PFC2020-1149

That with respect to Report PFC2020-1149, the following Motion Arising be adopted, as follows: That Council: Direct Administration to engage the newly forming Real Estate Working Group to: 1. Identify industrial lands in Calgary that are well-positioned for attracting or relocating investment with an interest in logistics, distribution, agricultural technology, clean energy and other progressive business ideas that will further advance Calgary Economic Development’s New Economy pillars of Talent, Innovation, Place and Business; 2. Explore the use of revised provisions under Bill 7 (“Municipal Government (Property Tax Incentives) Amendment Act, 2019) to identify how ideas like a time-limited assessment cap or modified mill rate could attract investment to Calgary; and 3. Report back to Priorities & Finance Committee no later than Q2 2021 with: a. A geographic illustration of industrial lands in Calgary that are well-positioned for attracting or relocating firms which could aid in forming employment hubs; b. Projections of one-time gains from industrial land sales; and c. Projections of non-residential property tax revenues as the result of actions outlined above.