City of Vernon staff say development activity in the city is still going strong.
Economic Development Manager Kevin Poole says among the new projects is an application for a Four Points Sheraton Hotel and convention centre at 5400 Anderson Way
Other activity includes the second ice-sheet at of Kal Tire Place, and a proposed redevelopment of the former Legion site on 31st Avenue.
“Building permits were up 14 per cent in 2016 and we’re seeing that same level of activity in 2017,” says Poole. “In the first quarter of 2017, 87 permits were issued with a total building permit value of $24.3 million. Single family residential construction continues to show solid activity with 42 permits issued with a corresponding building permit value of $15.3 million.”
In terms of revenues received from the collection of the Municipal Regional District Tax (MRDT), also known as the hotel room tax, 2016 was up 12.4 per cent, totalling $693,255.73, which equates to $34.7 million in room revenue. Administration has received MRDT revenue for January 2017, which was also up over January 2016.
Poole says staff expect to submit the three-percent hotel tax application to Destination BC and the Ministry of Finance for approval later this month.
Photo: Artist rendering of proposed Four Points Sheraton on Anderson Way.