OLDS - Olds-based businesses will be getting a further break from the municipality in 2021 in recognition of the challenges the pandemic continues to bring.
Resident businesses that have a 2020 business licence and would normally receive a renewal invoice in January will have their licensing fee waived for 2021.
Council approved the proposal from finance director Sheena Linderman during the last regular meeting of the year.
“I love this idea. Thank you director Linderman for coming up with it. It’s even better than doing a tax reduction or a rebate because this is going to have direct benefit to our local businesses especially in this very trying time that we all are living in,” said Coun. Heather Ryan.
The sentiment hit on Linderman’s intent in bringing the issue to council.
“Waiving business licence fees for resident businesses would offer another small gesture of support to local businesses,” she pointed out.
A second round of pandemic-related restrictions has forced some businesses to temporarily close while others still able to operate continue to contend with reduced revenues and other operational difficulties.
The waiver is solely for businesses classified as resident – those that have a permanent location in the town. They include brick-and-mortar storefronts as well as home-based businesses. Non-resident businesses will still have to pay for 2021 licence renewals.
Qualifying businesses will be issued a business licence along with the usual application form for any updates that need to be made.
Linderman said there are currently 569 active resident businesses in the town. The yearly business licence fee is $125.
The $71,125 it will cost the town in lost revenue will be made up in the budget through Municipal Operating Support Transfer (MOST) funds.
MOST is one-time provincial program that provides funding to municipalities to help them with operational costs due to COVID-19. It can be used to help cover things like reduced revenues, and costs for cleaning, personal protective equipment and staffing.
Throughout the pandemic, the municipality has enacted a number of measures to help local businesses including offering business re-opening grants and utility and property tax deferral programs.
