Canada's Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, through Canada Mortgage and Housing Corporation (CMHC) for housing-related infrastructure projects in towns and cities across the country. There will be a focus on funding projects that are shovel-ready, as this is a targeted, short-term, temporary measure intended to create jobs. The types of eligible projects include sewers, water lines and neighbourhood regeneration projects. These low-cost loans will significantly decrease the cost of borrowing for municipalities, and can be used by them to fund their contribution for cost-shared federal infrastructure programming.
Monday, June 08, 2009
Helping Municipalities Build Stronger Communities
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