Former Charlottetown city councilor Philip Brown has said that he believes that the city should be providing a 10-year property tax exemption on the new barns being constructed at the Charlottetown Driving Park.
It was reported earlier this month that the Prince Edward Island Standardbred Horse Owners Association took out a $500,000 loan it help erect new barns at the Charlottetown Driving Park. It was also reported that the provincial and federal governments have contributed a combined $1.5 million for the project.
Brown’s comments have come via an article by the The Guardian in which he was quoted as saying “The horse industry is a big industry for the city and the province,” adding, “It’s an economic generator because it brings people into the city.”
The report states that Brown’s proposal will be assessed by city council and that a decision will be announced in March.
“There is a multiplying effect there that I don’t think we recognize,” Brown said in reference to how strong racing businesses at the CDP have positive economic effects on the area. “If businesses are making money they are going to stay in the city and invest it.”
(With files from The Guardian)
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