Federal government transfers more than $447 million through the Canada Community-Building Fund to Ontario

OTTAWA, ON, Aug. 16, 2024 /CNW/ - The federal government has transferred more than $447 million to Ontario 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 Ontario 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 Ontario will receive more than $4.7 billion over the next five years, including $895 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

"Investments in infrastructure are essential in building more affordable, inclusive, and stronger communities for all Canadians. With this payment through the Canada Community-Building Fund, communities in Ontario will be able to invest in infrastructure projects that meet the needs of their residents today, and ones that support more housing supply for the future."

The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"Ontario will continue to work with all partners, to address the unprecedented growth the province has seen and support our municipalities in responding to the unique local challenges they each face. It takes all levels of government to tackle the housing supply crisis and help build stronger communities."

The Honourable Paul Calandra, Minister of Municipal Affairs and Housing

"The renegotiated agreement for the Canada Community-Building Fund means Ontario's municipalities will continue to receive reliable, stable and permanent funding to invest in priority projects that support the growth and vitality of their communities," said AMO President Colin Best. "AMO is proud to administer the Fund in Ontario on behalf of the federal government, flowing crucial infrastructure dollars to municipal governments that have a direct local benefit." 

Colin Best, President, Association of Municipalities of Ontario

"This funding helps Toronto build the critical infrastructure we need, and enables us to build more homes and better neighbourhoods for people. I look forward to continued partnership with the Government of Canada as we build stronger communities here in Toronto."

Olivia Chow, Mayor of Toronto

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 $358,355,127.50 to Association of Municipalities of Ontario, $88,296,371.50 to the City of Toronto, and $1,088,649.50 to the Government of Ontario for the first payment of the 2024-2025 fiscal year.
• Ontario will receive more than $4.7 billion from the CCBF over the next five years, including more than $895 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 $9 billion in Ontario 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 Ontario

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SOURCE Department of Housing, Infrastructure and Communities

Contacts: For more information (media only), please contact: Micaal Ahmed, Communications Manager, Office of the Minister of Housing, Infrastructure and Communities, 343-598-3920, [email protected]; Media Relations: Housing, Infrastructure and Communities Canada, 613-960-9251, Toll free: 1-877-250-7154, Email: [email protected]