Dec. 19, 2022 / For immediate release
AIRDRIE, AB - The City of Airdrie is considering a new tool to help fund revitalization in the Downtown area: a Community Revitalization Levy (CRL). The CRL was developed by the province to allow municipalities to use the provincial portion of tax revenues from assessment increases in a particular area for municipal projects.
“This provincially approved tool could help us fund revitalization projects associated with Airdrie’s Downtown Plan,” says Stephen Utz, Director, CAO Office. “When there are increases to assessed property values in a defined CRL area, the municipal revenue and the provincial education portion of the property tax collected on the increased value is spent on public improvement projects in the CRL area.”
A CRL is not an additional property tax — it does not change the taxes paid by property owners. The funding mechanism means that Airdrie property owners will pay less for the public improvement projects that will make the Downtown a place that people love.
The City of Airdrie has been working on the proposed CRL since the province relaunched the program in July. Provincial officials are supportive of this initiative and very recently accelerated the final approval process. The process should be completed by Dec. 31, 2022 to maximize the long-term value for Airdrie.
Airdrie’s CRL is being developed to fund a variety of projects in the Downtown Plan over the next 20 years.
Council is deliberating a Bylaw to enact the CRL at a Special Meeting of Council on Dec 28 at 6pm. The meeting can be watched online at airdrie.ca or attended in person.
Find out more about the CRL and proposed projects including a map of the CRL area at www.airdrie.ca/crl