Aurora approves Promenade community improvement plan

Aurora Banner
March 6, 2014
By Brea Bartholet

The Aurora Promenade community improvement plan, a strategy to revitalize business investment in the downtown Yonge and Wellington streets strip, has been given final approval.

The plan will provide financial incentives to the private sector to stimulate redevelopment.

Through the plan, council has assigned $220,000 in capital funding for financial incentives in 2014, with anticipation for further incentives of about $200,000 per year during the program’s five-year time frame.

Mayor Geoff Dawe challenged merchants in the area to support the redevelopment along the Yonge and Wellington strip.

The private sector responded with nearly $10 million in direct investments.

An committee will be established to evaluate program submissions by the business community.

Discussions are underway with York Region to consider options for its participation in the program.

Staff will now prepare a bylaw to implement the program and begin marketing efforts within the community.