The province has given Cochrane the thumbs up to proceed with its Community Revitalization Levy (CRL) bylaw, an effort Mayor Truper McBride said will be the largest economic development project the town has ever seen.

“The CRL represents a significant achievement for Cochrane,” said McBride. “With the strong support of our provincial cabinet, this program will allow Cochrane to invest strongly in our downtown and local business.”

The CRL is a one-time opportunity for the town to redirect the education portion of collected property taxes to enhance a specific CRL area – that area being the Quarry site and parcels of land to the northwest, encompassing 25.3 hectares. These funds would otherwise be seized by the province in the form of an education tax, but if utilized properly would instead be targeted to support the cleanup and redevelopment of ‘brownfield sites.

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