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Oak Bay heritage allowances clarified
In an opinion column published last week (Preserving built history is costly), the idea was floated to offer a tax incentive program to the owners of identified heritage homes to allow them an alternative to either demolition or letting the home fall into disrepair.
In fact, the municipality of Oak Bay has heritage restoration grants available for homeowners whose properties have been put on the heritage register or have been designated.
The grants, administered by the Oak Bay Heritage Foundation, are designed to defray the cost of restorations. They usually do not exceed $1,000 per project for registered homes and $10,000 for a designated building. Over a 10-year-period from the date of the first grant, the maximums are $3,000 and $10,000, respectively, for the two categories.