THE CORPORATION OF DELTA. "Delta OLe Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program Bylaw No.

Transcription

1 THE CORPORATION OF DELTA "Delta OLe Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program Bylaw No. 6985, 2011"

2 THE CORPORATION OF DELTA "Delta DLC Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program Bylaw No.6985, 2011 " Table of Contents SECTION 1 - TITLE... 4 SECTION 2 - DEFINITIONS... 4 SECTION 3 - ESTABLISHMENT OF ECONOMIC INVESTMENT ZONES AN D TAX EXEMPTION PROGRAM... 6 SECTION 4 - TAX EXEMPTION SECTION 5 - PROJECT QUALIFiCATIONS... 7 SECTION 6 - TAX EXEMPTION CERTIFiCATES... 7 SECTION 7 - APPLICATION REQUIREMENTS... 8 SECTION 8 - CANCELLATION... ~... 9 SECTION 9 - EXEMPTION AGREEMENT SECTION 10 - AUTHORITY OF COUNCIL SCHEDULE "A" - DLC LANDFILL SITE ECONOMIC INVESTMENT ZONE SCHEDULE "B" - REVITALIZATION TAX EXEMPTION AGREEMENT SCHEDULE "c" - ECONOMIC INVESTMENT ZONE TAX EXEMPTION CERTIFICATE

3 THE CORPORATION OF DELTA BYLAW NO A Bylaw to establish a DLC Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program WHEREAS a Municipal Council may, pursuant to Section 226 of the Community Charter, establish a revitalization tax exemption program by bylaw; AND WHEREAS certain areas of the Municipality require economic revitalization; AND WHEREAS Council recognizes the importance of accelerating new business and industrial investment, construction, brownfield revitalization and permanent new employment; AND WHEREAS Council wishes to establish a revitalization tax exemption program for closed demolition, land-clearing and construction waste landfill sites the purpose of accelerating new business and industrial investment, construction, brownfield revitalization and permanent new employment; AND WHEREAS Council has considered the Economic Investment Zone in conjunction with the objectives and policies set out, in the Municipality's five-year financial plan; AND WHEREAS the Community Charter provides that a revitalization tax exemption program bylaw may only be adopted after notice of the proposed bylaw has been given in accordance with Section 227 of the Community Charter, NOW THEREFORE the Council of The Corporation of Delta, in open meeting assembled, ENACTS AS FOLLOWS:

4 SECTION 1 - TITLE This Bylaw may be cited for all purposes as "Delta DLC Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program Bylaw No. 6985, 2011". SECTION 2 - OBJECTIVES The Revitalization Tax Exemption program is intended to promote the closure and redevelopment of DLC landfill sites to achieve environmental and economic benefits. The tax exemption will act as a financial incentive to help offset the costs associated with landfill closure and long-term environmental monitoring, and help promote subsequent commercial or industrial land-uses. SECTION 3 - DEFINITIONS 3.1 For the purposes of this Bylaw: "Agreement" "Application Form" means a revitalization tax exemption agreement between the Owner of a Parcel and the Municipality pursuant to this Bylaw and Section 226(7) of the Community Charter in the form attached to and forming part of this Bylaw. means the application form prescribed by the Director of Finance. "Building Bylaw" means Delta Building/Plumbing Bylaw No. 6060, 2002, as may be amended from time to time. "Building Official" has the same meaning as in the Building Bylaw. "Community Charter" means the Community Charter, S.B.C. 2003, c. 26, as may be amended from time to time. "Construction Value" "Council" means the total value, as determined by the Building Official in accordance with the Building Bylaw, of all construction, environmental remediation or other work related to a Project. means the council of The Corporation of Delta,

5 "DLC Landfill Site" "Director of Community Planning and Development" UDirector of Finance" "Economic Investment Zone" "Effective Date" "Eligible Parcel" "Final Approval" "Improvements" "Land or Lands" "Municipal Property Tax" UMunicipality" "Owner" means an inactive demolition, land-clearing and construction waste landfill permitted by the Be Ministry of Environment pursuant to the BC Environmental Management Act. means the Director of Community Planning and Development for the Municipality, or his or her designate. means the Director of Finance for the Municipality or his or her designate who is the municipal officer for the purpose of Section 226(13) of the Community Charter. means the area designated as the Economic Investment Zone in Schedule "A" attached to and forming part of this Bylaw. means the date of issuance of a Tax Exemption Certificate for a Parcel. A Parcel for which a Tax Exemption Certificate has been issued pursuant to this Bylaw. means the final approval granted by the Building Official for the Project in accordance with the Building Bylaw. means improvements as defined in the Assessment Act, R.S.B.C. 1996, c. 20, as may be amended from time to time. means land or lands as defined in the Community Charter. means only property value taxes Council has imposed pursuant to Section 197(1 )(a) of the Community Charter, and does not include any other taxes. means The Corporation of Delta, or the area within its boundaries, as the context requires. means an owner as defined in the Community Charter and who is also an owner of a Parcel.

6 "Parcel" means any Land: of which fifty-one percent (51 %) or more of the land area is within the Economic Investment Zone and upon which an Owner proposes or constructs a Project; and that is within Class 4, 5 or 6 of the Assessment Act - Prescribed Classes of Property Regulation, B.C. Reg. 438/81. "Project" "Tax Exemption" "Tax Exemption Certificate" means the construction of a new commercial or industrial Improvement on a Parcel or the environmental remediation of a Parcel, with a Construction Value of at least five hundred thousand dollars ($500,000). means a revitalization tax exemption pursuant to a Tax Exemption Certificate; means a revitalization tax exemption certificate issued by the Director of Finance pursuant to this Bylaw and pursuant to the provisions of Section 226(8) of the Community Charier, in the form attached to and forming part of this Bylaw. SECTION 4 - ESTABLISHMENT OF ECONOMIC INVESTMENT ZONES AND TAX EXEMPTION PROGRAM 4.1 There is hereby established a revitalization tax exemption program for the Economic Investment Zone under Section 226 of the Community Charier for the issuance of Tax Exemption Certificates in respect of a Parcel. 4.2 The terms and conditions upon which a Tax Exemption Certificate may be issued are as set out in this Bylaw, the Agreement and the Tax Exemption Certificate. SECTION 5 - TAX EXEMPTION 5.1 The amount of the Tax Exemption for an Eligible Parcel under this Bylaw will be determined as follows: For the first through fifth years of the Tax Exemption inclusive, the amount by which the Municipal Property Tax for that Eligible Parcel exceeds the level of Municipal Property Tax payable in the year before the commencement of the Project (if the Eligible Parcel in that year was statutorily exempt from Municipal Property Tax, then for the purpose of

7 calculation use the Municipal Property Tax that would have been payable but for the statutory exemption) (the "Base Year Property Tax Level"); For the sixth year of the Tax Exemption, 80 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; For the seventh year of the Tax Exemption, 60 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; For the eighth year of the Tax Exemption, 40 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; and For the ninth year of the Tax Exemption, 20 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption. 5.2 A Tax Exemption shall apply to a Parcel only after the following conditions are met: the Owner has satisfied all the provisions of this Bylaw; the Owner has entered into a valid Agreement with the Municipality; the Owner has satisfied all terms and conditions as set out in the Agreement; and a Tax Exemption Certificate has been issued for the Parcel. SECTION 6 - PROJECT QUALIFICATIONS 6.1 In order for a Parcel to be considered by Council for an Agreement, Project construction must commence on or before December 31,2022. SECTION 7 - TAX EXEMPTION CERTIFICATES 7.1 The maximum term of a Tax Exemption pursuant to this Bylaw and the applicable Agreement is nine (9) years. 7.2 After December 31, 2023, no Tax Exemption Certificates will be issued pursuant to this Bylaw.

8 7.3 Prior to the issuance of a Tax Exemption Certificate by the Director of Finance, the Owner must fulfill the requirements, terms and conditions of this Bylaw and the Agreement. 7.4 After all the provisions, terms and conditions in this Bylaw and the Agreement are met, and after Council authorizes the issuance of the Tax Exemption Certificate, the Director of Finance shall issue a Tax Exemption Certificate for the Parcel. 7.5 The Tax Exemption Certificate must, in accordance with the conditions established in this Bylaw and the Agreement set out in Schedule B specify the following: the civic address of the Parcel; the legal description of the Parcel; the date of issuance of the Tax Exemption Certificate; the term of the Tax Exemption; the amount of the Tax Exemption or the formula for determining the exemption; the conditions on which the Tax Exemption is provided; and that a recapture amount is payable if the Tax Exemption Certificate is cancelled and how that amount is to be determined. 7.6 A Tax Exemption Certificate does not apply to taxation in a calendar year unless the Tax Exemption Certificate is issued on or before October 31 in the preceding year. 7.7 A Tax Exemption Certificate is subject to the following conditions: the Project must receive Final Approval on or before December 31, 2021; the Owner must not sell, assign, or otherwise transfer all or a portion of its equitable or legal interest in the Parcel unless the transferee takes an assignment of the Agreement and agrees to be bound by it; and the property taxes in respect of the Parcel must not go into arrears or become delinquent. SECTION 8 - APPLICATION REQUIREMENTS 8.1 An Owner who wishes to apply for a Tax Exemption must submit, to the Municipal Clerk, a completed Application Form in writing.

9 8.2 The following must be submitted with the Application Form to the Municipal Clerk: a certificate that all taxes assessed and rates, charges, and fees imposed on the Parcel have been paid and, where taxes, rates or assessments are payable by instalments, that all instalments owing at the date of application have been paid; a copy of the current property assessment notice for the Parcel as issued by the British Columbia Assessment Authority; a description of the Project; a certificate from the Owner's design professional in a form satisfactory to the Building Official certifying that the total value of all construction, environmental remediation or other work related to the Project will exceed five hundred thousand dollars ($500,000); and an application fee in the amount of one hundred ($100). 8.3 All Application Forms and other information required in Sections 8.1 and 8.2 of this Bylaw must be submitted to the Municipal Clerk on or before June 30, and must be received by the Municipality prior to issuance of the building permit for the Project. SECTION 9 - CANCELLATION 9.1 A Tax Exemption Certificate may be cancelled by Council: on the request of the Owner; or if any of the conditions specified in the Tax Exemption Certificate are not met. 9.2 A Tax Exemption Certificate cancellation does not apply to taxation in a calendar year unless the Tax Exemption Certificate is cancelled on or before October 31 in the preceding year. 9.3 Despite Section 9.2, if for any reason whatsoever the Tax Exemption Certificate is cancelled, the Owner of the Parcel for which the Tax Exemption Certificate was issued will remit to the Municipality an amount equal to the value of the exemption received after the date of the cancellation of the Tax Exemption Certificate. 9.4 Despite Sections 9.2 and 9.3, if the Project does not receive Final Approval on or before December 31, 2021, the Owner of the Parcel will remit to the Municipality an amount equal to the total value of the Tax Exemption received under the Tax Exemption Certificate.

10 9.5 The Director of Finance shall notify the Owner as soon as practicable after a Tax Exemption Certificate is cancelled. SECTION 10 - EXEMPTION AGREEMENT 10.1 Council shall not enter into an Agreement with an Owner unless all requirements of the Application Form and Sections 8.1 to 8.3 of this Bylaw are met An Agreement may include any additional terms and conditions deemed necessary by the Director of Finance, in his or her sole discretion, acting reasonably. SECTION 11 - AUTHORITY OF COUNCIL 11.1 Council may consider entering into an Agreement with an Owner after the Owner has met the requirements of the Application Form and of Sections 8.1 to 8.3. READ A FIRST TIME on the READ A SECOND TIME on the READ A THIRD TIME on the 3 rd day of 3 rd day of 3 rd day of October, October, October, NOTICE OF INTENTION ADVERTISED on the 18 th and 25 th day of October, 2011, in the Surrey North Delta Leader and on the 19 th and 26 th day of October, 2011, in the Delta Optimist Newspapers. RECONSIDERED AND FINALLY ADOPTED, signed by the Mayor and Clerk, and sealed with the Corporate Seal on the 7th day of November, s E. Jackson Mayor

11 SCHEDULE "A" DLC LANDFILL SITE ECONOMIC INVESTMENT ZONE i.\ W~t , Praser D -il/ver I i o 300 m Burns Bog L- ~ D Former Demolition, Land-Clearing and Construction Waste Landfill Sites (DLC Landfill Sites) ::~~ l.:.~'(i>i (\f.... np.nenn.tfju$'~... "'./)I("'.ef ~c.w tilcl...:~j.iscli~~... I'I~1'D\.C 5.1ft.S<ip l\;ri11aw; ~OIII"'Ol"'"...,,..

12 SCHEDULE '8' REVITALIZATION TAX EXEMPTION AGREEMENT THIS AGREEMENT dated the day of, 20_. BETWEEN [Insert name and address of owner of land in respect of which the revitalization exemption will apply] (the "Owner") AND THE CORPORATION OF DELTA 4500 Clarence Taylor Crescent Delta, British Columbia V4K 3E2 (the "Municipality") WHEREAS: A. The Owner is the registered owner in fee simple of Land in the Municipality of Delta at [civic address] legally described as [legal description]; B. The Council for the Municipality has established an economic revitalization tax exemption program for the purpose of encouraging revitalization of former demolition, land-clearing and construction waste landfill sites and has included within the "Delta DLC Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program Bylaw No.6985, 2011" a designation of areas, which include the Land, as an Economic Investment Zone; and C. The Owner proposes to [choose one: construct new improvements or conduct environmental remediation] on the Land and has applied to the Municipality to take part in the revitalization tax exemption program in respect of the Project and the Municipality has agreed to accept the Project under the program; THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements contained in this Agreement and the payment by the Owner to the Municipality of consideration in the amount of $ (One Hundred Dollars), the receipt and sufficiency of which are acknowledged by the Municipality, the Municipality and Owner covenant and agree with each other as follows:

13 DEFINITIONS 1. In this Agreement the following words have the following meanings: "Agreement means this Agreement; "Construction Value" means the total value, as determined by the Building Official in accordance with the Building Bylaw, of all construction, environmental remediation or other work related to a Project; "Building Bylaw" means Delta Building/Plumbing Bylaw No. 6060, 2002, as may be amended from time to time; "Bylaw" means the "Delta DLC Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program Bylaw No.6985, 2011 ", as amended; "Final Approvaf' means the final approval granted by the Building Official in accordance with the Building Bylaw; "Land or Lands" means the land or lands legally described in recital A of this Agreement and any part into which the land or lands are subdivided; "Municipal Property Tax" means only property value taxes Delta Municipal Council has imposed pursuant to Section 197(1 )(a) of the Community Charter, S.B.C. 2003, c. 23, and does not include any other taxes; "Owner' means any person who is a registered owner in fee simple of the Lands; "Project means construction on or to the Lands for which the Municipality has issued Building Permit No., on, 20_[or environmental remediation of the Lands pursuant to a Closure Plan authorized by the BC Ministry of Environment]; "Tax Exemption" means a revitalization tax exemption pursuant to a Tax Exemption Certificate; and "Tax Exemption Certificate" means a revitalization tax exemption certificate issued by the Municipality's Director of Finance pursuant to the Bylaw and pursuant to the provisions of Section 226(8) of the Community Charter, in the form prescribed by the Bylaw. REVITALIZATION TAX EXEMPTION 2. Subject to fulfilment of the conditions set out in this Agreement and in the Bylaw, the Municipality shall issue a Tax Exemption Certificate entitling the Owner to a Tax Exemption in respect of Municipal Property Tax for the calendar year(s) set out in this Agreement. The Tax Exemption Certificate shall be in the form prescribed by the Bylaw.

14 TERM 3. Provided the requirements of this Agreement and of the Bylaw are met, the Tax Exemption shall be for the taxation years to, inclusive. 4. Throughout the term of this Agreement, the Owner shall operate, repair and maintain the Lands and Project and will keep the Lands and Project in a state of good repair as a prudent owner would. CONDITIONS 5. The following conditions must be fulfilled before the Municipality will issue a Tax Exemption Certificate to the Owner in respec~ of the Lands: (a) The Owner must commence construction of the Project on or before December 31,.; and (b) The Project must have a Construction Value in excess of. dollars ($+). 6.. A Tax Exemption Certificate is subject to the following conditions: (a) (b) the Owner must complete or cause to be completed construction of the Project in a good and workmanlike fashion and in strict compliance with the building permit and the plans and specifications attached to and forming part of this Agreement as Appendix "------" and the Project must be officially opened for use as [describe permitted use] and for no other purpose; the completed Project must substantially satisfy the performance criteria set out in Appendix "------" attached to and forming part of this Agreement, as determined by the Municipality's Director of Community Planning & Development in his or her sole discretion, acting reasonably; (c) the Project must receive Final Approval on or before December 31, 20--; (d) (e) the Owner must not sell, assign, or otherwise transfer all or a portion of its equitable or legal interest in the Lands unless the transferee takes an assignment of this Agreement and agrees to be bound by it; and the property taxes in respect of the Lands must not go into arrears or become delinquent. 7. The Owner shall construct the Project and, at all times during the term of the Tax Exemption, use and occupy the Land and the Project in compliance with ali statutes, law, regulations and orders of any authority having jurisdiction, and without limiting the generality of the foregoing, all federal, provincial, or municipal laws, statutes, bylaws licences, permits or approvals, including all the rules,

15 regulations, policies, guidelines, criteria or the like made under or pursuant to any such laws. 8. The Owner must pay to the Municipality in relation to the Project the cost of all tie-ins of works and services associated with the alteration to improvements, to existing storm and sanitary sewers, water mains, water meters, driveways and other municipal services. 9. For greater certainty, under no circumstances will the Owner be entitled under this Agreement or the Bylaw to any cash credits, any carry forward tax exemption credit or any return for any taxes paid or Municipal Property Tax paid. TAX EXEMPTION 10. The amount of the Tax Exemption will be determined as follows: (a) (b) (c) For the first through fifth years of the Tax Exemption (201_ to 201_) inclusive, the amount by which the Municipal Property Tax for that Eligible Parcel exceeds the level of Municipal Property Tax payable in the year before the commencement of the Project (if the Eligible Parcel in that year was statutorily exempt from Municipal Property Tax, then for the purpose of calculation use the Municipal Property Tax that would have been payable but for the statutory exemption) (the "Base Year Property Tax Level"); For the sixth year of the Tax Exemption (201_), 80 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; For the seventh year of the Tax Exemption (201_), 60 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; (d) For the eighth year of the Tax Exemption (201~, 40 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; and (e) For the ninth year of the Tax Exemption (20_), 20 percent of the difference between the Base Year Municipal Tax Level for that Eligibie Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption.

16 CANCELLATION 11. The Council for the Municipality may in its sole discretion cancel the Tax Exemption Certificate at any time: (a) (b) on the written request of the Owner; or effective immediately if at any time any of the conditions in the Tax Exemption Certificate are not met. 12. A Tax Exemption Certificate cancellation does not apply to taxation in a calendar year unless the Tax Exemption Certificate is issued or cancelled, as applicable, on or before October 31 in the preceding year. 13. Despite Section 12, if for any reason whatsoever the Tax Exemption Certificate is cancelled, the Owner of the Lands for which the Tax Exemption Certificate was issued will remit to the Municipality an amount equal to the value of the Tax Exemption received after the date of the cancellation of the Tax Exemption Certificate. 14. Despite Sections 12 and 13, if the Project does not receive Final Approval on or before December 31,., the Owner of the Lands will remit to the Municipality an amount equal to the total value of the Tax Exemption received under the Tax Exemption Certificate.. MUNICIPALITY'S RIGHTS AND POWERS 15. Nothing contained or implied in this Agreement prejudices or affects the Municipality's rights and powers in the exercise of its functions or its rights and powers under any public and private statutes, bylaws, orders, or regulations to the extent the same are applicable to the Lands, all of which may be fully and effectively exercised in relation to the Lands as if this Agreement had not been executed and delivered by the Owner. GENERAL PROVISIONS 16. It is mutually understood, agreed, and declared by and between the parties that the Municipality has made no representations, covenants, warranties, guarantees, promises, or agreements (oral or otherwise), express or implied, with the Owner other than those expressly contained in this Agreement. 17. This Agreement shall enure to the benefit of and is binding on the parties and their respective heirs, executors, administrators, successors and assigns. 18. The Owner shall, on the request of the Municipality, execute and deliver or cause to be executed and delivered, all such further transfers, agreements, documents,

17 instruments, easements, statutory rights of way, deeds and assurances, and do and perform or cause to be done and performed, all such acts and things as may be, in the opinion of the Municipality necessary to give full effect to the intent of this Agreement. 19. Time is of the essence of this Agreement. 20. This Agreement constitutes the entire agreement between the Owner and the Municipality with regard to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written of the Municipality with the Owner. 21. Any notice or other communication required or contemplated to be given or made by any provision of this Agreement shall be given or made in writing and either delivered personally (and if so, shall be deemed to be received when delivered) or mailed by prepaid registered mail in any Canada Post office (and if so, shall be deemed to be delivered on the fifth business day following such mailing except that, in the event of interruption of mail service notice shall be deemed to be delivered only when actually received by the party to whom it is addressed), so long as the notice is addressed as follows: to the Owner at: +[insert name] +[insert address] and: to the Municipality at: THE CORPORATION OF DELTA 4500 Clarence Taylor Crescent Delta, British Columbia V4K 3E2 Attention: Municipal Clerk or to such other address to which a party hereto from time to time notifies the other parties in writing. 22. No amendment or waiver of any portion of this Agreement shall be valid unless in writing and executed by the parties to this Agreement. 23. Waiver of any default by a party shall not be deemed to be a waiver of any subsequent default by that party. 24. This Agreement is not intended to create a partnership, joint venture, or agency between the Owner and the Municipality. 25. This Agreement shall be construed according to the laws of the Province of British Columbia.

18 26. A reference in this Agreement to the Municipality or the Owner includes their permitted assigns, heirs, successors, officers, employees, and agents. 27. This Agreement is effective from and after the reference date in this Agreement, but only if this Agreement has been executed and delivered by the Owner and executed by the Municipality. 28. Unless otherwise expressly provided in this Agreement, whenever the Municipality is permitted to make or give any decision, direction, determination, or consent, the Municipality may act in its sole discretion, but will act reasonably. 29. Unless otherwise expressly provided in this Agreement, the expense of performing the obligations and covenants of the Owner contained in this Agreement, and of all matters incidental to this Agreement, is solely that of the Owner. 30. The Owner represents and warrants to the Municipality that: (a) (b) (c) (d) all necessary corporate actions and proceedings have been taken by the Owner to authorize its entry into and performance of this Agreement; upon execution and delivery on behalf of the Owner, this Agreement constitutes a valid and binding contractual obligation of the Owner; neither the execution and delivery, nor the performance of this Agreement shall breach any other agreement or obligation, or cause the Owner to be in default of any other agreement or obligation, respecting the Lands; and the Owner has the corporate capacity and authority to enter into and perform this Agreement. 31. If any portion of this Agreement is held invalid by a court of competent jurisdiction, the invalid portion shall be severed and the decision that is invalid shall not affect the validity of the remainder of the Agreement. 32. If there is any conflict between the terms and conditions of this Agreement and the provisions of the Bylaw, the Bylaw shall take precedence to the extent of the conflict. 33. Wherever the singular or masculine is used in this Agreement, the same shall be construed as meaning the plural, the feminine or body corporate where the context or the parties thereto require.

19 IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written. Executed by THE CORPORATION OF DELTA by its authorized signatories: Mayor Clerk Executed by by its authorized signatories: Name: Name:

20 [Type text] SCHEDULE "C" THE CORPORATION OF DELTA DLC LANDFILL SITE ECONOMIC INVESTMENT ZONE TAX EXEMPTION CERTIFICATE Date of Issuance:, 20_ Date of Expiry: December 31, 20_ P.I.D. Folio #: Address: (the "Parcel") Amount The amount of the Tax Exemption will be determined as follows: (a) (b) (c) For the first through fifth years of the Tax Exemption inclusive, the amount by which the Municipal Property Tax for that Eligible ' Parcel exceeds the level of Municipal Property Tax payable in the year before the commencement of the Project (if the Eligible Parcel in that year was statutorily exempt from Municipal Property Tax, then for the purpose of calculation use the Municipal Property Tax that would have been payable but for the statutory exemption) (the "Base Year Property Tax Level"); For the sixth year of the Tax Exemption, 80 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; For the seventh year of the Tax Exemption, 60 percent of the difference between the Base Year Municipal Tax Leve! for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption;

21 (d) (e) For the eighth year of the Tax Exemption, 40 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption; and For the ninth year of the Tax Exemption, 20 percent of the difference between the Base Year Municipal Tax Level for that Eligible Parcel and the amount of the Municipal Property tax that would be payable for that Eligible Parcel in that year if there were no exemption. Term This Tax Exemption Certificate shall be in effect for nine (9) years from the date of issuance. Conditions This Tax Exemption Certificate is issued on the following conditions: (a) (b) (c) (d) (e) the Project must receive Final Approval on or before December 31, +; the Owner must not sell, assign, or otherwise transfer all or a portion of its equitable or legal interest in the Parcel unless the transferee takes an assignment of this Agreement and agrees to be bound by it; the property taxes in respect of the Parcel must not go into arrears or become delinquent; the Parcel is not put to any use that is not permitted in the [insert zoning] zone and all requirements, terms and conditions of the Bylaw, the Agreement and this Tax Exemption Certificate have been met by the Owner.

22 If any of these conditions are not met then the Council of the Municipality may cancel this Revitalization Tax Exemption Certificate. Cancellation A cancellation of this Tax Exemption Certificate does not apply to taxation in a calendar year unless it is cancelled on or before October 31 in the preceding year. If the terms and conditions of this Tax Exemption Certificate are not met, the Municipality may cancel the Tax Exemption Certificate and the Owner will remit to the Municipality an amount equal to the value of the Tax Exemption received after the date of cancellation of this Tax Exemption Certificate. However, if the Project on the Parcel does not receive Final Approval on or before December 31,., the Owner of the Parcel will rem it to the Municipality an amount equal to the total value of the Tax Exemption received under the Tax Exemption Certificate. Definitions All words and phrases in this Tax Exemption Certificate shall have the same meaning as in Delta DLC Landfill Site Economic Investment Zone and Revitalization Tax Exemption Program Bylaw No. 6985, 2011 (the "Bylaw"). Issued By: Director of Finance The Corporation of Delta