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Additional $2.6 million will cover increase in eligible applications
Council approved the most recent round of applications for the Downtown Revitalization Incentives Program. This phase saw a significant increase in interest.
The incentives program offers grants for businesses and organizations to improve and upgrade eligible properties in the downtown. On June 13, Council approved a further $2.6 million to the original $3-million budget of the latest phase of the program.
As of July 4, a total of 224 applications were approved for funding, with the Regional Municipal of Wood Buffalo (RMWB) investing over $7.8 million in grants to-date. These grants were available to eligible buildings in the downtown area to promote investment and improve the appearance and strengthen the appeal of the downtown area.
Program highlights
Since 2020, the program has:
- Generated at least $14.1 million in private investment.
- Received nearly 400 applications.
- Supported 99 completed projects to date.
“This is great news, being able to extend the funding means more valuable investment in our downtown,” said Kodjo Efu, acting Senior Manager for Planning and Development. “This program is helping to make a truly attractive downtown while also supporting the wider local economy and helping us to meet the “Downtown Visualization” milestone set in Council’s Strategic Plan.”
For more information about the Downtown Revitalization Incentives Program, visit rmwb.ca/incentives.
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