Rimbey town council and administration, cognizant of the slow-down in the economy, had no problem extending the development agreement of one of its local developers.
On Jan. 25 Steffen Olsen with Brix Construction Inc. requested the Development Agreement between Brix Construction Inc.and the Town of Rimbey be extended for one year.
Mayor Rick Pankiw said he had no problem with the request.
“It is a very reasonable request,” he said.
“It’s pretty common,” added interim CAO Donna Tona.
Olsen said the development agreement is for an industrial parcel of land in the northeast area of town.
He said interest is low in purchasing industrial land.
“Activities are down,” he said.
With the price of oil continuing to plunge below $30 a barrel, Olsen doesn’t see a bright light at the end of the tunnel for the economic picture in Alberta, at least not for 2016.
“I’m not too optimistic for this year,” he said. “Not for this year.”
However, Olsen said he is fortunate to be able to keep all his work crew busy and is hopeful the financial picture in Alberta will eventually turn around.
There were 25 development permits issued in 2015 in Rimbey and 29 om 2014. A total of 17 building permits were issued in2015 compared to 27 in 2014.