Lumby council has ratified an eight-point action plan to position the village for economic growth.
The plan comes after council received a presentation from James Kay of Aspen Lands Advisory Ltd. following an evaluation of economic development opportunities for the village within the context of the current demands and market conditions.
“The intent is to position Lumby to incent and attract residents, industry, commerce, jobs and investment,” said Lumby administrator Tom Kadla.
Based on the recommendations, the eight-point plan looks like this:
1. Create Development/Re-Development Incentives:
a. Downtown redevelopment tax exemption program;
b. Purpose-built rental buildings incentives;
c. Affordable housing through renovation incentives and creation of suites;
2. Zoning Changes:
a. Inclusionary zoning and densification (modular, carriage, 4-plex);
3. CN Rail Business Case to Restore Service:
4. Agricultural Land Commission Business Case:
a. Smart-farming initiatives and inclusion/protection/exclusion of municipal lands;
5. Flood Mitigation Works at 1826 Shuswap:
6. Asset Management Systems and Grant:
7. Amenity Wishlist:
8. Rental/Supportive/Assisted Housing Through Provincial & Federal Programs:
a. Attracting investment through established programs.
Recent studies have confirmed a housing shortage and need for new and repurposed housing of all types.
“Secondary suites and carriage/laneway homes are excellent investment opportunities for existing homeowners and residents as mortgage-helpers that create affordable living opportunities for others,” said Mayor Kevin Acton. “Identifying, promoting, and sharing these opportunities is a simple, effective economic driver.”
Positioning Lumby lands for inclusionary zoning and proactively identifying sites that would be suitable for provincial and federal grants will help create shovel-ready development projects and incent growth on the community.
“Funding is available and Lumby is well-positioned for this growth,” said Acton.
Work is underway on key aspects of Lumby’s Amenity Wishlist, Flood Protection and Mitigation Works, CN Rail, Agricultural Land Reserve boundaries, and Asset Management. Actionable steps are being taken on all fronts.
The Village of Lumby is actively pursuing economic development initiatives, and invites residents’ feedback, participation, and support in the coming months as the program takes key steps forward.