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Programs key to downtown revitalization launch today

(Fort McMurray, AB – June 29, 2020) – The Downtown Revitalization Incentives Program and Downtown Tax Exemption Program are now open for business.

Downtown revitalization is one of Council’s top priorities. Both programs were unanimously approved at the June 23 Council meeting.

Downtown Revitalization Incentives Program

The Downtown Revitalization Incentives Program offers 50 per cent matching reimbursement grants to help property owners and businesses operators:

  • Improve building exteriors or façades (up to $75,000 or $100,000, depending on the building type).
  • Upgrade or rehabilitate the interiors of existing commercial buildings (up to $50,000).
  • Construct new patios or upgrade existing patios (up to $10,000).
  • Install beautification projects (up to $5,000) and murals (up to $30,000).

Incentives encourage investment that might not otherwise happen. Investment in the downtown can help improve its aesthetic qualities and transform it into a place people want to spend time.

The goal of this program is to help retain existing businesses and encourage new businesses in the downtown. By using these incentives, businesses can introduce new features and amenities that create interest and vibrancy in the core of our region.

The deadline for applications is Dec. 31, 2020. Learn more at rmwb.ca/incentives.

Downtown Tax Exemption Program

In order to stimulate investment and development in the downtown, the Downtown Tax Exemption Program offers a tax exemption for up to five years to new commercial developments and new additions to existing commercial properties.

“We are the first municipality in Alberta to take advantage of the recent changes to the Municipal Government Act, which allows for property tax exemptions on eligible development,” said Amanda Haitas, senior manager, Planning and Development. “Not only does the program ensure we stay competitive, it sends a message that downtown revitalization really matters.”

The deadline application is Dec. 31, 2021. Learn more at rmwb.ca/downtowntax.


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