City Council passed the third reading of a financial assistance by-law at Monday’s regular meeting of council.

The by-law is now in place to encourage business owners, who own the land or building where their business is located, to invest in large scale projects and improvements.

Councillor Kathy Valentino spoke in favour of the by-law, saying it’s about time third reading was given, and that this shows that the City is trying to help attract, and retain, businesses in the community.

The third reading passed unanimously.