C-47.1 - Municipal Powers Act

Full text
84.4. A local municipality may, by by-law, establish an assistance program aimed at promoting the construction or development of rental dwellings, except for dwellings intended for tourism purposes.
The financial assistance may take the form of a subsidy, a loan or a tax credit and its duration must not exceed 5 years or, in the case of a loan, 20 years. The Municipal Aid Prohibition Act (chapter I-15) does not apply to such assistance.
The program must include rules to ensure that a dwelling built with the help of assistance referred to in the first paragraph continues to be used for residential rental purposes for at least five years.
The by-law referred to in the first paragraph must be approved by the Minister if the annual average of the total value of the assistance that may be granted exceeds $25,000 or 1% of the total appropriations provided for in the municipality’s budget for its operating expenses for the current fiscal year, whichever is higher.
After the adoption of a by-law submitted to the Minister for approval, the municipality must give public notice describing the object of the by-law and stating the right of any taxpayer to send his or her written objection to the Minister within 30 days following publication of the notice. Each year, a report on the assistance granted under the program is submitted to the council of the municipality. The report is then published on the municipality’s website or, if it does not have a website, on the website of the regional county municipality whose territory includes that of the municipality.
2023, c. 33, s. 32.