MDC Abandoned in Favour of Real Estate Advisory Committee
Industry came out strongly against the establishment of a Municipal Development Corporation in Edmonton last year, fearing it would lead to an uneven playing field and wasted tax dollars. Last week NAIOP was happy to support administration’s latest recommendation to cease work on the establishment of a Municipal Development Corporation. Read: NAIOP's Letter to Council Through consultation with our industry groups, a stronger solution has been realized. The Real Estate Advisory Committee uses city and industry expert advice to help make decisions to retain, improve, or sell surplus land, to achieve its best value. Further, the creation of the Edmonton Community Development Corporation is enabling Administration to support specific new affordable housing development. We are confident this collaborative approach will activate, improve, and increase assessments on more land, and create value for the City of Edmonton.
See the full Report to Executive Committee