By rdnewsNOW Staff

Leading Forward Economic Incentives

Economic incentive grants available for Red Deer property owners and developers

Apr 21, 2022 | 2:10 PM

To increase vibrancy and generate long-term economic benefits, The City of Red Deer has launched another intake of the Leading Forward Economic Incentives program.

City officials say there are five funding categories available as part of this intake, with four applicable strictly to the Greater Downtown Area (including the areas of Historic Downtown, Railyards, Capstone and the Business Improvement Area). The fifth, a rebate on demolition costs related to vacant and derelict properties, is available city-wide.

“Through the Economic Incentives Program, we aim to support businesses and property owners by revitalizing their locations, supporting beautification, fostering safe and appealing public spaces, creating quality housing options in the downtown, and promoting a business and development friendly atmosphere in our city,” said Jason Taylor, Divisional Strategist Development & Protective Services.

Eligible applicants may apply for a portion of their costs, up to a specified amount, associated with the following:

1. Demolition of Vacant and Derelict Properties Rebate – City-wide

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2. Residential and Mixed-Use Development Grant – Greater Downtown Area

3. New Multifamily Residential Units in an Existing Building Grant – Greater Downtown Area

4. Façade and Storefront Improvement and CPTED Rebate – Greater Downtown Area

5. Utility Connection Fee Rebate – Greater Downtown Area

More information on the application criteria for each of these programs is available at on The City’s website. Applications will be accepted online from April 20 to May 20, 2022.

“This year’s intake responds directly to the feedback we heard from businesses and property owners from previous two intakes, as such we are offering grants in the areas we received the most interest in, and the guidelines were modified to better suit the needs of our business community,” added Taylor.

This year’s grants are a carry-forward from the previously council approved 2021 economic development incentives, with approximately $500,000 available for this intake. Applications will be scored based on the posted criteria, with set amounts available per grant.

You can learn more about how this program is supporting Red Deer’s economic future and the funding criteria by visiting reddeer.ca/economicincentives.