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Calgary Herald
5 days ago
- Business
- Calgary Herald
Edmonton will suffer if this levy goes dry, say local business groups
Edmonton city council will hear from the public on Thursday and Friday before making a decision on whether it will extend the community revitalization levy (CRL) for another 10 years, bringing significant consequences for future investments in Downtown. Article content 'Extending the CRL is about making a generational investment in our city, and it directly responds to what we're hearing from local businesses. A vibrant Downtown isn't a nice to have. It's a must have,' said Edmonton Chamber of Commerce (ECC) president and CEO Doug Griffiths. Article content Article content Article content If the importance of the issue wasn't clear, the city's decision to allow two days of public hearings ahead of its vote on extending CRL is a strong signal of what's at stake. Proponents say it's the future of Downtown's revitalization, carrying implications for the future of the city as a whole. Opponents say the accompanying Oilers Event Park that's currently slated to come with the deal pumps public money into private businesses. Article content Article content The community revitalization levy allows municipalities to borrow money against future property tax revenues to help foster the development of critical infrastructure in a specific region. Article content According to the city's downtown action plan, Edmonton has used CRL funds to support the construction of Rogers Place, Warehouse Park, streetscape improvements and other city upgrades. In all, it said that funds invested from the CRL spurred billions in private investment, largely concentrated in the Ice District. Article content Article content The CRL's extension is important to the city because it is vital to moving forward with its downtown investment plan that largely hinges on the extension being approved. The city isn't the only ones who think the CRL is important to the future of the city, with the chamber, Edmonton Downtown Business Association, and Downtown Revitalization Coalition all announcing on Monday that the extension is paramount to the future of the city. Article content Article content 'Since 2015, the CRL has helped drive over $5 billion in Downtown investment,' said Heather Thomson, Edmonton Chamber of Commerce's vice-president of economy and engagement. Article content 'Edmonton is in competition right now with cities across Canada and North America for investment and businesses and people and talent, and right now we're losing, we're not winning. Extending the CRL is smart, responsible and urgent. I would like to urge city council to approve this extension to help Edmonton be at its best,' she said.
Yahoo
5 days ago
- Business
- Yahoo
Edmonton will suffer if this levy goes dry, say local business groups
Edmonton city council will hear from the public on Thursday and Friday before making a decision on whether it will extend the community revitalization levy (CRL) for another 10 years, bringing significant consequences for future investments in Downtown. 'Extending the CRL is about making a generational investment in our city, and it directly responds to what we're hearing from local businesses. A vibrant Downtown isn't a nice to have. It's a must have,' said Edmonton Chamber of Commerce (ECC) president and CEO Doug Griffiths. If the importance of the issue wasn't clear, the city's decision to allow two days of public hearings ahead of its vote on extending CRL is a strong signal of what's at stake. Proponents say it's the future of Downtown's revitalization, carrying implications for the future of the city as a whole. Opponents say the accompanying Oilers Event Park that's currently slated to come with the deal pumps public money into private businesses. The community revitalization levy allows municipalities to borrow money against future property tax revenues to help foster the development of critical infrastructure in a specific region. According to the city's downtown action plan, Edmonton has used CRL funds to support the construction of Rogers Place, Warehouse Park, streetscape improvements and other city upgrades. In all, it said that funds invested from the CRL spurred billions in private investment, largely concentrated in the Ice District. The CRL's extension is important to the city because it is vital to moving forward with its downtown investment plan that largely hinges on the extension being approved. The city isn't the only ones who think the CRL is important to the future of the city, with the chamber, Edmonton Downtown Business Association, and Downtown Revitalization Coalition all announcing on Monday that the extension is paramount to the future of the city. 'Since 2015, the CRL has helped drive over $5 billion in Downtown investment,' said Heather Thomson, Edmonton Chamber of Commerce's vice-president of economy and engagement. 'Edmonton is in competition right now with cities across Canada and North America for investment and businesses and people and talent, and right now we're losing, we're not winning. Extending the CRL is smart, responsible and urgent. I would like to urge city council to approve this extension to help Edmonton be at its best,' she said. The three groups asked Edmontonians in favour of the extension to voice their support at Thursday's or Friday's public hearing. Part of the CRL's extension relates to a project proposed by the Alberta government in its 2025 Budget, tying the province's support for extending the CRL to the city using funds for Downtown projects connected with the Oilers Entertainment Group that the province said would contribute to the city's revitalization efforts. One vocal opponent of the extension due to its connection with Oilers Entertainment Group projects is Ward Papastew Coun. Michael Janz, who reaffirmed his disapproval on Monday. 'They're trying to do a deal behind closed doors and cut Edmontonians out, and I want them to be in,' said Janz. Last week, Janz suggested that in addition to the public hearing later this week, the question should be put to Edmontonians in a referendum to ensure that the city acts in line with what the people in the city want. 'This is how democracy works. We shouldn't be doing secret deals behind closed doors for one or two businesses. That's just wrong.' The public hearings begin at 9:30 a.m. Thursday and Friday. zdelaney@ Here's what's in Edmonton's draft deal with province for OEG event park and private development Edmonton businesses launch $427 million Downtown investment plan 'Ruthlessly fair': Alberta premier says Oilers Entertainment Group deal shows fairness for Edmonton and Calgary Bookmark our website and support our journalism: Don't miss the news you need to know — add and to your bookmarks and sign up for our newsletters here. You can also support our journalism by becoming a digital subscriber. Subscribers gain unlimited access to The Edmonton Journal, Edmonton Sun, National Post and 13 other Canadian news sites. Support us by subscribing today: The Edmonton Journal | The Edmonton Sun.
