Ponoka Town Council has renewed the New Business Grant Program for the 2025 year.
The purpose of the program is to attract new businesses to Ponoka.
The New Business Grant offers a one-time-per-business grant payment of up to $1,000 for businesses that are new to Ponoka in 2024 and 2025, and reside and operate in the Town. The grant is also available to existing residents in the Town of Ponoka who start a new business in town.
To be eligible, businesses must hold a valid Town of Ponoka business licence or be exempt from requiring a business licence. The grants are awarded on a first-come, first-served basis.
The Town also offers other residential and business incentive programs in Ponoka that include:
- Residential New Build Incentive;
- Commercial New Build Incentive;
- Major Home Renovation Incentive; and
- New Resident Incentive.
The purpose of these incentive programs is to continue attracting new residents and businesses to move to Ponoka.
Residential New Build Incentive Program:
New and existing residents who build or buy a newly-built home not previously occupied in the Town of Ponoka can qualify for this program. To qualify, applications must be received in the same year in which the development permit is issued. This incentive allows citizens to enjoy the following tax savings over three years:
- 5 per cent reduction on the municipal portion of your property taxes in the first year following the construction of a new home;
- 50 per cent reduction in the second year; and
- 25 per cent reduction in the third year.
Commercial New Build Incentive Program:
Commercial businesses that build a new property in the Town of Ponoka on commercially-zoned land can qualify for this program. To qualify, applications must be received in the same year in which the development permit is issued. This incentive allows businesses to enjoy the following tax savings over three years:
- 75 per cent reduction in the municipal portion of their property taxes in the first year;
- 50 per cent reduction in the second year; and
- 25 per cent reduction in the third year.
Major Home Renovation Incentive Program:
Ponoka residents who complete major renovations on their home which increase their property’s assessment value by at least 20 per cent (excluding land assessment value) can qualify for the following property tax savings:
- 75 per cent reduction on the assessment increase in the municipal portion of their property taxes in the first year following completion of the major home renovations;
- 50 per cent reduction on the increase in the second year; and
- 25 per cent reduction on the increase in the third year.
Examples of major renovations that may qualify for the program include finishing a basement, building an attached or detached garage, building an addition to increase square footage of a home, major kitchen renovations or complete renovation of a main living area. Applications must be received by December 31 of the same year in which the major home renovation work begins.
New Resident Incentive Program:
This program offers a free, one-year family recreation pass for new residents who buy and move into a home in town before December 31, 2025 from a municipality outside the Town of Ponoka. The family recreation pass offers free admission to the Ponoka Aquaplex, which features a 25-metre indoor swimming pool, wading pool, deep tank with a 10-foot corkscrew slide, hot tub and sauna. The pass also includes free access to water fitness classes at the Aquaplex, as well as to racquetball courts, drop-in programming and public skating/shinny hockey at the Ponoka Arena Complex.
Applications must be submitted in the same year as the applicant’s possession date of their new property.
For more information and to apply for any of these incentive programs, visit the Town of Ponoka website at ponoka.ca/p/residential-and-business-incentive-programs or call 403-783-0127 or send an email to RealLiving@Ponoka.ca.
Paper copies of the application forms are also available at the Town Office on the second floor of the Ponoka Civic Centre (5604 50 Street).
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