Whereas local governments are required to provide drinking water services and most supply irrigation for agriculture to their communities and BC faces real threats to the health, security and supply of water to our rapidly growing communities over the next decade and beyond, and all BC municipalities have high growth targets to achieve; And whereas the 100 million announced in the BC 2023 budget to kickstart support for watershed security is insufficient to ensure adequate restoration and long-term security for drinking water, cultural heritage values, and agriculture needs: Therefore be it resolved that UBCM requests the Province of BC build on their initial investment in the BC Watershed Security Fund to create a dedicated, sustainable, annual funding source that provides 100 million annually for community-driven watershed security initiatives.
Ministry of Water, Land and Resource Stewardship Healthy watersheds are foundational to our communities and industries. Water is essential for a strong economy, vibrant and healthy people, agriculture security, to generate clean electricity, and sustain diverse ecosystems. A 100 million provincial contribution seeded the Watershed Security Fund the Fund. Its generated earnings and dividends provide a dependable flow of annual funding for grants, programs and operational investments to improve outcomes for watersheds. Investment yields from the Fund are expected to amount to 3 to 5 million per year depending on interest rates. We recognize the need for watershed work across the province exceeds current funding availability. In the first Fund grant intake 133 projects were submitted with a combined ask of 33 million and 26 projects were approved for just under 5 million in October 2024. The results of the second grant intake will be announced in Spring 2025 and a similar number of projects are likely to be approved. The Province will continue to work with our partners to leverage the original investment and to grow the Fund. The Province has committed to several funding initiatives to decrease flood risks in the Lower Mainland and improve BCs ability to manage water resources during times of water scarcity. Initiatives include increased funding for the Agricultural Water Infrastructure Program, water metering, and replacement of the Cowichan Lake weir. The Agricultural Water Infrastructure Program supports on-farm and community-scale water projects. It was launched in June 2023 with 20 million in cost-shared funding and expanded with an additional 80 million in March 2024. The Beneficial Management Practices program also provides cost-share funding for on-farm water infrastructure projects helping producers use water more efficiently. Both the Ministry of Municipal Affairs Infrastructure Planning Grant Program and the Asset Management Planning Grant Program administered by Union of British Columbian Municipalities can assist local governments in strengthening asset management practices and preparing for future capital programs that support drinking water services in their communities.