LACOMBE COUNTY — A successful county initiative to share economic development wealth with urban municipalities will be expanded to Eckville.
County council agreed Thursday to sign a joint economic agreement with the town, following a pattern set with similar agreements with Blackfalds and Lacombe.
“The Joint Econonomic Agreement will allow development in the area to move forward with the support of both the town and the county and without regard to municipal boundaries,” says a review of the deal by county commissioner Terry Hager.
Under the terms of the agreement, the two municipalities agree to share municipal tax revenues from new industrial or commercial developments in county lands adjacent to Eckville.
The county gets 70 per cent of tax revenues initially, but the town’s share goes up to half if it provides water and sewer services to the new developments — which it must do if it’s practical.
The town also agrees not to annex the lands covered by the agreement without county agreement.
The arrangements are seen as a way to promote development near urban centres without the risk to the county that any growth will be targeted for annexation as part of a tax grab.
Engen said while there are some who feel the urban municipalities may be getting too good a deal, he believes the agreements have been a success based on the development he sees occurring along the Hwy 2 corridor.
Further joint economic agreements are likely. An intermunicipal development plan has just been approved with Bentley and Engen would like to see an economic agreement follow.
pcowley@www.reddeeradvocate.com