Elliot Lake is getting $1 million in FedNor funding to complete site preparation to a seven-acre parcel of land which will pave the way for a new 80,000-square-foot retail centre.
Minister for FedNor, Tony Clement, was in Elliot Lake on Jan. 8 to make the announcement. The funds will also be used to deliver municipal services to that area.
Once complete, the facility will lease commercial space to businesses displaced by the roof collapse at the Algo Centre Mall in June 2012. Identified as a local priority, this project is expected to stimulate the economy by creating jobs and attracting approximately $10 million in private-sector investment to the region.
The new facility is being built in the wake of the June 23, 2012 collapse that killed Doloris Perizzolo and Lucie Aylwin.
“The people and businesses of Elliot Lake have shown great strength in the face of adversity and the Harper Government is proud to support them with this targeted investment to help revitalize the local economy,” said Clement.
“The Algo Centre Mall roof collapse was a defining moment for the City of Elliot Lake and the Government of Canada and FedNor have been there to support us every step of the way,” said Elliot Lake Mayor Rick Hamilton.
“I am confident the funding announced today will help us rebuild a strong business sector and position the community for sustainable development and growth.”
The funding is provided through FedNor’s Northern Ontario Development Program, which supports projects that strengthen community economic development, enhance business development and growth, and facilitate innovation throughout the region.
The federal government is also providing Elliot Lake with more than $450,000 to upgrade the Lester B. Pearson Civic Centre's heating, ventilation and air-conditioning system.
“The Civic Centre is an integral part of our community’s social and cultural scene,” said Hamilton.
“This investment, through the Community Infrastructure Improvement Fund, will help ensure that the facility continues to meet the needs of our residents now and in the future”.
Those funds are being made available through the Community Infrastructure Improvement Fund (CIIF).
The CIIF supports, on a cost-shared basis, repairs and improvements to existing community infrastructure that is accessible for use by the public.
Recipients may receive contributions of up to $1 million and must leverage a minimum of 50 per cent of funding from other sources.