Building Incentive Programs

The City of Cold Lake currently offers the following incentive programs for development. For more information, please call City Hall at 780-594-4494 or email ecdev@coldlake.com.   

Multiunit Rental Housing Incentive Program

(Policy 235-AD-24)

To stimulate the development of new rental housing within the community, the City is offering the Multiunit Rental Housing Incentive Program which provides a grant of $10,000 for each new rental dwelling unit constructed in an approved project consisting of four (4) or more dwelling units. Projects can be in the form of a multiplex, rowhouse, apartment or a mixed-residential/commercial building.
To be eligible for funding, the units must remain as rentals for a minimum period of five (5) years following completion and occupancy of the building and the applicant must have an approved Development Permit and Building Permit for their project, or, demonstrate that permits will be obtained within six (6) months of approval of their application for funding. Full eligibility details can be found in the program policy. Funding under this program is disbursed upon the City certifying that the project is complete with no outstanding deficiencies and is ready for occupancy.

The City has allocated funding for 100 new rental units to be created under this program and applications will be reviewed and approved on a first-come, first-served basis.

Secondary Suite Development Incentive

(Policy 237-AD-24)

The Secondary Suite Development Incentive Program aims to stimulate the development of new secondary suites, or the legalization of existing suites by offering a cash grant of $5,000 for each new or legalized suite created. Secondary Suites may take the form of basement suites, garage suites, or garden suites, and may only be constructed on the same parcel as a single-detached dwelling.
To be eligible for funding the project must have an approved Development Permit and Building Permit for their project, or, demonstrate that permits will be obtained within six (6) months of approval of the application for incentive program funding. Suites must be compliant with the City’s Land Use Bylaw 766-LU-23 and the National Building Code – 2023 Alberta Edition. Only suites that have been issued permits after the approval date of the program by Council are eligible for incentive funding. Full eligibility details can be found in the program policy. Funding under this program is disbursed upon the City certifying that the project is complete with no outstanding deficiencies and is ready for occupancy.

The City has allocated funding for 20 new secondary suites to be created under this program and applications will be reviewed and approved on a first-come, first-served basis.

Residential Demolition Grant

(Policy 240-AD-24)

The Residential Demolition Grant is meant to encourage homeowners to demolish their derelict residential properties. The intent of the grant is to offset some of the costs that can make demolition of unkept properties prohibitive. Each accepted grant application will be awarded up to $10,000 to cover the costs of the demolition process, including asbestos abatement. The criteria to be considered for this grant is as follows; The Property must be in a state of disrepair, in the opinion of the City of Cold Lake. The property must reside within the City limits and all applicable permits must be in place prior for the demolition.

The City has allocated funding for 5 grants and applications will be reviewed and approved on a first-come, first-served basis.

Water, Sanitary and Storm Service Connection

(Policy 216-DA-21)

Under Section 4.8.3 of the City’s Water, Sanitary and Storm Service Connection Policy 216-DA-21 the City will cover the cost of installing new water and sewer service connections to residential properties in situations where there are existing service connections that are, in the City’s sole opinion, unfit to be reused to service a new building. To be eligible, the property must have approved Development and Building Permits, and the applicant must provide a servicing plan to ensure that the new service connections will meet the needs of the new building.

The City is offering this incentive to encourage the redevelopment of older properties in mature neighbourhoods in the City. With the City covering the cost of replacing the service connections to the property, this reduces a significant financial risk that a property owner/developer may encounter when redeveloping in a mature neighbourhood. 

Business Retention and Attraction Incentive Program (BRAIP)

(Policy 120-FN-10)

The Business Retention and Attraction Incentive Program (BRAIP) was established by City Council in 2010 and has been renewed each year since. The purpose of the program is to:

• Encourage owners of commercial buildings to invest in improvements that enhance the appearance and function of the building or property;
• Attract new business opportunities to the city and encourage investment in new buildings;
• Encourage the demolition of existing buildings that may detract from the visual appeal of the community.

For more information, including the BRAIP application, visit our Business Retention and Attraction Incentive Program page. 

Vacant Lot Incentive Program

(Policy 234-FN-24)

The purpose of the Vacant Lot Sale Incentive Program is to promote development and growth within the City of Cold Lake by incentivizing property owners to sell their vacant land and development of prime locations which have remained vacant for many years. The City aims to do this by providing a tax rebate to current land owners, of vacant properties, who chose to sell their land under the Vacant Lot Incentive Program.

A one-time property tax rebate equal to the difference in taxes paid at the vacant tax rate and non-vacant tax rate, plus 5% will be provided to those who's property's qualify under this program.

To apply for this incentive program, click here.