COLD LAKE - The City of Cold Lake has advanced its efforts to meet local housing demands by making a motion in support of a Local Growth and Sustainability Grant (LGSG) application.
The grant funding is intended to facilitate essential municipal infrastructure such as roads, water distribution, and stormwater and wastewater collection systems, ensuring the area meets urban development standards, according to the City.
If successful, the LGSG will cover 50 per cent of the project’s estimated $1.86 million cost, with the remaining funds to be contributed by the City of Cold Lake. The council resolution passed on Dec. 10 ensures the city’s compliance with grant requirements, advancing the initiative.
Azam Khan, general manager of Infrastructure Services with the City, explained that the grant application was submitted by the Nov. 29, deadline but required council approval through a resolution by Dec. 20.
The proposed development is expected to address housing and infrastructure needs in the community.
Khan explained that the grant was submitted to support the development of two mixed-use residential parcels within the South Outlet Plan, which is expected to provide approximately 84 housing units and accommodate around 218 residents.
Khan added, "The grant is for about $1.86 million dollar and it's a 50 per-cent grant and 50 per-cent principal contribution," meaning that half of the funding will come from the Alberta Municipal Affairs grant, while the other half will be contributed by the City of Cold Lake.
Goals and vision
The proposed development aligns with the Cold Lake South Outline Plan, which envisions creating rental and condominium-style housing to meet the growing demand for affordable living spaces.
According to the City, the project, led by the City itself, is aimed at attracting local developers and spurring further growth in the Cold Lake South area. It is designed to help fulfill the vision set out in the 2007 Central Area Structure Plan. Public consultation for the project was held during an open house on Nov.13 at the Cold Lake Energy Centre.
The project represents a step in addressing forecasted population growth and promoting economic development. By creating affordable housing and providing necessary infrastructure, the City aims to build a resilient and inclusive community for its current and future residents.
Council unanimously passed a motion to support the Local Growth and Sustainability Grant (LGSG) application through a formal resolution.
