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.

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.

to the Government of 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.

will receive more than from the CCBF over the next five years, including 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.

has invested across through CCBF, including in 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

View original content: http://www.newswire.ca/en/releases/archive/August2024/30/c7641.html

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