The Ontario and Canadian governments are providing Elliot Lake with funds to help develop its new mall, dubbed Pearson Plaza.
Each of the governments is providing $1 million for the development, which will go towards site preparation of the seven-acre parcel of land being prepared for the new 80,000-square-foot shopping mall.
The government expects the new facility will stimulate the economy by creating jobs and attracting approximately $10 million in private-sector investment to the region.
“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,” Mayor Rick Hamilton said in a news release. “I am confident the funding announced today will help us rebuild a strong business sector and position the community for sustainable development and growth.”
Clement also announced $454,654 in funding from the Community Infrastructure Improvement Fund (CIIF) for the Lester B. Pearson Civic Centre to upgrade its heating, ventilation and air conditioning system. The centre houses a community theatre, offices, the operations base for the artistic community, and the home of the Elliot Lake Nuclear and Mining Museum.
The CIIF is a cost-sharing program under which the recipient must leverage a minimum of 50 per cent from other sources.