WINNIPEG — The city could forgo millions of dollars of future property tax revenue to help pay for phase one of the Railside development at The Forks.
A report before the Mayor’s Executive Policy Committee recommends 80 per cent of municipal tax dollars over 20 years, up to $7.9 million, be granted for public spaces in the development.
The report said that could include plazas, courtyards, walkways, streetscape enhancements, landscaping, seating, lighting, and art.
The province announced a similar tax incentive last year of $11.9 million.
The city report said the first two phases of the project are estimated to include 324 residential units and 66,000 square feet of commercial ground floor space.
