EDMONTON, AB, Aug. 30,
2024 /CNW/ - The federal government has
transferred more than $132 million to
Alberta under the Canada
Community-Building Fund (CCBF) for the first payment of the
2024-2025 fiscal year. This will help communities across the
province invest in their local infrastructure priorities.
This is the first of two payments to Alberta for this fiscal year. The next payment
is expected to be made prior to the end of the fiscal year.
This is the first transfer through the recently renewed CCBF
agreement with the province. This agreement runs from 2024-2034,
and under it, Alberta will receive
more than $1.39 billion over the next
five years, including $265 million
this fiscal year.
CCBF provides communities with predictable and flexible funding
across 19 different project categories, including drinking water,
wastewater, public transit, and community energy systems, and helps
them develop the required infrastructure for future housing
developments.
Quotes
"To build affordable, inclusive and stronger communities, we
must continue to invest in infrastructure across the country.
Through the Canada Community-Building Fund, Albertan communities
will gain access to infrastructure projects that meet the needs of
all residents."
The Honourable Randy Boissonnault, Minister of
Employment, Workforce Development and Official Languages on
behalf of the Honourable Sean Fraser, Minister of Housing,
Infrastructure and Communities
"We are pleased that Canada Community-Building Fund payments
will soon be flowing to communities across Alberta. Predictable, stable funding for
public infrastructure is vital for all Alberta communities. Alberta's government will continue working
with federal and municipal partners to help local communities
achieve their infrastructure priorities."
The Honourable Ric McIver, Minister of Municipal Affairs
Quick facts
- 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.
- The federal government has transferred $132,573,642.50 to the Government of Alberta for the first payment of the 2024-2025
fiscal year.
- Alberta will receive more than
$1.39 billion from the CCBF over
the next five years, including $265
million for the 2024-2025 fiscal year.
- After the first five years, funding levels will be reassessed
to reflect the 2026 Census.
- Since 2015, the Government of Canada has invested $24.2 billion across Canada through CCBF, including
$2.617 billion in Alberta communities.
- The CCBF 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.
Associated links
The Canada Community-Building Fund
Canada Community-Building Fund in Alberta
Alberta – Canada
Community-Building Fund
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SOURCE Department of Housing, Infrastructure and Communities