Backgrounder - Faro Downtown Revitalization Project

The Canadian Northern Economic Development Agency (CanNor) has approved $700,000 in funding to the Government of Yukon for a revitalization project in the Town of Faro. This project will help create local jobs, renew the downtown core and increase the aesthetics of the Town of Faro for residents and visitors.

Faro Building Demolition
CanNor Funding: $700,000

As a legacy of the abandonment of mining operations in Faro, a number of buildings in the town have been left standing and un-maintained for a number of years. The Town of Faro has ownership of these properties because of unpaid municipal taxes.

The town is committed to the sustainable revitalization of the community and is critically aware of the health, safety and aesthetic issues the aging, derelict buildings pose.

The project is aligned with the Town of Faro’s Integrated Community Sustainability Plan to make tourism a focus for economic development. It supports Faro’s sustainability by decreasing the number of derelict buildings and improving the town’s tourism potential. The project will provide opportunities to better realize the value of existing resources, including, the interpretive centre, the historic Dena Cho Trail between Ross River and Faro, the community golf course and, most importantly, the natural scenery that surrounds Faro.

The Government of Yukon’s Department of Energy, Mines and Resources (EMR) will manage the project and an on-site project manager will manage the day-to-day removal activities. EMR will work with Yukon’s Department of Environment to ensure the proper disposal of waste materials.

Community Adjustment Fund (CAF)

Funding for these projects is being provided as a part of Canada's Economic Action Plan through the Community Adjustment Fund (CAF), a two-year $1 billion initiative whose objectives are to provide economic stimulus to create or maintain jobs in and around communities affected by the global recession, and to promote economic diversification in those communities. Long-term economic and environmental benefits are also funding considerations. The CAF is one of a suite of programs administered under the Canadian Northern Economic Development Agency (CanNor) in the Northwest Territories, Yukon and Nunavut.