Victoria - Today, Sean Fraser, Canada's Minister of Housing, Infrastructure and Communities, Anne Kang, British Columbia's Minister of Municipal Affairs, and Trish Mandewo, President of the Union of BC Municipalities (UBCM), released a joint statement:
"Together we have finalized a new Canada Community-Building Fund (CCBF) agreement that will continue to provide predictable, long-term, and stable funding to local governments across British Columbia. The renewal of this agreement means that the critical infrastructure that supports housing will continue to be built, maintained, and expanded.
Infrastructure investments are essential to creating communities where Canadians want to live, work, and raise families. CCBF has supported safer connections over busy highways, like the Bertram Street pedestrian overpass in Kelowna, necessary replacements and upgrades to local roads in Elkford and Saanich, and initiatives that keep our communities safe and clean, like the new organics waste transfer station in Cowichan Valley Regional District and the structural flood mitigation works along Beach Avenue in Peachland.
With the deal announced today, local governments in British Columbia will receive over $300 million in CCBF funding in 2024-2025 alone. Local governments will receive over $1.6 billion over the next five years, of which $825.3 million will flow to TransLink.
Through this agreement, funding will be distributed in three streams:
- Strategic Priorities Fund: for application-based regionally beneficial projects that align with set priorities.
- Metro Vancouver Regional Fund: for regional transportation investments.
- Community Works Fund: distributed to local governments based on population and growth rate.
Upgrading municipal infrastructure that people rely on is an important part of addressing the housing crisis. Community growth needs affordable homes as well as infrastructure, such as public transit, recreation centres, and modern water and wastewater systems.
Through CCBF we will take action to invest in projects that support healthy, vibrant neighbourhoods.
We are taking a collaborative approach to building more inclusive and connected communities by creating the public infrastructure that British Columbians need."
