Community Revitalization Levy (CRL) explained

A community revitalization levy (CRL) is a way for municipalities to dedicate some of the property taxes in a specific area to pay the costs for a new public facility or new infrastructure in that area.

http://www.edmonton.ca/

Category:

Education

Tags:

• CRL funding
• taxes
• community revitalization levy
• model development
• leadership
• City of Edmonton

[northernhopfrog]

This is public money, being thrown at a private project, and incurring very real business risk on revenue streams it cannot assure. If the project fails to generate the revenue forecast, the taxpayer is on the hook.

I'm more of the Klein philosophy. Government should not be in the business of being in business.

[sharrynuk]

That's a good idea. The beneficiaries of the project, i.e. the people and businesses that live and work in the area *after* the project is completed, should be the ones to pay for it. However, people who owned property in the area *before* the project started will see that property increase in value, so they should pay a portion of the cost as well.