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What types of projects can be funded through the DRI?

Projects that receive DRI funding must have a positive, transformative impact on downtown Waterloo. Eligible project types include public improvement projects (e.g., park improvements, streetscape enhancements), new development / building rehabilitation projects, marketing/branding strategies, and small project grant funds (i.e., a fund administered by the Village for smaller scale building improvements).

How can I get involved in the Waterloo DRI?

Public engagement is central to the Downtown Revitalization Initiative, and there will be opportunities throughout the process to share your thoughts and opinions. This will include a public comment period at the end of each Local Planning Committee meeting, public workshops, and other engagement activities that will be determined at the outset of the process.

Visit the homepage for upcoming events. If you missed an event, the materials used will be posted on the resources page.

Who decides how DRI funding is distributed?

A key role of the Local Planning Committee (LPC) will be to discuss and evaluate the projects that are submitted for DRI funding. A team of planners, architects, landscape architects, market analysts, and cost estimators will support this process by compiling information, working with project sponsors to refine their projects, and assessing their overall feasibility and impact.

Towards the end of the process, the LPC will vote on a slate of projects to recommend to the State for funding, totaling more than the $10 million award. From these recommended projects, the State will select $10 million worth of projects to receive DRI funding.

What is the overall timeline for the Waterloo DRI?

The planning process for the Waterloo DRI is anticipated to last approximately eight months. The process will be officially kicked off in May 2024. The Strategic Investment Plan, which includes detailed descriptions of the recommended projects, will be submitted by the consultant team to the State in December 2024. It is expected that DRI funds will be award in the early part of 2025, with projects breaking ground within the following two years.