The Government of Canada approved 42 low-cost infrastructure loans for more than $192 million to 11 different municipalities throughout the Province of Ontario as part of Canada's Economic Action Plan.
The loans were provided by the Government of Canada on behalf of the Canada Mortgage and Housing Corporation through the Municipal Infrastructure Lending Program to support housing related infrastructure projects.
"Our Government understands the importance of infrastructure in maintaining strong and prosperous communities," said the Honourable John Baird, Leader of the Government in the House of Commons.
"This program is opening the door for municipalities to meet their housing- related infrastructure needs. Canada's Economic Action Plan will continue to create jobs and stimulate the local economy here in Ontario and in all corners of the country."
These low-cost loans will benefit municipalities all across the Province as they pursue their housing-related infrastructure goals and prepare for future growth.
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 through the MILP. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects.
Project Breakdown
The Regional Municipality of Niagara has been approved for 13 low-cost loans totaling more than $43.1 million to improve roads, wastewater storm systems and wastewater treatment facilities.
The Regional Municipality of York has been approved for 3 low-cost loans worth $56.3 million for the construction of a district energy plant and for the expansion of wastewater treatment and water supply systems to serve the residents of this municipality.
Ottawa has been approved for 9 low-cost housing related infrastructure loans totaling more than $25.1 to improve roads, sidewalks and paths while also upgrading wastewater and storm systems.
Toronto has been approved for 8 low-cost loans worth almost $36 million for the resurfacing and reconstruction of 111 residential roads in addition to the expansion of bicycle paths throughout a number of residential areas in that city.
Ignace has been approved for 3 low-cost loans for more than $1.4 million to resurface roadways and to install new culverts in residential neighbourhoods.
North Grenville has been approved for 1 low-cost loan for $400,000 to upgrade sections of seven different rural residential roads.
Atikokan has been approved for 1 low-cost loan for $4.5 million to upgrade residential roads while also installing new water distribution lines and storm sewers.
Champlain has been approved for 1 low-cost housing-related infrastructure loan for almost $300,000 to upgrade its wastewater treatment plant.
Centre Wellington has been approved for 1 low-cost loan for almost $2.3 million to construct a water storage reservoir and a water distribution storage tank to supply potable water to residential homes in the area.
Amherstburg has been approved for 1 low-cost loan for more than $22.5 million to upgrade and expand its wastewater treatment plant to better serve its residents.
Temiskaming Shores has been approved for 1 low-cost loan for more than $300,000 to replace a section of water main while upgrading storm and sanitary sewer systems in a number of residential areas.
Source: Canada Mortgage and Housing Corporation
The loans were provided by the Government of Canada on behalf of the Canada Mortgage and Housing Corporation through the Municipal Infrastructure Lending Program to support housing related infrastructure projects.
"Our Government understands the importance of infrastructure in maintaining strong and prosperous communities," said the Honourable John Baird, Leader of the Government in the House of Commons.
"This program is opening the door for municipalities to meet their housing- related infrastructure needs. Canada's Economic Action Plan will continue to create jobs and stimulate the local economy here in Ontario and in all corners of the country."
These low-cost loans will benefit municipalities all across the Province as they pursue their housing-related infrastructure goals and prepare for future growth.
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 through the MILP. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects.
Project Breakdown
The Regional Municipality of Niagara has been approved for 13 low-cost loans totaling more than $43.1 million to improve roads, wastewater storm systems and wastewater treatment facilities.
The Regional Municipality of York has been approved for 3 low-cost loans worth $56.3 million for the construction of a district energy plant and for the expansion of wastewater treatment and water supply systems to serve the residents of this municipality.
Ottawa has been approved for 9 low-cost housing related infrastructure loans totaling more than $25.1 to improve roads, sidewalks and paths while also upgrading wastewater and storm systems.
Toronto has been approved for 8 low-cost loans worth almost $36 million for the resurfacing and reconstruction of 111 residential roads in addition to the expansion of bicycle paths throughout a number of residential areas in that city.
Ignace has been approved for 3 low-cost loans for more than $1.4 million to resurface roadways and to install new culverts in residential neighbourhoods.
North Grenville has been approved for 1 low-cost loan for $400,000 to upgrade sections of seven different rural residential roads.
Atikokan has been approved for 1 low-cost loan for $4.5 million to upgrade residential roads while also installing new water distribution lines and storm sewers.
Champlain has been approved for 1 low-cost housing-related infrastructure loan for almost $300,000 to upgrade its wastewater treatment plant.
Centre Wellington has been approved for 1 low-cost loan for almost $2.3 million to construct a water storage reservoir and a water distribution storage tank to supply potable water to residential homes in the area.
Amherstburg has been approved for 1 low-cost loan for more than $22.5 million to upgrade and expand its wastewater treatment plant to better serve its residents.
Temiskaming Shores has been approved for 1 low-cost loan for more than $300,000 to replace a section of water main while upgrading storm and sanitary sewer systems in a number of residential areas.
Source: Canada Mortgage and Housing Corporation
