ADAM JACKSON/Rimbey Review
The Town of Rimbey is close to approving an incentive program to help businesses improve the look of their buildings, thereby improving the façade of the town.
If the policy takes effect, business owners would be given the opportunity to apply for the program and receive up to $5,000, depending on their project.
Council will review the recommendation from the economic development advisory committee Aug. 22.
If approved, the first-year budget would be $50,000 for the grants. The program would last two years and be re-evaluated to check its efficiency.
“We’ll have to see what they come back with, but if they don’t make any major changes, it should pass through — they agreed with it in principle,” said Mayor Sheldon Ibbotson.
One of the changes recommended by the committee was to amend the parameters for the rebates.
With the current policy, businesses with renovations ranging from $50,000 to $100,000 construction costs receive $1,000; $100,000 to $200,000 receives $2,000; $200,000 to $300,000 receives $3,000; and $400,000 and more receives up to $5,000.
To be eligible for the new one-time grant, the business must have plans approved by the town for at least $50,000 worth of work. After the construction is completed, the grant would be issued.
Businesses who have already started work will not be eligible for the grant incentive.
“The business association represents the business community, so if they’re pretty happy with it then I expect that businesses throughout the town will be happy with it as well,” said Ibbotson.
The Town of Rimbey had a few hoops to jump through to get the project off the ground.
“Anything that is designed as a tax rebate, refund or forgiveness simply to attract business into the community is not allowed,” said Ibbotson. “But if you do infrastructure or grants in support of, it’s allowed.”
“Basically if you use it to help their payment or infrastructure costs, it’s allowed because then you have more control over what goes into it.”
Ibbotson says that although the plan is intended to keep business in Rimbey and attract more to Rimbey, there is more than can be done throughout the community.
“This is another feature that Rimbey will have that it didn’t have before,” said Ibbotson. “Lots of things can help though, you always do as many things as you can to make the community better. If you start to build a more active recreation program for all ages, set up more parks and trails and more amenities in your town, you’re going to bring more business in and more people.”
“It’s a step that encourages businesses to come to Rimbey, but it’s also an opportunity for the businesses that are already here to expand.”
Forming the committee comes on the heels of disagreement from the business community following a change of plans by council.
A few months after the current council was elected, the decision was made to abolish the tax incentive program to reduce expenses.
After hearing displeasure from the business community, committee member and local businessman Stan Cummings proposed an idea in May 2011 that was immediately given consideration by council.
Although his brainchild has changed significantly from what was originally proposed, the same basic principles remain.