Twelve properties in Red Deer were awarded grants as part of this spring’s intake of the Leading Forward Economic Incentive program.
The program aims to improve economic vibrancy and generate long-term economic benefits with grants to revitalize storefronts, improve beautification, build quality housing in the downtown, and demolish vacant and derelict properties city-wide.
In total, the following grants were awarded to 12 property owners and/or developers, with four receiving multiple grants:
- Three properties received the Demolition of Vacant and Derelict Properties rebate
- Seven downtown properties received the Façade and Storefront Improvement rebate
- Four downtown properties received the Utility Connection Fee rebate
- Three downtown properties received the Multifamily Residential Units in an Existing Building grant
In total, $289,125 was awarded to support more than $10.7 million of private sector investment and development in our city. Funds used for this intake were previously approved by City Council.
“We are pleased to once again partner with our business community and property owners to support revitalization and beautification of spaces that contribute to our community’s vibrancy and overall atmosphere,” said Tara Lodewyk, City Manager. “This incentive program is one way we are working to become an economic leader.”
To learn more about how this program is supporting Red Deer’s economic future and the funding criteria, visit reddeer.ca/economicincentives.
For more information, please contact:
The City of Red Deer