Cold Lake, AB – Three secondary suites have been approved under the new Secondary Suite Development Incentive Program.

“We developed the program in hopes of seeing some additional rental spaces as our community continues to grow,” said Mayor Craig Copeland. “We are expecting another population burst in the coming years, and we want our housing market to be ready to accommodate both current and new residents.”

The incentive program was launched in May this year. To qualify for the program, the suite must be in an appropriately zoned residential district; must have approved development and building permits; comply with all relevant bylaws, building codes and legislation; the property must not be in tax arrears, and the project must be completed within 12 months.

“Although we only received three applications so far, we are hoping there may still be a few to come,” said Copeland.

The program is capped $100,000, providing for 20 units to be established under the program. The program will run for one year, or until the cap has been reached.  

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