City of Winnipeg unveils COVID-19 economic recovery plan – Winnipeg

The Metropolis of Winnipeg has its eye on financial restoration and it has a large two-year technique in place to make that occur.

The COVID-19 Financial Response and Restoration Plan has been unveiled and can be reviewed at a variety of metropolis committee conferences subsequent week.

“There’s been some important impacts downtown and all through the Metropolis of Winnipeg,” Councillor John Orlikow mentioned.

“And if we don’t assist tackle the impacts that occurred, similar to misplaced enterprise, slowing of growth downtown, our parks, it’s going to take us longer to get well.

And I believe we’re able to get well. We’re drained however we wish to transfer ahead, so this plan is to point out us that the Metropolis of Winnipeg is dedicated to rushing up as finest we will, the restoration from COVID.”

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RELATED: City of Winnipeg projects $16.6M deficit due to COVID-19

The plan targets companies, neighborhood centres, downtown, and infrastructure.

The downtown technique features a request for $90 million, with $30 million coming from every degree of presidency.

Town’s portion would come from Canada Group-Constructing Funds (beforehand often called fuel tax funding) whereas as much as $20 million in Tax Increment Financing would help development of inexpensive housing within the downtown with a brand new program.

Greater than half of the proposed $90 million, would go to revitalizing downtown locations, together with the renewal of Broadway, upgrades to Central Park and extra.

“This report clearly indicated downtown is a precedence,” President & CEO of the Winnipeg Chamber and Commerce Loren Remillard mentioned.

“There’s a recognition that our downtown is being severely impacted and that is placing in important {dollars}. That’s very encouraging.”

Town would additionally proceed to help neighborhood centres by means of working and debt grants.

On the enterprise facet, the town says it might proceed to extend the Small Enterprise Tax Credit score Threshold, and proceed the short-term patio program and waiver of charges till the tip of 2022.

And one other $10 million from the Canada Group-Constructing Funds could be used to enhance parks to accommodate bodily distancing measures.

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Government Director of Trade District BIZ David Pensato can be inspired by the report.

“This can be a very sturdy sign that the town is prepared to work with us,” Pensato mentioned. “We’re wanting ahead to digging into the small print with the town and different counterparts to verify the investments being made are strategic and consequential.”

The report can be introduced on the metropolis’s 5 neighborhood committee conferences subsequent week after which can be introduced for consideration on the November 17 EPC assembly.

© 2021 International Information, a division of Corus Leisure Inc.

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