The City of Cambridge’s Main Street is up for some major streetscaping, and officials from the city are all ready to dish out $750,000 for the project.

Cambridge’s budget committee has recently approved the motion to take money from the funds to be used for the redevelopment of the riverbank area in Hespeler.

Furthermore, the remaining balance will be shouldered by the Harper government’s FEDDEV Ontario’s Community Adjustment Fund, which is responsible for providing funding for streetscaping projects and the like.

According to Jim King, chief administrative officer for Cambridge, Main Street had to receive funding for a streetscaping project due to one private developer’s investment plans. David Gibson plans to spend $5.5 million for the renovation of some 7 buildings in downtown Galt. The FEDDEV program’s promise to cover half of the overall cost was also a very encouraging factor, King added.

However, the project is not without its opponents. Councilor Pam Wolf voiced her opinion about the high cost of the development, and pointed out that $750,000 is too large an amount, especially during these tough economic times.

Cambridge Mayor Craig however, commented that an opportunity like this is very rare. If not now, then when? He asked.