VICTORIA, BC, July 3, 2024
/CNW/ - Today, Sean Fraser,
Canada's Minister of Housing,
Infrastructure and Communities, Anne
Kang, British Columbia's
Minister of Municipal Affairs, and Trish Mandewo, President of the
Union of BC Municipalities (UBCM), released a joint statement:
"Together we have finalized a new Canada Community-Building Fund
(CCBF) agreement that will continue to provide predictable,
long-term, and stable funding to local governments across
British Columbia. The renewal of
this agreement means that the critical infrastructure that supports
housing will continue to be built, maintained, and expanded.
Infrastructure investments are essential to creating communities
where Canadians want to live, work, and raise families. CCBF has
supported safer connections over busy highways, like the Bertram
Street pedestrian overpass in Kelowna, necessary replacements and upgrades
to local roads in Elkford and
Saanich, and initiatives that keep
our communities safe and clean, like the new organics waste
transfer station in Cowichan Valley Regional District and the
structural flood mitigation works along Beach Avenue in
Peachland.
With the deal announced today, local governments in British Columbia will receive over
$300 million in CCBF funding in
2024-2025 alone. Local governments will receive over $1.6 billion over the next five years, of which
$825.3 million will flow to
TransLink.
Through this agreement, funding will be distributed in three
streams:
- Strategic Priorities Fund: for application-based regionally
beneficial projects that align with set priorities.
- Metro Vancouver Regional Fund: for regional transportation
investments.
- Community Works Fund: distributed to local governments based on
population and growth rate.
Upgrading municipal infrastructure that people rely on is an
important part of addressing the housing crisis. Community growth
needs affordable homes as well as infrastructure, such as public
transit, recreation centres, and modern water and wastewater
systems.
Through CCBF we will take action to invest in projects that
support healthy, vibrant neighbourhoods.
We are taking a collaborative approach to building more
inclusive and connected communities by creating the public
infrastructure that British Columbians need."
Associated links
CCBF in British Columbia
SOURCE Infrastructure Canada