The Rivers District Community Revitalization Plan outlines a public infrastructure program that will facilitate the reclamation, redevelopment, and revitalization of the underdeveloped inner city area in the plan’s title. From the start, the plan was ambitious, and Calgary City Council put a lot of faith into CMLC when they assigned them the task – and they haven’t disappointed. “Our success traces back to the fact that we deeply believe in the project,” says Clare LePan, Vice President, Marketing & Communications. “The Rivers District Revitalization Plan provides our city, province and country with an extraordinary asset that’s helping to elevate Calgary’s reputation as one of the world’s best places to live, work and visit.” The Rivers District Community Revitalization Plan is funded by the Community Revitalization Levy (CRL) – an innovative funding system created specifically to ensure CMLC could fulfil the plan’s ambitious economic, social, and environmental objections. This financing mechanism was designed to provide up to 40 years of stable funding without creating an additional tax burden for citizens. Similar to Tax Increment Financing (TIF), which is used widely in the United States, the CRL provides a means to segregate property tax revenue increases that result from redevelopment in the Rivers District into a fund for infrastructure improvements in the area. The City of Calgary levies and collects the CRL through the property tax system and then allocates the funds to CMLC to implement the Rivers District Community Revitalization Plan. OCTOBER 2022
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