A federal initiative that is meant to allow municipal governments and other institutions to apply for infrastructure funding is ahead of schedule, according to the federal government.
The New Building Canada Fund is a $14 billion part of the 10-year New Building Canada Plan.
Kootenay Columbia MP David Wilks said the fund will benefit the communities of the region.
“The Build Canada Fund will benefit municipalities, post-secondary institutions, not-for-profit and for-profit groups,” said Wilks. “I encourage everyone to examine the opportunities available.”
The Plan is divided into three components, the $4 billion National Infrastructure Component, the $9 billion Provincial-Territorial Infrastructure Component and the $1 billion Small Communities Fund. They will be run over a 10-year term.
The National Infrastructure Component is meant for national, regional and local projects and is open for applications from provincial, territorial and municipal applicants.
The Provincial-Territorial Infrastructure Component will be dedicated to provincial, territorial and municipal infrastructure projects with a significant national or regional impact.
The Small Communities Fund will be negotiated with each province and territory through Infrastructure Canada.
Minister Denis Lebel, responsible for Infrastructure Communities and Intergovernmental Affairs, said that the entire New Building Canada Plan is now “open for business.”
Lebel said the fund, a key element of the $53 billion New Building Canada Plan, supports infrastructure projects of national, regional and local significance that promote job creation, economic growth and productivity.
He said provinces, territories and municipalities may now apply for funding.