Two letter submissions to NanaimoNewsNOW focused on the city's rent bank to help struggling people with bills and a proposal from the Chamber of Commerce to keep businesses exempt from a tax increase in 2021. (NanaimoNewsNOW)

By NanaimoNewsNOW Staff

LETTERS TO THE EDITOR

Water Cooler: Rent banks, Nanaimo business tax rates

Apr 21, 2021 | 12:29 PM

NANAIMO — The Water Cooler is NanaimoNewsNOW’s letters to the editor-style segment, featuring conversations about the news in Nanaimo and Oceanside.

This week’s feature focuses on the progress of Nanaimo’s rent bank and a pitch from the Nanaimo Chamber of Commerce to freeze increased on property taxes for local businesses.

Jim T., Nanaimo: This is an example of just how unstable our economy and society have become. This is some of the collateral damage being caused when all of society is focused on a single issue. The chances of any of this money being repaid is pretty remote. The idea that a landlord can not evict during this time seems oblivious to the effect that has on landlords who have mortgages to service even when rental income does not come in.

Offering a one time grant of up to $10,000 to business being closed is yet another example of government’s lack of any real plan to deal with what is becoming a complete collapse in our society. The casualties of covid measures are proving to be far more significant than those caused by the actual virus itself. The largest casualty is going to be our nation as the national debt continues to skyrocket.

NanaimoNewsNOW: The rent bank in Nanaimo has never been pitched as a solve-all for the region’s issue of homelessness and affordable housing. What it is, is a safety net.

rare sight

Clear Nanaimo skies offering prime 'planetary parade' viewing

19h ago

expanded space

Modular classrooms coming for space-strapped Nanaimo schools, timelines clarified

Jan 18, 2025

cell tower

Rogers pushes for improved Nanoose Bay cell service

Jan 17, 2025

Under different circumstances, an unexpected bill might be placed on a credit card or line of credit. However for people living on a razor thin edge financially, the rent bank offers a valuable service. The money offered is under a loan structure and is designed to be paid back with minimal or no interest. Loans can also be forgiven and funding for the rent bank isn’t contingent on all loans being paid back.

Many of the loans given out to date are for smaller items like utility bills, to avoid connections or services being cut. It is expected demand for the rent bank will continue to grow, but staff running the service are stretching $90,000 as far as it will go for now.

– – –

Kim S., Nanaimo: The important thing is that they accepted our proposal to prepare a staff report showing a serious consideration of the notion. Having staff prepare the report goes far beyond what we’ve been able to achieve with previous councils. We remain supportive of Council and appreciative that they had staff undertake the study. We know the work was done thoroughly and we knew there would be challenges as Councillor Hemmens pointed out. And we concur that the City has done quite a bit to help business through our first year of Covid.

NanaimoNewsNOW: The proposal to freeze the 2021 property tax increase for businesses brought forward by the Greater Nanaimo Chamber of Commerce was designed to ease a financial burden on businesses in the city who are facing ongoing setback due to the COVID-19 pandemic.

The decision Council was forced to make was offsetting the revenue loss from this proposal elsewhere. Without business taxation, residents must pick up the tab which isn’t something Council was prepared to do at this time.

Another concern from Council was compounding impacts for the business community. A one-time freeze on property taxes would likely result in a higher-than-normal bump for 2022, a time when a great deal of uncertainty is expected.

In the days following this story, Council all-but locked in a 3 per cent property tax increase. The budget will be given three readings in early May and must be approved by a May 15 deadline.

Join the conversation. Submit your letter to NanaimoNewsNOW and be included on The Water Cooler, our letters to the editor feature.

info@nanaimonewsnow.com

On Twitter: @NanaimoNewsNOW