TAMRMS#: B06
4.2
Information Item Only
title
Lakeview Business District Overview & Update
Presented by:
Mike Erickson, Director, Economic Development
Dawny George, Director, Engineering Services
Patricia Nicol, Manager, Investment Attraction & Growth, Economic Development
Jordan Betteridge, Manager, Asset Management, Land & Int Infrastructure Services, Engineering Services
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SUMMARY
The report provides an overview and update on work completed, underway, and planned to advance development in Lakeview Business District.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On October 15, 2024, Council passed the following motions:
AR-24-403
That the Capital Charter entitled "ENGS-05" in the amount of $62.7M, provided as Attachment 1 to the agenda report entitled "Lakeview Business District Servicing", dated October 15, 2024, be approved.
BL-24-026
That Bylaw 26/2024, being a borrowing bylaw for Lakeview Business District Servicing Bylaw, be read a first time.
On January 21, 2025, Council passed the following motions:
BL-25-01
That Bylaw 26/2024, being a Borrowing Bylaw for Lakeview Business District Servicing, be read a second time.
That Bylaw 26/2024, be read a third and final time.
On April 15, 2025, Council passed the following motion:
CB-25-022
That the Lakeview Business District Development Acceleration Program be approved, to be funded through: $1,600,000 from stabilization reserve; and $800,000 annual transfer of assessment growth to begin in 2025; commit this annual transfer in the Growth Stabilization Reserve until a total balance of $8 million is reached.
BACKGROUND AND DISCUSSION
Background
The City has been planning for and investing in the Employment Lands and Lakeview Business District for approximately 15 years. In that time, more than $190 million has been invested or decisions made to invest in capital projects that enable growth in West St. Albert, which encompasses 1,035 hectares (2,557 acres), and which i...
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