Latest news with #OilersEventPark
CTV News
16 hours ago
- Politics
- CTV News
City votes to extend downtown tax levy, Oilers event-park not guaranteed
Public hearings still underway as Edmontonians give city council their opinions on supporting the Oilers Event Park using a levy. Jeremy Thompson reports.
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.
