396B Repayment Requirement In Relation To Heritage Exemptions

• 396B (1) A by-law under section 396A may provide that, if any of the following circumstances as specified in the by-law occur, the Council may require the owner of the eligible heritage property at that time to pay to the city an amount equivalent to the total taxes exempted under the by-law plus interest from the time at which the exempt taxes would otherwise have been payable, compounded annually at the rate established under section 415 for delinquent taxes:

• (a) if the eligible heritage property is destroyed, whether with or without proper authorization under the requirements of the heritage protection of the property;
• (b) if the eligible heritage property is altered by or on behalf of the owner without proper authorization under the requirements of the heritage protection of the property;
• (c) if any other circumstances specified in the by-law occur.

• (2) A by-law under section 396A that includes a provision under subsection (1) may not be adopted without the consent of the owner of the eligible heritage property to which the by-law applies.
• (3) If a by-law under section 396A includes a provision under subsection (1), within 30 days after the by-law is adopted the Council must have notice of the by-law filed in the land title office in accordance with section 601.
• (4) If a by-law under section 396A includes a provision under subsection (1) and a circumstance referred to in the provision occurs, the Council may, by by-law adopted by at least 2/3 of the votes cast, either

• (a) require the owner to pay the amount referred to in subsection (1), or
• (b) waive the obligation of the owner to pay all or part of the amount referred to in subsection (1).

• (5) If the Council does not adopt a by-law under subsection (4)(a) within one year after it becomes aware of the circumstance in relation to which the by-law could be adopted, the Council is deemed to have waived all obligation of the owner to pay the amount referred to in subsection (1).
• (6) If the Council adopts a by-law under subsection (4)(a) within the time period referred to in subsection (5), the Council may

• (a) add the amount referred to in subsection (1) to the taxes for the current year payable to the city in relation to the eligible heritage property, or
• (b) make an agreement with the owner regarding payment of the amount referred to in subsection (1) as a personal debt to the city.

1994-43-92.