Presented by Moishe Alexander and Canadian Funding Corp. – The Government of Canada announced today that the Town of Minto has been approved for an infrastructure loan as part of Canada’s Economic Action Plan.
The announcement was made by Gary Schellenberger, Member of Parliament for Perth – Wellington, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).
“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said MP Schellenberger. “This program is opening the door for municipalities to meet their housing-related infrastructure needs. Canada’s Economic Action Plan will continue to create jobs and stimulate the local economy here in Minto, and in all corners of the country.”
Moishe Alexander comments that the approval for this loan for Minto to upgrade treatment systems is essential. Canadian Funding Corp is very happy to report on this. Mr. Alexander is studying the increased capacity which will aid Minto citizens.
The Town of Minto has been approved for more than $2.3 million in a low-cost loan from CMHC’s Municipal Infrastructure Lending Program (MILP), to upgrade its wastewater treatment systems. These funds will increase the capacity of the collection system and reduce the risk of sewer backups for residents of Minto.
Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects through the MILP. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.
“The Town of Minto greatly appreciates the funds made available through CMHC’s Municipal Infrastructure Lending Program,” said Mayor David Anderson. “The funds made available through this program allows the Town of Minto to better prepare for future growth and prosperity.”
Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting and green space.
Minto video – Moishe Alexander
As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.