Proposed dental clinic and apartments first to receive Tantramar’s development tax incentive, Lafford applies to become second
A $1.3 million dollar mixed-use building project for 35 Main Street will be the first project to receive an incentive in the form of a tax rebate from the new town of Tantramar, based on a policy passed in Sackville in March 2020.
A Moncton-based dental surgeon has plans for the vacant lot just uphill from Sackville town hall. Daniel Nachaat is listed as the director of the numbered company that bought the vacant property in 2021. This year, Nachaat’s company applied to the town’s economic development incentive program with a proposal for a three-storey development including a ground floor dental clinic, and two upper floors with a total of eight one-bedroom apartments.
The project is being managed by Dieppe-based real estate investment company Quest Capital and is the first ever development to apply for and be approved under the new incentive program, which offers property owners a 50% or more tax rebate over 5 or 10 years, for commercial, industrial or multi-unit residential projects.
The Quest Properties project is estimated at costing $1.3 million, and without the incentive program, would bring in an additional $25,000 per year in taxes for the municipality. With the incentive program in place, more than half of that potential tax revenue, about $72,000 over the first five years, will stay with Nachaat’s company.… Continue