New government funding now available for transit infrastructure in the Bow Valley

BANFF, AB, April 6, 2018 /CNW/ - The governments of Canada and Alberta are making long-term infrastructure investments that will create economic growth and middle-class jobs while supporting inclusive communities and a low-carbon green economy?leading to a higher quality of life for all Canadians.

On April 3, 2018, the Honourable Amarjeet Sohi, Minister of Infrastructure and Communities, and the Honourable Sandra Jansen, Alberta Minister of Infrastructure, announced the signing of a bilateral agreement that will provide more than $3.3 billion in federal funding over the next decade through the Investing in Canada plan for infrastructure projects. The projects supported through this agreement will be cost-shared with the Alberta government, municipalities and other partners.

This new funding will see the governments of Canada and Alberta make unprecedented investments in public transit, green infrastructure, recreational, cultural, and community infrastructure, as well as rural and northern communities.

Under the public transit stream, the towns of Banff and Canmore will receive up to $6,865,504 in federal funding for significant improvements to the area's transit system.

Altogether, these investments will make a positive difference in communities, resulting in the better movement of people and goods, cleaner air and water, and smarter more efficient cities.

Quotes

"Modern efficient public transit infrastructure plays a key role in building strong communities where everyone has the opportunity to succeed. I am very pleased that the towns of Banff and Canmore will be able to improve their transit services thanks to this new funding agreement with Alberta. We are working closely with our provincial, municipal and Indigenous partners to deliver real support through transformative projects that will benefit residents across the province for years to come."

The Honourable Amarjeet Sohi, Minister of Infrastructure and Communities

"With this historic infrastructure agreement, we're giving all communities the chance to partner with their provincial and federal governments to invest in projects that are most important to them. I look forward to hearing some innovative ideas for these transit dollars that will support local jobs, stimulate the regional economy and benefit Alberta businesses and families for years to come."

The Honourable Sandra Jansen, Minister of Alberta Infrastructure

Quick facts

• Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada's rural and northern communities.
• Under the first phase of the plan, Infrastructure Canada has approved nearly 3,500 projects across Canada worth a combined investment of more than $8.4 billion, including projects worth more than $1.1 billion in Alberta.
• As part of the Plan, Infrastructure Canada will deliver $33 billion over the next decade through new bilateral agreements with provinces and territories under four funding streams:
• $20.1 billion for public transit;
• $9.2 billion for green infrastructure;
• $1.3 billion for community, cultural and recreational infrastructure; and
• $2 billion for wide-ranging infrastructure needs in rural and northern communities.
• The federal cost-share under the rural and northern infrastructure stream was increased from 50% to 60% on February 16, 2018. With this increase, provincial communities with fewer than 5000 residents will be eligible to receive a higher proportion of federal funding to address their unique infrastructure needs. Indigenous communities in the provinces will be eligible for a federal cost share of up to 75%.
• Six new long-term infrastructure agreements have now been signed between the Government of Canada and provincial and territorial partners.

Associated links

Government of Canada's $180-billion+ Investing in Canada plan: http://www.infrastructure.gc.ca/plan/about-invest-apropos-eng.html

Investing in Canada plan project map: http://www.infrastructure.gc.ca/gmap-gcarte/index-eng.html

Federal infrastructure investments in Alberta: http://www.infrastructure.gc.ca/map-carte/ab-eng.html

Government of Alberta's ICIP Portal: http://www.alberta.ca/ICIP

Twitter: @INFC_eng

Web: Infrastructure Canada

SOURCE Infrastructure Canada