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Waterloo DRI: How will Village spend $10M to improve downtown and canal access?

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  • Staff Report 

The Town of Waterloo recently announced plans to invest its $10 million Downtown Revitalization Initiative (DRI) grant in 13 transformative projects aimed at enhancing the village’s allure and functionality. Among the proposed projects is a new Memorial Day Museum, poised to become a cornerstone of the community’s enriched historical landscape. With total project estimations exceeding the DRI grant by $4.6 million, some proposals may require adjustments to fit within the budgetary constraints.


The DRI funding will spearhead improvements across various sectors, including the revitalization of Oak Island Park and the Historic Waterloo Square. The ambitious projects include infrastructural enhancements to promote accessibility, environmental sustainability, and community engagement. Efforts to modernize and expand commercial and residential spaces are also highlighted, with initiatives like the Building Improvement Fund and Canalside Development aiming to rejuvenate downtown Waterloo and bolster local economy.

As Waterloo embarks on these diverse development projects, with timelines stretching over the next few years, the village anticipates a vibrant transformation. The initiative reflects a concerted effort to honor Waterloo’s rich heritage while paving the way for future growth and sustainability. Through careful planning and community involvement, Waterloo is set to redefine its identity as a dynamic and welcoming destination.