Vic Toews, MP for Provencher and President of the Treasury Board today welcomed the launch of the Federal Government’s Municipal Infrastructure Lending Program, which will give municipalities access to the low-cost funding they need to move forward quickly on housing-related infrastructure projects.
“Municipalities with shovel-ready, housing-related infrastructure projects can begin applying, through Canada Mortgage and Housing Corporation (CMHC), for direct, low-cost loans thanks to our Economic Action Plan,” said Toews.
“This is great news for Manitoba and for our economy. Our Government is committed to supporting Canadians through these difficult economic times and we recognize the importance of infrastructure in maintaining strong and prosperous communities,” said Toews.
Doug Dobrowolski, President of the Association of Manitoba Municipalities (AMM), sees the program as another tool that municipalities can use to deal with their infrastructure needs. “What we like about this program is that it is flexible – it can be used for much of the related infrastructure that comes into play with housing projects such as roads, sidewalks, water and wastewater.”
Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects. Municipal infrastructure loans are available to any municipality in Canada and will provide a new source of funds for municipalities to invest in housing-related infrastructure projects. Eligible loans will be approved largely on a first come, first serve basis, however, CMHC will also seek to facilitate equitable access to the program and will work to encourage applications from urban and rural municipalities across Canada. Only infrastructure projects serving new or existing residential areas may be considered.
Eligible municipal infrastructure projects must directly relate to housing, contributing to the efficient functioning of residential areas. Projects include, for example, infrastructure related to the provision of housing services such as water, wastewater and solid waste services, power generation; local transportation infrastructure within or into residential areas such as roads, bridges and tunnels; residential sidewalks, lighting, pathways, landscaping and green space.
