The federal government’s New Building Canada fund has been launched and is seeking applications, says Kootenay Columbia MP David Wilks.
In a statement released on Saturday, March 29, he said the program was unveiled by Denis Lebel, minister responsible for Infrastructure Communities and Intergovernmental Affairs.
The New Building Canada Fund, a key element of the $53 billion New Building Canada Plan, supports infrastructure projects of national, regional and local significance that promote job creation, economic growth, and productivity. It is the largest and longest federal infrastructure plan in our nation’s history, Wilks said in the statement. The program launch means provinces, territories and municipalities may now apply for funding under the program.
“The Build Canada Fund will benefit municipalities, post-secondary institutions, not-for-profit and for-profit groups,” he said. “I encourage everyone to examine the opportunities available. At the following link, you will find our revamped website and all relevant information on how to apply for each program under the fund: http://www.infrastructure.gc.ca/plan/plan-eng.html.”
Here are some quick facts about the program:
- Under the $53 billion New Building Canada Plan, provinces, territories and municipalities will continue to have access to federal support for their infrastructure project priorities over the next decade. They will benefit from investments made through:
- The $4 billion National Infrastructure Component and the $10 billion Provincial-Territorial Infrastructure Component which will support national, regional and local projects, including the Small Communities Fund for projects in communities with fewer than 100,000 residents.
- The Community Improvement Fund, consisting of the Gas Tax Fund ($21.8 billion) and the incremental Goods and Services Tax Rebate for Municipalities ($10.4 billion), which will provide over $32 billion to municipalities for community infrastructure.
- The $1.25 billion in funding for the P3 (Public-Private Partnerships) Canada Fund.
- $6 billion in existing funding that continues to flow across the country this year and beyond under current infrastructure programs.