Edmonton’s Quarters Community Revitalization Levy Approved
September 12, 2011
First approved CRL in Edmonton will enable needed revitalization
The City of Edmonton has received approval for The Quarters Community Revitalization Levy (CRL) from the province. This is the first CRL in Edmonton to receive provincial approval.
The City will use the CRL to fund $56 million of infrastructure and public amenities in the area. The approved CRL area encompasses the entire Boyle Street neighbourhood and includes two areas of special planning where the public infrastructure investment will be focused – The Quarters and Boyle Renaissance (these areas are between 97th Street, Jasper Avenue and the LRT tracks).
“The Government of Alberta’s approval of this CRL is valued and needed. This investment will promote revitalization in the area,” says Gary Klassen, General Manager of the City’s Sustainable Development department. “Edmonton is a vibrant capital city and investments in public infrastructure will attract private investment, businesses and services while encouraging economic growth for this core area adjacent to our growing downtown.”
The CRL is not a new or additional tax on existing property owners in the area. It is a way municipalities can dedicate future property tax revenue – both municipal and provincial taxes – in a specific area to pay for new public infrastructure and provide funding that achieves economic, social and environmental objectives in an area.
A baseline for assessed property values within the CRL area will be set as of December 31, 2011. Any increase in assessed property values above the baseline will be collected and applied towards the payments for infrastructure investment in the CRL area as redevelopment occurs over the next 20 years.
Future phases to create infrastructure and associated redevelopment could see additional investment of up to $110 million funded through the approved CRL. This is in addition to over $200 million in private sector investment that is currently planned for the area, based on Council-approved plans and commitments. Construction is expected to begin on some projects in 2011 and on others in 2012.
The City is also examining the feasibility of using a CRL to revitalize downtown Edmonton for an area approximately between Jasper Avenue and 105 Avenue and 101 and 109 Streets.