A tax exemption program for the Campbell River Airport meant to spur development appears to be paying off.
City council agreed to a five year deal with a Delaware-based company to forego taxes on two hangers it built on Airport Drive.
Blue Sky BC LLC will still have to pay taxes on the land (about $4,000 to $5,000 a year), school taxes and another ancillary fees.
Coun. Susan Sinnott says the tax exemption idea was floated 12 years ago when the airport commission started. The airport lands revitalization tax exemption program was only signed into law in June 2021 by the Andy Adams administration.
“I’m glad to see finally that the land which is our greatest asset at the airport is finally taking up in the market. I’m very proud of staff for this,” she said.
Coun. Sean Smyth says this is another step to getting the airport economically viable.
“I’m so pleased to see another tenant coming to the airport and showing faith in our airport. This is a tenant that could’ve chosen anywhere in North America and they chose Campbell River. I’m very happy with that,” Smyth said.
Mayor Kermit Dahl added it’s a “big step” toward turning the airport into a “cash positive” venture.
The city will forego about $102,000 in taxes over the next five years.
Once the agreement is over, about $22,000 a year will come in from the $2 million hangers on top of the land taxes.
