Thu. Oct 24th, 2024

$24 Million Federal Boost for New Brunswick Infrastructure

New Brunswick communities are set to receive a substantial injection of federal funding, with more than $24 million already transferred under the Canada Community-Building Fund (CCBF). The payment marks the first installment for the 2024-2025 fiscal year, with a second disbursement expected later this year. The funds are aimed at supporting vital infrastructure projects across the province, from enhancing public transit systems to upgrading water treatment facilities.

The $24 million transfer is part of a broader agreement between the federal government and New Brunswick, one that was recently renewed to ensure ongoing support through to 2034. Over the next five years, New Brunswick is slated to receive more than $254 million under this agreement, with $48 million earmarked for the current fiscal year alone. The funds are designed to provide communities with the financial stability needed to plan and execute long-term infrastructure projects.

Federal Minister of Public Safety Dominic LeBlanc, speaking on behalf of Minister of Housing and Infrastructure Sean Fraser, emphasized the significance of these investments. “Whether it’s building a new fire hall, upgrading a water treatment plant, or adding new amenities at a local park, the Canada-Community Building Fund is making a positive impact across New Brunswick. This funding is a testament to our government’s commitment to working closely with local communities to address their needs.”

The CCBF is a versatile tool for local governments, covering a wide range of infrastructure needs across 19 categories, including drinking water, wastewater management, public transit, and community energy systems. The flexibility of the fund allows municipalities to prioritize projects that address their most pressing concerns, whether that’s improving public safety, enhancing environmental sustainability, or expanding housing capacity.

New Brunswick’s Local Government Minister, Glen Savoie, highlighted the fund’s role in aligning federal support with provincial priorities. “The Canada Community-Building Fund is crucial for building and revitalizing infrastructure that meets the needs of our communities. By focusing on economic growth, environmental stewardship, and housing affordability, we’re ensuring that our towns and cities can thrive.”

The Canada Community-Building Fund has been a cornerstone of infrastructure financing in New Brunswick since 2005. With the renewal of the fund, the federal government has committed $26.7 billion over the next decade to support projects across the country. Since 2015, New Brunswick alone has received more than $508 million from the CCBF, enabling the completion of numerous projects that have improved the quality of life for residents.

The fund operates on a reliable, biannual payment schedule, providing provinces and territories with a steady stream of resources to address their infrastructure needs. As part of the renewed agreement, the funding allocation will be reassessed after five years, based on data from the 2026 Census, ensuring that the distribution remains responsive to demographic and economic changes.

For New Brunswick, the arrival of this $24 million marks the beginning of another cycle of critical infrastructure improvements. The projects, whether they involve upgrading public transit or enhancing community facilities, are expected to have a lasting impact on the province’s residents.

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