of the incremental assessed value of property in the Airdrie Downtown Community Revitalization Levy Area, (ii) general municipal revenues, and (iii) other revenue sources, (e) the amount, timing and source of projected borrowings associated with the plan, and the amount and timing of the repayments, (f) a low, medium and high projection of estimated changes in the incremental assessed value of property in the Airdrie Downtown Community Revitalization Levy Area and the consequent impact on projected revenues from community revitalization levies, (g) how the municipality will fund any shortfall in the event that actual revenues associated with the plan are not sufficient to provide for the actual costs and repayment of borrowings associated with the plan, (h) the proposed land uses for the Airdrie Downtown Community Revitalization Levy Area, (i) the proposed phasing of development in the Airdrie Downtown Community Revitalization Levy Area, (j) the impact, if any, that the redevelopment of the Airdrie Downtown Community Revitalization Levy Area will have on the residents of that area, (k) which features, facilities and characteristics of the municipality will be adversely affected by the redevelopment of the Airdrie Downtown Community Revitalization Levy Area and what is proposed to mitigate those effects, (l) which historically significant buildings in the Airdrie Downtown Community Revitalization Levy Area will be conserved and maintained and how they will be conserved and maintained, and (m) the expected role of private sector developers in the redevelopment of the Airdrie Downtown Community Revitalization Levy Area. (3) A community revitalization plan must be consistent with the land use policies established by the Lieutenant Governor in Council under section 618.4 of the Act. Community revitalization levy bylaw 5 A community revitalization levy bylaw must include all of the information required to be included in the community revitalization plan. Borrowing bylaw 6 Despite sections 256 to 263 of the Act, a borrowing bylaw for the purpose of implementing the community revitalization plan, in whole or in part, must be advertised in accordance with section 606 of the Act. Preparation of assessments 7 Assessments of property in the Airdrie Downtown Community Revitalization Levy Area must be prepared in the same manner as similar properties in the municipality in accordance with Part 9 of the Act, as modified by this Regulation. Community revitalization assessment roll 8 (1) The municipality must prepare annually, not later than February 28, a community revitalization assessment roll. (2) A community revitalization assessment roll may be a continuation of the assessment roll prepared under Part 9 of the Act or may be separate from that roll. Community revitalization levy roll 9 (1) The municipality must prepare annually a community revitalization levy roll. (2) A community revitalization levy roll may be a continuation of the tax roll prepared under Part 10 of the Act or may be separate from that roll. (3) A community revitalization levy roll must show the same information required to be shown on the tax roll in accordance with section 329 of the Act. Community revitalization levy rate bylaw 10 (1) The council must pass a community revitalization levy rate bylaw annually. (2) A community revitalization levy rate bylaw must (a) set and show separately all of the community revitalization levy rates that must be imposed to raise the revenue required to meet the levy increment financing program and council’s approved budget, and (b) not be imposed in respect of property that is (i) exempt under section 351, 361 or 362 of the Act, (ii) exempt under section 363 of the Act, unless a bylaw passed under that section makes the property taxable, or (iii) made exempt from taxation by a bylaw passed under section 364 of the Act. (3) A community revitalization levy rate must be equal to or greater than the tax rates established annually for the corresponding property tax bylaw for each assessment class or sub‑class of property referred to in section 297 of the Act. (4) A community revitalization levy rate bylaw may set out the class and sub‑class tax rates for the municipal property tax, the school requisition and the community revitalization levy rate. Calculating amount of levy 11 (1) The amount of the levy to be imposed in respect of property located in the Airdrie Downtown Community Revitalization Levy Area is to be calculated by multiplying the incremental assessed value of the property by the community revitalization levy rate to be imposed on that property. (2) If a tax exempt property in the Airdrie Downtown Community Revitalization Levy Area becomes taxable or partially taxable, the community revitalization levy for that property is to be calculated on a prorated basis by applying the community revitalization levy rate to the incremental assessed value of the taxable portion of the property. (3) The community revitalization levy under subsection (2) is to be applied beginning in the year that the property becomes taxable or partially taxable. (4) If a tax exempt property in the Airdrie Downtown Community Revitalization Levy Area becomes taxable or partially taxable, the assessment baseline for that property shall be excluded from the equalized assessment beginning in the year that the property becomes taxable or partially taxable. (5) If taxable property in the Airdrie Downtown Community Revitalization Levy Area becomes tax exempt, no community revitalization levy is to be applied to that property beginning in the year that the property becomes exempt. (6) If there is (a) a subdivision affecting the property within the Airdrie Downtown Community Revitalization Levy Area, or (b) a consolidation of 2 or more properties within the Airdrie Downtown Community Revitalization Levy Area, in respect of which a community revitalization levy is payable, the municipality must reallocate the assessment baseline to each of the new properties in the year that the subdivision or consolidation occurs. (7) If there are changes to the assessment class or assessment sub‑class for a property, the municipality may revise the assessment class or sub‑class applicable to the property assessment baseline to reflect those changes with respect to future years. Separate fund required 12 A community revitalization levy collected from the Airdrie Downtown Community Revitalization Levy Area, and any interest earned from the investment of that levy, must be (a) accounted for separately from other levies collected, and (b) used only for the purposes specified in the community revitalization plan for the Airdrie Downtown Community Revitalization Levy Area. Application of Parts 9 to 12 of Act 13 Except as modified by this Regulation, Parts 9 to 12 of the Act relating to the assessment and taxation of property apply with the necessary modifications to a community revitalization levy, and, for that purpose, a reference in those Parts to (a) a tax imposed under Part 10, Division 2 is deemed to be a reference to a community revitalization levy, (b) a property tax bylaw is deemed to be a reference to a community revitalization levy bylaw, (c) an assessment roll is deemed to be a reference to a community revitalization assessment roll, and (d) a tax roll is deemed to be a reference to a community revitalization levy roll. Termination of a community revitalization levy bylaw 14 The community revitalization levy bylaw is terminated on the earliest of the following: (a) at the end of a period of 20 years from the year in which the community revitalization levy bylaw is approved in accordance with section 381.2(4) of the Act; (b) the date that all borrowings for the Airdrie Downtown Community Levy Area are repaid or recovered from the revenues associated with the community revitalization plan; (c) an earlier date specified by the Lieutenant Governor in Council. Reporting 15 Commencing in 2023, on or before May 1 of each year, the City of Airdrie shall submit to the Minister, in the form and manner acceptable to the Minister, a report containing the required information relating to the community revitalization levy, including the information relating to (a) the amount of revenue raised by the levy from year to year, broken down by (i) the equivalent of the municipal portion, and (ii) the equivalent of the education property tax portion, (b) the amount of revenue raised from other sources from year to year, (c) the amount of costs incurred under the community revitalization plan from year to year, and (d) the incremental assessed value within the Airdrie Downtown Community Revitalization Levy Area for the year and previous years. Expiry 16 For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on December 31, 2032. Schedule All lands in the City of Airdrie contained in the area shown on the following map and which may be described, approximately, as follows: All the lands contained within the area commencing at the northeast corner of the lands legally described as Lot 3 Block 1, Plan 938LK; thence southerly along the east boundary of said Lot 3 to the southeastern corner of said Lot 3; thence southerly along the east boundary of Condominium Plan 981 0985 to the point of intersection with the north limit of 2nd Avenue N; thence southeasterly across 2nd Avenue N to the northeast corner of Lot 1 Block 2 Plan 1127O; thence southerly along the east boundary of Lot 1 Block 2 Plan 1127O to the southeast corner of Lot 1; thence southerly across the Lane to the northeast corner of Lot 13 Block 2 Plan 1127O; thence southerly along the east boundary of Lot 13 Block 2 Plan 1127O to the southeast corner of Lot 13 to a point of intersection with the north limit of 1st Avenue N; thence southerly across 1st Avenue N to the northeast corner of Lot 24 Block A Plan 4445K; thence westerly along the north boundary of Lot 24 Block A Plan 4445K to the northwest corner of Lot 24; thence westerly across the Lane to the northeast corner of Lot 1 Block A Plan 4445K; thence southerly along the west boundary of the Lane within Block A Plan 4445K to the southeast corner of Lot 16 Block A Plan 4445K to a point of intersection with the north limit of Centre Avenue; thence southerly across Centre Avenue to the northeast corner of Lot 1 Block B Plan 4445K; thence southerly along the west boundary of the Lane within Block B Plan 4445K to the southeast corner of Lot 16 Block B Plan 4445K; thence southerly along the east boundary of the closed municipal road formerly known as 1st Avenue South to a point at the intersection with the north boundary of Lot 1 Plan 891 1473; thence easterly along the north boundary of Lot 1 Plan 891 1473 to the northeast corner of Lot 1; thence southerly along the east boundary of Plan 891 1473 to the southeast corner of the road on Plan 891 1473 and coincident with the northeast corner of Lot 5 Block 1 Plan 901 2410; thence southerly along the east boundary of Lots 5, 4 and 3 Block 1 Plan 901 2410 to the southeast corner of Lot 3 and coincident with the northeast corner of Lot 8 Block 1 Plan 081 2198; thence southerly along the east boundary of Lots 8 and 7 Block 1 Plan 081 2198 to the southeast corner of Lot 7 and coincident with the northeast corner of Lot 6 Block 1 Plan 051 1922; thence southerly along the east boundary of Lot 6 Block 1 Plan 051 1922 to the southeast corner of Lot 6; thence westerly along the north boundary of Lots 9PUL, 8 to 2 inclusive and Lot 1MR all within Block 1 Plan 801 1494 to the northwest corner of Lot 1MR to a point of intersection with the east limit of Main Street; thence westerly across Main Street to the northeast corner of Lot 1MR Block 1 Plan 791 1057; thence westerly along the north boundary of Lots 1MR, 2 to 6 inclusive and 7PUL all within Block 1 Plan 791 1057 to the northwest corner of Lot 7PUL and coincident with the northeast corner of Lot 11 Block 4 Plan 811 1923; thence westerly along the north boundary of Lots 11MR, 10, 9ER and 8 to 1 inclusive all within Block 4 Plan 811 1923 to the northwest corner of Lot 1 to a point of intersection with the east limit of Tower Lane Drive; thence westerly across Tower Lane Drive to the northeast corner of Lot 1MR Block 6 Plan 811 1923; thence westerly along the north boundary of Lot 1MR Block 6 Plan 811 1923 to the northwest corner of Lot 1MR; thence westerly across Railway Plan RY9 to the west Plan RY9 and coincident with the southeast corner of the road on Plan 221 0836; thence northerly along the common boundary between the west limit of Railway Plan RY9 and east limit of the road on Plan 221 0836 to the southeast corner of Area ‘B’ Plan 181 0820; thence northerly along the common boundary between the west limit of Railway Plan RY9 and Area ‘B’ Plan 181 0820 to the northeast corner of Area ‘B’ and coincident with the southeast corner of Area ‘A’ Plan 181 0820; thence westerly along the south boundary of Area ‘A’ Plan 181 0820 to the southwest corner of Area ‘A’ to a point of intersection with the east limit of Edwards Way NW; thence westerly across Edwards Way NW to the southeast corner of Lot 1 Block 1 Plan 091 2740; thence westerly along the south boundary of Lot 1 Block 1 Plan 091 2740 to the southwest corner of Lot 1 to a point of intersection with the east limit of Mackenzie Way; thence northerly along the east boundary of Mackenzie Way to the northeast corner of Mackenzie Way; thence westerly along the south boundary of Lot 1 Block 1 Plan 091 2740 to the southwest corner of Lot 1; thence northerly along the irregular west boundary of Lot 1 Block 1 Plan 091 2740 to the northwest corner of Lot 1 to a point of intersection with the south limit of 1st Avenue W; thence easterly along the south boundary of 1st Avenue W to the northeast corner of Plan 091 2738; thence northeasterly across 1st Avenue W to the southeast corner of Lot 29ER Block 4 Plan 991 2266 and coincident with the north limit of 1st Avenue W; thence northeasterly along the east boundary of Lot 29ER Block 4 Plan 991 2266 to the northwest corner of Lot 4 Block 8 Plan 031 0642; thence easterly along the north boundary of Lot 4 Block 8 Plan 031 0642 to the northeast corner of Lot 4; thence southerly along the east boundary of Lots 4 to 1 inclusive Block 8 Plan 031 0642 to the intersection of the north boundary of 1st Avenue NW; thence easterly along the north boundary of 1st Avenue NW to the intersection with the east limit of Railway Plan RY9; thence northerly along the east boundary of Railway Plan RY9 to the northwest corner of Block A Plan 3687JK; thence easterly along the north boundary of Block A Plan 3687JK to the northeast corner of Block A; thence southerly along the east boundary of Block A Plan 3687JK to a point at the intersection of the westerly production of the south boundary of the Lane on Plan 7155JK; thence easterly across the unnamed Street along the south boundary of the Lane on Plan 7155JK and Plan 1522N to a point at the intersection of the west boundary of 1st Street NW; thence easterly across 1st Street NW to the northwest corner of Lot 6 Block 1 Plan 1522N; thence easterly along the north boundary of Lots 6 to 3 inclusive Block 1 Plan 1522N to a point at the intersection of the southerly production of the east boundary of the Lane within Block 1 Plan 1543X; thence northerly across the Lane on Plan 1522N to the southwest corner of Lot 10 Block 1 Plan 1543X; thence northerly along the east boundary of the Lane within Block 1 Plan 1543X to the northwest corner of Lot 12 Block 1 Plan 1543X; thence from the northwest corner of Lot 12 northerly across 2nd Avenue N to a point at the intersection of the south boundary of Lot 3 Block 3 Plan 1543X with the northerly production of the east boundary of the Lane within Block 1 Plan 1543X; thence westerly along the south boundary of Lot 3 Block 3 Plan 1543X to the southwest corner of Lot 3; thence northerly along the west boundary of Lot 3 Block 3 Plan 1543X to the northwest corner of Lot 3; thence easterly along the north boundary of Lots 3 to 1 inclusive in Block 3 Plan 1543X to the northeast corner of Lot 1; thence to a point at the intersection of the easterly production of the south boundary of the Lane in Block 3 Plan 1543X with the centerline of Main Street; thence along the centerline of Main Street to a point at the intersection of the westerly production of the north boundary of Lot 3 Block 1 Plan 938LK; thence easterly along the westerly production of the north boundary of Lot 3 Block 1 Plan 938LK to the northwest corner of Lot 3; thence easterly along the north boundary of Lot 3 Block 1 Plan 938LK to the point of commencement.