Lacombe borrowing $750,000 to help land major retailer
The City of Lacombe is digging deep with hopes of bringing new retail shopping opportunities to the community.
On Monday, council approved Bylaw 462 which aims to kick-start growth in Lacombe Market Square by borrowing $750,000 to help kick-start the stalled commercial area along Highway 12 at Wolf Creek Drive, and hopefully entice a large Canadian retailer to set up shop.
However, which ‘big Canadian retailer’ that may be will not be announced until an agreement is signed, nor will the investment take place until an agreement is secured with the developer.
City officials say agreements have been prepared between the parties involved, with the total cost to the municipality being $750,000. The municipality is to facilitate the transfer of lands between the arm’s-length developers for the location at 4915 Wolf Creek Drive.