AR 204/2012 COCHRANE COMMUNITY REVITALIZATION LEVY REGULATION (no amdt)
ALBERTA REGULATION 204/2012
Municipal Government Act
COCHRANE COMMUNITY REVITALIZATION LEVY REGULATION
Table of Contents
                1       Definitions
                2       Scope of Regulation
                3       Establishment of community revitalization levy area
                4       Community revitalization plan
                5       Community revitalization levy bylaw
                6       Borrowing bylaw
                7       Preparation of assessments
                8       Community revitalization assessment roll
                9       Community revitalization levy roll
              10       Community revitalization levy rate bylaw
              11       Calculating amount of levy
              12       Separate fund required
              13       Application of Parts 9 to 12 of Act
              14       Termination of a community revitalization levy bylaw
              15       Expiry
Schedule  
Definitions
1   In this Regulation,
                                 (a)    “Act” means the Municipal Government Act;
                                 (b)    “assessment baseline” means the property assessment of each property within the Cochrane Community Revitalization Levy as of December 31, 2012;
                                 (c)    “community revitalization levy bylaw” means a bylaw passed by the council to impose a levy in respect of the incremental assessed value of property in the Cochrane Community Revitalization Levy;
                                 (d)    “community revitalization levy rate” means the rate imposed under a community revitalization levy bylaw for the applicable assessment class or sub‑class of property;
                                 (e)    “council” means the council of the Town of Cochrane;
                                 (f)    “incremental assessed value” has the meaning given to it in section 381.1(a) of the Act;
                                 (g)    “property” has the meaning given to it in section 284(1)(r) of the Act;
                                 (h)    “Cochrane Community Revitalization Levy” means the Town of Cochrane community revitalization levy area established pursuant to section 3.
Scope of Regulation
2(1)  This Regulation applies only to property located in the Cochrane Community Revitalization Levy.
(2)  Sections 6 to 14 apply only if
                                 (a)    the council passes a community revitalization levy bylaw in respect of the Cochrane Community Revitalization Levy, and
                                 (b)    the Lieutenant Governor in Council approves the community revitalization levy bylaw.
Establishment of community revitalization levy area
3   This Regulation establishes a community revitalization levy area in the Town of Cochrane, known as the Cochrane Community Revitalization Levy, on the lands described in the Schedule.
Community revitalization plan
4(1)  Before passing a community revitalization levy bylaw in respect of the Cochrane Community Revitalization Levy the council must
                                 (a)    prepare a community revitalization plan for the Cochrane Community Revitalization Levy,
                                 (b)    hold one or more public hearings on the proposed community revitalization plan in accordance with section 606 of the Act, and
                                 (c)    make and keep a record of any public hearings, and make the results of those public hearings available to the public.
(2)  A community revitalization plan must address
                                 (a)    the objectives, risks and benefits associated with the plan,
                                 (b)    the need for the plan, including substantiation that redevelopment will not progress significantly in its absence,
                                 (c)    the costs associated with the plan, including the amount and timing of projected
                                           (i)    redevelopment capital costs,
                                          (ii)    borrowing costs, and
                                         (iii)    other costs,
                                 (d)    the revenues associated with the plan, including the amount and timing of projected
                                           (i)    community revitalization levies in respect of the incremental assessed value of property in the Cochrane Community Revitalization Levy,
                                          (ii)    general municipal revenues, and
                                         (iii)    other revenue sources,
                                 (e)    the amount, timing and source of projected borrowings associated with the plan, and the amount and timing of the repayments,
                                 (f)    a low, medium and high projection of estimated changes in the incremental assessed value of property in the Cochrane Community Revitalization Levy, and the consequent impact on projected revenues from community revitalization levies,
                                 (g)    how the municipality will fund any shortfall, in the event that actual revenues associated with the plan are not sufficient to provide for the actual costs and repayment of borrowings associated with the plan,
                                 (h)    the proposed land uses for the Cochrane Community Revitalization Levy,
                                  (i)    the proposed phasing of development in the Cochrane Community Revitalization Levy,
                                  (j)    the impact, if any, that the redevelopment of the Cochrane Community Revitalization Levy will have on the residents of that area,
                                 (k)    which features, facilities and characteristics of the municipality will be adversely affected by the redevelopment of the Cochrane Community Revitalization Levy and what is proposed to mitigate those effects,
                                  (l)    which historically significant buildings in the Cochrane Community Revitalization Levy will be conserved and maintained and how they will be conserved and maintained, and
                               (m)    the expected role of private sector developers in the redevelopment of the Cochrane Community Revitalization Levy.
(3)  A community revitalization plan must be consistent with the land use policies established by the Lieutenant Governor in Council under section 622 of the Act.
Community revitalization levy bylaw
5(1)  A community revitalization levy bylaw must include all of the information required to be included in the community revitalization plan.
(2)  A community revitalization levy bylaw may be amended by the council, but any amendments made have no effect unless they are approved by the Lieutenant Governor in Council.
Borrowing bylaw
6   Despite sections 256 to 263 of the Act, a borrowing bylaw for the purpose of implementing the community revitalization plan, in whole or in part, must be advertised in accordance with section 606 of the Act.
Preparation of assessments
7   Assessments of property in the Cochrane Community Revitalization Levy must be prepared in the same manner as similar properties in the municipality in accordance with Part 9 of the Act, as modified by this Regulation.
Community revitalization assessment roll
8(1)  The municipality must prepare annually, not later than February 28, a community revitalization assessment roll.
(2)  A community revitalization assessment roll may be a continuation of the assessment roll prepared under Part 9 of the Act or may be separate from that roll.
Community revitalization levy roll
9(1)  The municipality must prepare a community revitalization levy roll annually.
(2)  A community revitalization levy roll may be a continuation of the tax roll prepared under Part 10 of the Act or may be separate from that roll.
(3)  A community revitalization levy roll must show the same information that is required to be shown on the tax roll in accordance with section 329 of the Act.
Community revitalization levy rate bylaw
10(1)  The council must pass a community revitalization levy rate bylaw annually.
(2)  A community revitalization levy rate bylaw must
                                 (a)    set and show separately all of the community revitalization levy rates that must be imposed to raise the revenue required to meet the levy increment financing program and council’s approved budget, and
                                 (b)    not be imposed in respect of property that
                                           (i)    is exempt under section 351, 361 or 362 of the Act,
                                          (ii)    is exempt under section 363 of the Act, unless the bylaw passed under section 363 makes the property taxable, or
                                         (iii)    is made exempt from taxation by the bylaw passed under section 364 of the Act.
(3)  A community revitalization levy rate must be equal to or greater than the tax rates established annually for the corresponding property tax bylaw for each assessment class or sub‑class of property referred to in section 297 of the Act.
(4)  A community revitalization levy rate bylaw may set out the class and subclass tax rates for the municipal property tax, the tax rates for any requisitions under Part 10 of the Act and the community revitalization levy rate.
Calculating amount of levy
11(1)  The amount of the levy to be imposed in respect of property located in the Cochrane Community Revitalization Levy is to be calculated by multiplying the incremental assessed value of the property by the community revitalization levy rate to be imposed on that property.
(2)  If a tax‑exempt property in the Cochrane Community Revitalization Levy becomes taxable or partially taxable, the community revitalization levy for that property is to be calculated on a prorated basis by applying the community revitalization levy rate to the incremental assessed value of the taxable portion of the property.
(3)  The community revitalization levy under subsection (2) is to be applied beginning in the year that the property becomes taxable or partially taxable.
(4)  If a tax‑exempt property in the Cochrane Community Revitalization Levy becomes taxable or partially taxable, the assessment baseline for that property shall be excluded from the equalized assessment beginning in the year that the property becomes taxable or partially taxable.
(5)  If taxable property in the Cochrane Community Revitalization Levy becomes tax exempt, no community revitalization levy is to be applied to that property beginning in the year that the property becomes exempt.
(6)  If, after the community revitalization area has been established, there is
                                 (a)    a subdivision affecting the property within the Cochrane Community Revitalization Levy, or
                                 (b)    a consolidation of 2 or more properties within the Cochrane Community Revitalization Levy,
in respect of which a community revitalization levy is payable, the municipality must reallocate the assessment baseline to each of the new properties in the year that the subdivision or consolidation occurs.
(7)  If, after the community revitalization area has been established, there are changes to the assessment class or assessment sub‑class for a property, the municipality may revise the assessment class or sub‑class applicable to the property assessment baseline to reflect those changes with respect to future years.
Separate fund required
12   A community revitalization levy collected from the Cochrane Community Revitalization Levy, and any interest earned from the investment of that levy,
                                 (a)    must
                                           (i)    be accounted for separately from other levies collected, and
                                          (ii)    be used only for the purposes specified in the community revitalization plan for the Cochrane Community Revitalization Levy;
                                 (b)    may not be used to pay for any project or improvement that is completed before the community revitalization levy bylaw is approved by the Lieutenant Governor in Council.
Application of Parts 9 to 12 of Act
13   Except as modified by this Regulation, Parts 9 to 12 of the Act relating to the assessment and taxation of property apply with the necessary modifications to a community revitalization levy, and, for that purpose, a reference in those Parts to
                                 (a)    a tax imposed under Part 10, Division 2 is deemed to be a reference to a community revitalization levy,
                                 (b)    a property tax bylaw is deemed to be a reference to a community revitalization levy bylaw,
                                 (c)    an assessment roll is deemed to be a reference to a community revitalization assessment roll, and
                                 (d)    a tax roll is deemed to be a reference to a community revitalization levy roll.
Termination of a community revitalization levy bylaw
14   The community revitalization levy bylaw is terminated on the earliest of the following:
                                 (a)    at the end of a period of 20 years from the year in which the community revitalization levy bylaw is approved by the Lieutenant Governor in Council;
                                 (b)    the date that all borrowings for the Cochrane Community Revitalization Levy are repaid or recovered from the revenues associated with the community revitalization plan;
                                 (c)    an earlier date specified by the Lieutenant Governor in Council.
Expiry
15   For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on December 31, 2022.
Schedule   
All lands in the Town of Cochrane contained in the area shown on the following map and which may be described, approximately, as follows:
Legal Description for Cochrane Community Revitalization Plan Area Boundary
All of the lands in the Town of Cochrane contained within the Plan area may be described as follows:  
All the lands contained within the area commencing at the northeast corner of the lands legally described as Block 12, Plan 771 1319; thence southerly along the east boundary of said Block 12 to the southeastern corner of said Block 12; thence easterly along the north boundary of the road shown on Plan 1325JK (municipally known as Railway Street) to the point of intersection with the northwest corner of Road Plan 941 0377; thence easterly along the north boundary of Road Plan 941 0377 to the point of intersection with the northern limit of the road shown on Plan 771 1319; thence southeasterly to the northwest corner of Condominium Plan 811 1822; thence southerly along the east boundary of the road municipally known as Charlesworth Avenue as shown on Plan 3761X and Plan 425HW to the point of intersection with the south boundary of the Original Road Allowance (municipally known as Griffin Road); thence westerly along said Original Road Allowance to the point of intersection with the east limit of Road Plan 031 0094; thence westerly along the south boundary of Road Plan 031 0094 to its western limit; thence westerly along the south boundary of the Original Road Allowance to a point of intersection of the south boundary of the Original Road Allowance with the west boundary of the road municipally known as Grande Boulevard South as shown on Plan 071 6154 produced south; thence northerly along said production of the west boundary of the road municipally known as Grande Boulevard South as shown on Plan 071 6154 to the point of intersection of the west boundary of said road produced north with the west boundary of the road municipally known as Grande Boulevard South as shown on Plan 981 2656 produced southwest; thence northeasterly along the production of the west boundary of Grand Boulevard South as shown on Plan 981 2656 to the southeast corner of Lot 12, Block 2, Plan 001 1685; thence westerly along the south boundary of Block 2, Plan 001 1685 to the southwest corner of Lot 7, Block 2, Plan 001 1685; thence northerly along the full west boundary of Plan 001 1685 to the northwest corner of Lot 9, Block 2, Plan 001 1685; thence northeasterly across the road municipally known as Railway Street as shown on Plan 1325JK to the southwest corner of Block 12, Plan 771 1319; thence northerly along the west boundary of said Block 12 to the northwest corner thereof; thence northerly across the Canadian Pacific Railway Plan RY10 to the southwest corner of Lot 1, Block 3, Plan 851 1119; thence northerly along the west boundary of said Lot 1 to the point of intersection of the west boundary of said Lot 1 produced north to the north boundary of First Street West as shown on Plan 2395H; thence easterly along the north boundary of First Street West to the point of intersection of the north boundary of said road with the east boundary of Lot 1, Block 3, Plan 851 1119 produced north; thence southerly along the production of the east boundary of Lot 1, Block 3, Plan 851 1119 to the point of intersection with the north boundary of Block 12, Plan 771 1319; thence easterly along the north boundary of said Block 12 to the point of commencement.
Excepting Thereout: Lots 1 to 3 inclusive, Block G, Plan 991 2992; Block G, Plan 1325JK; Parcel A, Plan 3282GN; Lots 1 to 3 inclusive, Block H, Plan 1325JK; and Lots 4 to 6 inclusive, Block H, Plan 881 1042.
Map of Community Revitalization Levy Plan Area