A member of the business community in Kamloops says a bill from MLA Todd Stone could impact some businesses in the Tournament Capital.

Joshua Knaak with Arpa Investments was commenting on Stone’s bill which would enable local governments to reduce taxes on unused airspace, at their discretion, above properties owned by small businesses and non-profits.

He says it’s a big issue in the Lower Mainland but says it does affect businesses in Kamloops as well.

“A great example of that is the library at Library Square, because that’s exactly what happened. I believe it’s the city that owns the library space, but the city sold the air space above the library off to a developer who then did 150 units of condos. Obviously the building below has to be ready to put five storeys of condos on top of it,” Knaak says.

“And lease rates are a bit of a challenge right now in Kamloops, and attracting new business. But Kamloops is growing, and the more space we have, the more competitive that market, the more business we can bring here, the more jobs we can bring here and the more services and amenities we’ll have for our population.”

Knaak says KamPlan has identified downtown, the TRU precinct and the Tranquille Corridor for densification, and says potentially reducing property taxes for some would give more flexibility.

(Photo: Total Concepts Developments)