?| Chamber of Commerce

ed | hae INEQAMA TON serving ... Coquitlam, Port Coquitlam, Port Moody
aan 320 - 2755 Lougheed Highway. Port Coquitlam, B.C. V3B 5Y9
Telephone: 464-2333 / 464-2716

September 18, 1985

SEP 23 1995

City of Pore Coquitlam
2272 McAllister Avenue
Port Coquitlam, B.C.
V3C 2A8

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Attention: Mayor Len Traboulay

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Dear Mayor Traboulay:

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Re: Partners in Enterprise Program

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We are writing to state our position in respect of the above~noted program.
We appreciate that this letter reiterates certain apsects of the program of
which you are aware, but we feel this is necessary in addressing an issue
upon which a decision is not easily reached but an issue which may have a
substantial impact on development | in our community. .

The program involves Provincial Gcvertment and Municipalities entering into
agreements under Section 2 of the Provincial—Municipal Partnership Act. |
This legislation involves a ‘multitude of provisions which are directed at
She stimulation of economic renewal within British Columbia.

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The major thrust of the program is to offer special tax incentives and -
reduced fees to new or expanding industrial business in the Class 5

category as prescribed by the Lieutenant Governor in Council under Section
26 of the Assessment Act (we enclose a copy of the Class 5 provisions).
Primarily, this is accomplished by requiring, under Section 3(2) of the
Provincial-Municipal Partnership Act, that the Municipality signing the
agreement must provide tax reductions of not less than fifty (50%) percent:
to businesses qualifying under the legislation. Therefore, it is important
to note that businesses which receive a benefit are those primarily in this
industrial class and in respect of which new construction is undertaken.

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