Advocacy Update - Industrial Investment Action Plan

June 29, 2016

The NAIOP Edmonton Advocacy Committee is excited to share the progress being made with the City of Edmonton on the Industrial Investment Action Plan (IIAP). Feedback from principal members indicated that this was a plan that you would like to support. Therefore, together with UDI, NAIOP Edmonton has contributed and worked with the City of Edmonton to advise during on the creation of the plan.

 

For NAIOP members, an important part of the plan is Action 3 below, where City administration has proposed an Industrial Infrastructure Partnership Model as either supplemental or to replace the existing Revolving Industrial Servicing Fund (RIS Fund) that allows front end developers to recover over expenditures from two sources. The new model is one created by NAIOP members which upon implementation, will allow developers to recover their over expenditures from 50% of their own tax uplift. This modification also reduces the burden for subsequent developers.

 

Summary of the IIAP

The Industrial Investment Action Plan report presented to City Council, provides nine actions that will strive to maintain the City’s current tax assessment base, provide a strong employment base and facilitate diversification of Edmonton’s economy. Administration along with key stakeholders completed an analysis regarding Edmonton’s industrial competitiveness.

 

The report identifies infrastructure investment required to stimulate industrial development and a fiscal impact assessment that examines financial scenarios and options to improve the tax assessment ratio of residential to non-residential development.

 

The report proposes the following 9 actions.

Action 1 - Improve Image, Reputation and Marketing Functions

Action 2 - Implement Flexibility Regarding Design Standards

Action 3 - Explore Alternative Funding Tools and Options

Action 4 - Introduce Capital Project Prioritization Framework

Action 5 - Increase Speed to Market Development

Action 6 - Leverage Industrial Business Facilitation and Retention Program

Action 7 - Increase Investment Readiness of Edmonton Energy and Technology Park

Action 8 - Implement Industrial Eco-Industrial Principles

Action 9 - Prioritize Industrial Infrastructure Projects

 

See the entire submission administration presented to City Council.

 

Read more about the plan as summarized in the Edmonton Journal.

 

NAIOP Edmonton would like to thank the City of Edmonton for their cooperation and focus on incentivising industrial development. This is a good move for our members and we look forward to continuing to work with the City to remove barriers to development. If you are interested in learning more about this initiative or any of our advocacy initiatives, please contact us.

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