EDMONTON, AB, July 19,
2024 /CNW/ - The Governments of Canada and Alberta have signed a renewed
ten-year agreement for the Canada Community-Building Fund (CCBF).
Under this agreement, Alberta will receive more than $1.3 billion over the first five years to provide
predictable, long-term, and stable funding to communities across
the province.
The renewal of this agreement means that the critical
infrastructure that supports housing will continue to be built,
maintained, and expanded.
CCBF has supported major infrastructure projects in Alberta including the widening and
reconstruction of Township Road 232 in Rocky View County, upgrading
of Lockhart Road in Lacombe County, the construction of a multi-use
recreational facility for the Town of
Coaldale, and the replacement of a deteriorated and unsafe
bridge at Gift Lake Metis Settlement on Township Road 794A. Also,
since 2015, CCBF has supported more than 1,400 road and highway
infrastructure projects across the province, totalling over
$749 million.
This renewed agreement, developed in collaboration with the
Government of Alberta, will support growth of Albertan communities
by taking a holistic approach and tying infrastructure investments
– such as public transit, recreation centers, water and wastewater
systems – to housing needs where appropriate.
Over the next ten years, communities across Canada will receive $26.7 billion in funding through the renewal of
the CCBF agreements to support new infrastructure and priorities
for housing development and affordability.
Quotes
"Investments in infrastructure are essential in supporting
affordable and inclusive communities for all Canadians. We are
proud to announce this deal that will provide
communities across Alberta with flexibility to invest in their
local needs."
The Honourable Sean Fraser, Minister of Housing,
Infrastructure and Communities
"Alberta communities rely on predictable, stable funding from
all levels of government. We have worked with our federal partners
to ensure CCBF funding continues to meet the ongoing needs of
municipalities and Metis Settlements. This flexible funding program
will enable Alberta communities to achieve their local
infrastructure priorities, and help to address housing challenges
with support for local roads and waterlines for housing
projects."
Ric McIver, Alberta Minister of Municipal Affairs
Quick facts
- Across Canada, the federal
government is renewing the Canada Community-Building Fund (CCBF)
and is investing $26.7 billion over
the next ten years (2024-2034) to support core infrastructure
projects.
- Between 2014-2024, the CCBF invested more than $2.4 billion a year across Canada to over 3600 communities through 19
different project categories that include public transit, highways,
local roads and bridges, recreation, community energy systems and
water infrastructure.
- Over the first five years of the agreement, Alberta will
receive over $1.3 billion, including
more than $265.1 million in the
2024-25 fiscal year.
- The CCBF supports infrastructure projects that help bolster
housing supply. It is a permanent, indexed source of funding
provided up front, twice a year, to provinces and territories, who
in turn flow this funding to local governments and other entities
to support local infrastructure priorities.
- The renewed CCBF ties access to funding to actions by
provinces, territories, and municipalities to increase Canada's housing supply.
Associated links
The Canada Community-Building Fund
https://housing-infrastructure.canada.ca/ccbf-fdcc/index-eng.html#pts
Canada Community-Building Fund in Alberta
https://housing-infrastructure.canada.ca/ccbf-fdcc/pt/ab-eng.html
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SOURCE Department of Housing, Infrastructure and Communities