Province Expands Infrastructure Ontario's Loan Program



    Arts Training Institutes, Local Services Boards and Housing Providers now
    eligible

    TORONTO, Aug. 8 /CNW/ - The McGuinty government is expanding
Infrastructure Ontario's highly successful OSIFA Loan Program to provide
financing to not-for-profit professional arts training institutions, Local
Services Boards and social and affordable housing providers.
    "This move supports a number of our government's priorities, including
building healthy and vibrant communities and ensuring every Ontarian has the
opportunity to succeed," said George Smitherman, Deputy Premier and Minister
of Energy and Infrastructure. "It includes potential affordable loans to such
diverse groups as those involved in dance, music, media and film as well as
organizations providing municipal-level services such as water, street
lighting and library services."
    Added Minister of Culture Aileen Carroll, "This announcement is one of
the many ways that our government is supporting Ontario's artists and arts
organizations. The availability of low-cost loans to arts training
organizations will have a significant impact on their capacity to make capital
investments in their facilities."
    Not-for-profit professional arts training institutions are organizations
incorporated as not-for-profits that provide professional arts training in
areas such as dance, music and film.
    "These professional arts training organizations will be able to save
substantially on the interest when they borrow for the purpose of investing in
their buildings," said John Brotman, Ontario Arts Council Executive Director.
    "This expansion is great news for communities like ours," added
Gerry Talbot, board member of the Gogama Local Services Board. Contracted by
the Government of Ontario, Local Services Boards provide municipal-level
services to communities which are not part of an incorporated municipality.
    Applications are currently being accepted for LSB's and Arts Training
Institutes at www.infrastructureontario.ca. Infrastructure Ontario is
currently consulting with the housing sector to determine how the program can
best address their needs. Housing providers will be able to submit
applications shortly, once program details have been finalized.
    Infrastructure Ontario's OSIFA Loan Program is one of the approaches that
the government is using to renew Ontario's public infrastructure. With more
than 165 public sector clients, IO has approved over $2 billion in loans, of
which more than $1.7 billion has been advanced. For further information,
please visit www.infrastructureontario.ca or call toll-free 1-800-230-0937.

    Disponible en français


    Backgrounder

    
           SOCIAL HOUSING PROVIDERS, LOCAL SERVICES BOARDS AND ARTS
              INSTITUTES ELIGIBLE TO APPLY FOR AFFORDABLE LOANS

    Affordable Loan Program Broadened

    In the 2008 Ontario Budget, the McGuinty government announced its
intention to expand Infrastructure Ontario's highly successful OSIFA Loan
Program to provide affordable financing to new sectors including:

    -   Local Services Boards
    -   Not-for-profit professional arts training facilities
    -   Not-for-profit and co-operative social and affordable housing
        providers
    

    Local Services Boards and Not-for-profit professional arts training
facilities will be able to submit applications immediately. Infrastructure
Ontario is currently consulting with the Housing sector to see how the program
can best meet the sector's needs.
    The professional arts training institutions eligible are organizations
incorporated as Not-for-profit that provide professional arts training in
areas such as dance, music, media arts and film.
    Local Services Boards are organizations contracted by the Government of
Ontario to provide municipal-level services in a community which is not part
of an incorporated municipality. Depending on the community, this may include
water, sewage, street lighting, garbage collection, recreational, fire
department, library and/or emergency telecommunications services. Most LSB's
are located in northern Ontario.

    New Borrowers Eligible

    This latest expansion of the loan program supports a number of government
policy priorities, including building healthy and vibrant communities, and
ensuring every Ontarian has the opportunity to succeed.
    By broadening loan eligibility to include these new sectors, the program
will strengthen their capacity to finance and build new infrastructure
projects and improve the delivery of these critical public services.

    Examples of eligible Not-for-profit professional arts training facilities
    include:

    
    -   National Ballet School
    -   School of Toronto Dance Theatre
    -   The Canadian Film Centre
    -   Royal Conservatory of Music
    -   Canadian Opera Company Ensemble Studio
    -   National Academy Orchestra/Brott Music Festival
    -   The School of Dance (Ottawa)
    -   Quinte Ballet School of Canada
    -   Toronto International Film Festival Group
    

    Over 165 Clients with More than 650 Projects

    Infrastructure Ontario's OSIFA Loan Program is one of the approaches that
the government is using to renew Ontario's public infrastructure. To date,
Infrastructure Ontario has advanced more than $1.7 billion to provide support
to more than 650 infrastructure projects around the province.
    To check current lending rates or for further information, please visit
Infrastructure Ontario's website at www.infrastructureontario.ca, or call
toll-free 1-800-230-0937.

    Infrastructure Ontario's OSIFA Loan Program

    Infrastructure Ontario's OSIFA Loan Program also provides Ontario
municipalities, universities, not-for-profit long-term care homes and
municipal corporations with access to affordable loans to build and renew
local public infrastructure. The loan program is an innovative financing
vehicle created to help Ontario universities, municipalities and other broader
public sector partners renew and build critical public infrastructure.
Renewing Ontario's public infrastructure contributes to improving the quality
of public services and building strong and prosperous communities.
    Infrastructure Ontario is a Crown corporation dedicated to the renewal of
the province's hospitals, courthouses and other key public assets. Ensuring
appropriate public control and ownership, Infrastructure Ontario uses
alternative financing and procurement to rebuild vital infrastructure, on time
and on budget.
    Infrastructure Ontario is also dedicated to providing project finance
solutions and support services to broader public sector clients and assisting
them with the efficient delivery of essential infrastructure projects. Our
infrastructure development solutions, including the OSIFA Loan Program, are
tailored to meet the unique needs and complex development challenges of
municipalities, universities and other public infrastructure providers.

    Disponible en français

    
                             www.ontario.ca/pir
                         www.infrastructureontario.ca
    





For further information:

For further information: Amy Tang, Minister's Office, Ministry of Energy
and Infrastructure, (416) 327-6747; Alicia Johnston, Minister's Office,
Ministry of Culture, (416) 325-1676; Doug DeRabbie, Infrastructure Ontario,
(416) 326-1006


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890