Proposed Municipal Venture Corporation
The Village of Burns Lake wishes to establish a Municipal Venture Corporation to undertake specific economic development projects that can benefit the community at large while also controlling risk and limiting liability and financial exposure to the taxpayers.
A Municipal Venture Corporation has the ability to negotiate a wider variety of commercial relationships with developers, builders and other Local Governments and agencies in the form of partnerships, joint ventures and equity opportunities, to maximize the absolute value of the Village’s landholdings as well as generate a long-term revenue stream for the Community.
More information can be found at the link below on how the proposed Venture Corporation will function, the benefits and oversight in place, implications for taxpayers, and examples of other Venture Corporations.
Please reach out to the Village of Burns Lake if you would like to discuss this proposed Venture Corporation.
