Governments of Canada and Alberta announce the renewal of the Canada Community-Building Fund for the next ten years

EDMONTON, AB, July 19, 2024 /CNW/ - The Governments of Canada and Alberta have signed a renewed ten-year agreement for the Canada Community-Building Fund (CCBF). Under this agreement, Alberta will receive more than $1.3 billion over the first five years to provide predictable, long-term, and stable funding to communities across the province.

The renewal of this agreement means that the critical infrastructure that supports housing will continue to be built, maintained, and expanded.

CCBF has supported major infrastructure projects in Alberta including the widening and reconstruction of Township Road 232 in Rocky View County, upgrading of Lockhart Road in Lacombe County, the construction of a multi-use recreational facility for the Town of Coaldale, and the replacement of a deteriorated and unsafe bridge at Gift Lake Metis Settlement on Township Road 794A. Also, since 2015, CCBF has supported more than 1,400 road and highway infrastructure projects across the province, totalling over $749 million.

This renewed agreement, developed in collaboration with the Government of Alberta, will support growth of Albertan communities by taking a holistic approach and tying infrastructure investments – such as public transit, recreation centers, water and wastewater systems – to housing needs where appropriate.

Over the next ten years, communities across Canada will receive $26.7 billion in funding through the renewal of the CCBF agreements to support new infrastructure and priorities for housing development and affordability.

Quotes

"Investments in infrastructure are essential in supporting affordable and inclusive communities for all Canadians. We are proud to announce this deal that will provide communities across Alberta with flexibility to invest in their local needs."

The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities 

"Alberta communities rely on predictable, stable funding from all levels of government. We have worked with our federal partners to ensure CCBF funding continues to meet the ongoing needs of municipalities and Metis Settlements. This flexible funding program will enable Alberta communities to achieve their local infrastructure priorities, and help to address housing challenges with support for local roads and waterlines for housing projects."

Ric McIver, Alberta Minister of Municipal Affairs

Quick facts

• Across Canada, 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.
• Between 2014-2024, the CCBF invested more than $2.4 billion a year across Canada to over 3600 communities through 19 different project categories that include public transit, highways, local roads and bridges, recreation, community energy systems and water infrastructure.
• Over the first five years of the agreement, Alberta will receive over $1.3 billion, including more than $265.1 million in the 2024-25 fiscal year.
• The CCBF supports infrastructure projects that help bolster housing supply. It 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.
• The renewed CCBF ties access to funding to actions by provinces, territories, and municipalities to increase Canada's housing supply.

Associated links

The Canada Community-Building Fund
https://housing-infrastructure.canada.ca/ccbf-fdcc/index-eng.html#pts 

Canada Community-Building Fund in Alberta
https://housing-infrastructure.canada.ca/ccbf-fdcc/pt/ab-eng.html

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SOURCE Department of Housing, Infrastructure and Communities

Contacts: For more information (media only), please contact: Micaal Ahmed, Communications Manager, Office of the Minister of Housing, Infrastructure and Communities, 343-598-3920, [email protected]; Media Relations, Housing, Infrastructure and Communities Canada, 613-960-9251, Toll free: 1-877-250-7154, Email: [email protected]; Heather Jenkins, Press Secretary, Municipal Affairs, Government of Alberta, 780-245-0421, [email protected]