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Canada’s Economic Action Plan Delivers Housing-Related Infrastructure Loan for the Township of Cramahe

Posted by Moishe Alexander
The Government of Canada announced today that the Township of Cramahe has been approved for an infrastructure loan as part of Canada’s Economic Action Plan.

The announcement was made by the Rick Norlock, Member of Parliament for Northumberland – Quinte West, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

The Township of Cramahe has been approved for more than $1.3 million in a low-cost loan from CMHC’s Municipal Infrastructure Lending Program (MILP) for the expansion of the existing wastewater treatment system in the community of Colborne.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said MP Norlock. “This program is opening the door for municipalities of all sizes to meet their housing-related infrastructure needs and create jobs. It’s good news not only for the Township of Cramahe and the Village of Colborne, but also for Ontario.”

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 will 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 to cost-shared federal infrastructure programming.

“Receiving financing from CMHC for the Colborne Wastewater Treatment Plant upgrades is an extremely important part of the success and implementation of this project in that it provides an affordable option for the municipality to contribute our 1/3 of the $6.3 million dollar project,” stated Marc Coombs, Mayor of Cramahe Township. “The upgrades to the plant will ensure the future sustainability of the Township of Cramahe as a strong community, with a clean and healthy environment and a strong economy.”

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.

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.