The Regional Municipality of Wood Buffalo (RMWB) is moving ahead with the third phase of its Downtown Revitalization Incentives Program.
On May 21, 2024, the Council approved the third phase of the Downtown Revitalization Incentives Program (DRIP), which includes $2.4 million in total grant funding. The program aims to help downtown businesses, commercial property owners, and community organizations improve their buildings and surrounding areas.
The RMWB also changed some aspects of the program hoping to make the DRIP easier on businesses. All organizations with approved grants will now have up to 18 months to complete projects, instead of the previous 12 months. The funding can be used for improvements to an organization’s façade, interior, and premises, and even for creating murals. Projects that include accessibility and safety may be eligible for additional funding.
“We are committed to supporting downtown, and we are pleased to continue the successful Downtown Revitalization Incentives Program,” said Mayor Sandy Bowman.
We have heard time and time again from local businesses, property owners, community organizations, and community members that the program is taking us in the right direction. It’s a good example of what can be done when we work together to enable the community’s progress.”
Over the past four years, 275 projects approved, with the RMWB committing $9.1 million in grant funding.