UBCM, the Province of B.C. and the federal government are pleased to announce that a new administrative agreement has been signed to renew the delivery of the Canada Community-Building Fund (CCBF) for the next 10 years. The longstanding infrastructure program will deliver approximately $3.5 billion to B.C.’s local governments over this period, including $1.7 billion for transit investments in Metro Vancouver.
The completion of the renewed agreement follows a year-long negotiation involving Canada, BC and UBCM.
The CCBF will continue to be delivered through three established funding streams: the Community Works Fund, the Metro Vancouver Regional Fund and the Strategic Priorities Fund.
Local governments will be able to use funding delivered through these streams for a range of eligible infrastructure projects and will be required to report on how these projects meet the CCBF’s national objectives (productivity and economic growth; a clean environment, and building strong communities).
Changes to the renewed program include expanding eligible project categories to include community resilience projects, fire truck purchases, and planning initiatives that support housing.
The renewed program emphasizes supporting housing creation and affordability, aligned with recent provincial legislation. The CCBF will also promote the identification and investment in infrastructure that addresses housing pressures in communities, where it makes sense to do so.
UBCM will be contacting local governments in the coming weeks with information packages and funding agreements. The first payment under the renewed agreement is expected later this summer.