(rdnewsNOW)

By Sheldon Spackman

Revitalization Efforts

DBA lauds City’s downtown development incentives

Feb 10, 2020 | 3:41 PM

The City of Red Deer has announced a new funding program aimed at supporting downtown development projects.

It’s hoped the program will increase activity and growth opportunities in the Greater Downtown Area while supporting the City’s overall Strategic Plan.

There are five funding opportunities in the program, which was announced Monday, including the Facade and Storefront Improvement Rebate intended to increase a sense of downtown pride through an investment in beautification, restoration, signage and improved security features.

Another is the Environmental Site Assessment Rebate, which supports owners of properties that require Environmental Site Assessments before redevelopment can occur, and the Demolition of Vacant and Derelict Properties Rebate, which assists property owners with demolition costs to facilitate sale or redevelopment of their property.

The others include the Utility Connection Fee Rebate, which supports property owners required to replace or upgrade utility connections as part of developing or redeveloping on their property, and the Residential and Mixed Use Development Grant, which promotes the development of newly constructed multifamily residential and/or mixed use units,

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City officials anticipate these opportunities to contribute to a healthy, successful downtown by improving aesthetic, encouraging developers to build residential units downtown, and reducing the costs of investing in the downtown.

“These economic development programs are taking intentional actions to incent development in our downtown,” says Tara Lodewyk, director of planning services, in a release. ”We recognize that downtowns are the heart of our cities and play a vital role as our communities’ business, administrative, and cultural centres.”

Property owners and developers may apply for funding from all five opportunities for a single location, pending eligibility. The first intake occurs from Feb. 15-Mar. 15, with a second intake planned Jul. 1–Aug. 1, pending available remaining funds.

Amanda Gould, executive director at the Downtown Business Association (DBA) says she’s particularly excited about the Facade and Storefront Improvement Rebate and Utility Connection Fee Rebate.

“The DBA has partnered with the City on the Facade and crime prevention program, as we run a very similar program with the DBA but with a much smaller budget,” says Gould. “So to be able to contribute meaningfully to the costs associated with a development, I think proves that the City is serious in their support of downtown.”

In regards to the Utility Connection Fee Rebate, Gould says the city has hit the nail on the head.

“Again, the City here is recognizing the costs of those associated with development in the financial climate that we’re in, and they’re trying to do their best to spur on investment in the downtown.”

Gould says the DBA’s new mission is to make downtown Red Deer a vibrant, diverse and engaged healthy community.

“The benefits of operating a business downtown is when you have a community of other like-minded business, you’re surrounded with over 500 businesses all doing the same thing,” she explains. “You have a dedicated police force down here dedicated to looking after the downtown core, a number of incentive programs to help you be successful whether that be through the City or DBA, and a big focus on the downtown. To be part of the solution has got to be quite a rewarding thing.”

Gould says the time is now for downtown businesses to take advantage of these incentives.

“If you have been considering development, if you’re about to start development, right now is the time to actually move ahead with any plans that you have,” adds Gould. “It’s a great time to do business in the downtown.”

For more information and to apply online, visit www.reddeer.ca.