A development agreement between the town and a local developer, originally extended for a year, will stretch into another year.
On Jan. 25 Steffen Olsen with Brix Construction Inc. requested the development agreement between Brix Construction and the town be extended for one year.
At its March 7 meeting council agreed to extend the agreement until April 17, 2018.
Acting CAO Donna Tona said it is common practice to extend development agreements during economic downturns.
“It offers them a hand up and it doesn’t cost the town any money. It gives them an opportunity to take a breath (while things are slower).”
Olsen said the development agreement is for an industrial parcel of land in the southeast corner of town.
Due to the economic downturn Alberta is now experiencing, interest is low in purchasing industrial land, he said.
There were 25 development permits issued in 2015 in Rimbey and 29 in 2014. A total of 17 building permits were issued in2015 compared to 27 in 2014.