Community Revitalization Levy
An innovative funding system – the first of its kind in Canada when it was established in 2007 – the Community Revitalization Levy (CRL) was created specifically to ensure CMLC could fulfil the Rivers District Revitalization Plan’s ambitious economic, social and environmental objectives.
Similar to the Tax Increment Financing (TIF) used widely in the United States, the CRL provides a means to segregate property tax revenue increases that result from redevelopment in the Rivers District into a fund for infrastructure improvements. The City of Calgary levies and collects the CRL through the property tax system and then allocates the funds to CMLC to implement the Rivers District Community Revitalization Plan.
Since 2007, CMLC has committed approximately $396 million to East Village infrastructure and development programs. This, in turn, has attracted nearly $3 billion of planned development (so far). In turn, residential property assessments in the Rivers District have increased from $328 million to approximately $1.2 billion, while non-residential assessments have gone from $647 million and $1.8 billion.
Now, as CMLC’s focus expands into the southern portion of the district with the creation of the Rivers District Master Plan for east Victoria Park, the CRL will continue to help fund significant public infrastructure upgrades required to enable development and stimulate investment in the district. In October 2018, the City and CMLC submitted an updated Rivers District Revitalization Plan to the Province of Alberta to support our request for a 20-year extension. In December 2018 the Province of Alberta approved an amendment to the Municipal Government Act to allow a 20-year extension of the CRL from 2028 to 2047, and in January 2019 the City Council approved the bylaw amendment to enable to CRL.
This amendment will effectively extend the life of the CRL from 20 to 40 years..
As Rivers District redevelopment proceeds, the progressive increase in property tax revenue in the District will generate sufficient CRL dollars to complete the infrastructure improvements and placemaking initiatives required to complete the transformation and revitalization of east Victoria Park, East Village and the rest of the District.
Infrastructure Investment: $396 million
Planned Private Investment: $2.8 - 3 billion