1. Revitalization of Edmonton’s Downtown Financial Management Institute Alberta Chapter March 14, 2013

2. Community Revitalization Levy Provincial legislation—Municipal Government Act amended 2005 Fixed life span of up to 20 years Includes increases in both the municipal and Provincial components of property tax over an established baseline assessment—the LIFT Projects are intended to stimulate development and investment that would not have happened otherwise CRL revenues are generated by these new developments

3. CRLs in Alberta First approved CRL—Calgary Rivers District 2007 focused on East Village Boundary includes The Bow, a 50+ storey office tower Calgary established a for–profit development company with a Board of Directors (Calgary Municipal Land Corporation) Phase One budget was approximately $138 million The Rivers CRL is forecast to generate revenues as high as $1.1 billion over 20 years

5. Edmonton CRLs The Quarters Downtown (approved by the province in 2011) Belvedere (approved by the province in 2012) Capital City Downtown – in progress

6. The Quarters Downtown CRL Boundary

7. Need Belvedere map 134 Ave 66 St.

8. 1.Attracting investment 2.Attracting new residents and families 3.Creating vibrant, energized people places Goals

9. Employment / local economy Vibrancy, entertainment, networking Lifestyle, culture, art, design Affordability Sustainable infrastructure costs Mobility options - walkability, cycling and transit Building a Great City

10. East Side of Downtown Edmonton Quarters Plan Area

12. A Phased Approach Urban Renewal - CRL Financing Phase 1 Estimated Costs $56m Phase 2 Estimated Costs $110m

13. Aerial Imagery Looking East Urban Renewal - Boyle Renaissance Phase I Phase II

14. Boyle Renaissance Phase I Boyle Street Plaza Melcor YMCA Village

15. Phase 2 – Under Construction Boyle Renaissance – Phase 2

20. Questions?