City of Lac-Mégantic

Tax Incentive Program for Industrial Development

The City of Lac-Mégantic provides a general property tax rebate on the increase in property value, resulting from a re-assessment of industrial buildings after one of the following cases:

  • The construction of an industrial manufacturing building
  • The expansion of an industrial manufacturing building

The tax credit is paid out through the following:

  • 100% of property taxes in year 1 on the added value of the assessment roll;
  • 75% of property taxes in year 2 on the added value of the assessment roll;
  • 50% of property taxes in year 3 on the added value of the assessment roll.

The value added to the assessment roll must be a minimum of $500,000 in the case a new construction or $200,000 in the case of renovations or modifications to an existing building. A limited budget is allocated for this tax incentive program.


Tax Incentive Program for the Tourism Sector

In order to promote the tourism sector, the city of Lac-Mégantic provides a tax rebate on the property tax increase for tourism infrastructures requiring new investment of a minimum of $100,000.

The tax credit is paid out through the following:

  • 100% of property taxes in year 1 on the added value of the assessment roll;
  • 100% of property taxes in year 2 on the added value of the assessment roll.

Qualifying Tourism Infrastructures:

  • Youth hostel
  • Aquarium
  • Summer camp
  • Camping and RV site
  • Musical summer camp
  • Art center
  • Arts and craft center
  • Interpretation center
  • Equestrian center
  • Convention hall
  • Sugar shack (open to tourists)
  • Air tube sliding
  • Water and snow sliding
  • Golf and mini-golf
  • Museum
  • Commercial pool
  • Historic site
  • Straw-hat theater
  • Zoo

Tax Incentive Program dedicated to the area covered by the Specific Urban Renewal Plan (Programme particulier d’urbanisme – PPU)

Following the events of July 6th 2013 and the adoption a Specific Urban Renewal Plan (PPU), the city of Lac-Mégantic also provides a tax rebate for the construction or renovation of buildings within the area designated in the PPU. This program applies to buildings with commercial use, mixed (commercial and residential), medium to high-density residential development (two units or more), with value on the assessment roll of $300,000 or more.

The tax credit is paid out through the following:

  • 100% of property taxes in year 1 on the added value of the assessment roll
  • 80% of property taxes in year 2 on the added value of the assessment roll
  • 80% of property taxes in year 3 on the added value of the assessment roll
  • 70% of property taxes in year 4 on the added value of the assessment roll
  • 70% of property taxes in year 5 on the added value of the assessment roll

Tax Incentive Program for Residential Construction

The tax credit program for new residential constructions in the city of Lac-Mégantic provides different rates according to the types of constructions:

Single-Family Home

The tax credit is paid out through the following:

  • 100% of property taxes in year 1 on the added value of the assessment roll
  • 100% of property taxes in year 2 on the added value of the assessment roll
  • 100% of property taxes in year 3 on the added value of the assessment roll
  • 50% of property taxes in year 4 on the added value of the assessment roll
  • 50% of property taxes in year 5 on the added value of the assessment roll

Rental Dwellings (two units or more)

The tax credit is paid out through the following:

  • 75% of property taxes in year 1 on the added value of the assessment roll
  • 50% of property taxes in year 2 on the added value of the assessment roll

Condominiums

The tax credit is paid out through the following:

  • 75% of property taxes in year 1 on the added value of the assessment roll
  • 50% of property taxes in year 2 on the added value of the assessment roll

Local Development Center for the MRC du Granit – CLD de la MRC du Granit

The CLD de la MRC du Granit offers financial support for the start-up and expansion of companies, as well as support for entrepreneurs.

CLD Fund or Program Financial Support TypeEligible individuals or Companies
Fonds d’économie sociale
(Social Economy Fund)
Non-repayable contributionStart-up or expansion projets, or consolidation of a non-profit organization
Fonds Jeunes Promoteurs
(Youth Promotion Fund)
Non-repayable contribution, feasibility studies, new projects, trainingYoung entrepreneurs (18 to 35 yrs), 1st or 2nd for profit business
Fonds local d’investissement (FLI)
(Local Investment Fund)
Term loans or equityNew company or expansion – for profit and non-profit business
Fonds d’investissement local (FIL)
(Investment – Local Fund)
Term loans or equity – Max: $50,000Existing companies and entrepreneurs - Succession section (Relève)
Soutien au travail autonome (STA)
(Support to self-employed workers)
Funds from Emploi-Québec, benefits overs a period of up to 52 weeksIncome security unemployment insurance beneficiaries; workers in precarious status; unemployed and without financial support; new start-up projects (small for profit business)

Source : CLD de la MRC du Granit – 2014

Mr. François Chalifour, general manager and industrial commissioner
CLD de la MRC du Granit
Phone: 1 819 583-4411
E-Mail: francois.chalifour@cldgranit.qc.ca


SADC de la région de Mégantic

The SADC de la région de Mégantic (Community Development Support Agency) provides technical and financial assistance for project planning to the business community.

Regular portfolio

The SADC holds an investment fund of close to $3.5M for entrepreneurs and promoters within the MRC du Granit territory. Financial support, either as a loan or an equity stake, can reach $150,000.

Youth Strategy

For young entrepreneurs between the ages of 18 and 35, the Youth Strategy Program aims to support the start-up, expansion or modernization of a company run by young people. Financial support varies from $5,000 to $25,000, in the form of a personal loan.

Other Financial Aids

Support for New Entrepreneurs

The SADC provides a specific type of financial support for the acquisition of shares or assets for a business, in order to help and stimulate new entrepreneurs of the Granit region.

Building Frontage Operation (Opération façade)

The SADC has put in place a special program to revitalize the commercial area of Lac-Mégantic aimed at exterior renovation of the commercial buildings. This program targets the owner or lessor of commercial buildings, and provides financing for the renovation cost up to a maximum of $35,000 (including material and labor), at very competitive interest rates.

Fund for the Reconstruction of the city of Lac-Mégantic

The SADC manages a specific fund to help new business projects take off in the city of Lac-Mégantic, in the context of its economic and commercial recovery. The type of financial aid is a term loan of up to $250,000 according to certain eligibility criteria.

Mrs. Ginette Isabel, Director

SADC de la région de Mégantic
5137, Frontenac Street
Lac-Mégantic (Québec)
Canada G6B 1H2
Phone: 819-583-5332
E-Mail: info@sadcmegantic.ca
Website: SADC


Place de l’industrie

Provides helps and financial support to companies for the acquisition or construction of industrial buildings.

  • Help with the down payment, up to 25% of the loan
  • Five year lease offered to the company (mandatory buy-back clause)
  • Investment fund of $200,000 for companies with their principal place of business in Lac-Mégantic

Place de l’Industrie also manages the Lac-Mégantic Economic Diversification Fund.

  • Fund for starting or expanding manufacturing companies that wish to establish a presence in Lac-Mégantic’s industrial park
  • The company must bring new elements of diversification (new value-added products, new markets, etc.)

Place de l’industrie
5527, Frontenac Street
Lac-Mégantic (Québec)
Canada G6B 1H6
Phone: 1-819-583-2441
E-Mail: info@ville.lac-megantic.qc.ca