Yesterday, the Association of Municipalities of Ontario welcomed the signing of the Communities Component of the Building Canada Fund, which will flow more than $724 million in infrastructure funding to rural and small urban municipalities across Ontario.

Under the agreement, the federal and provincial governments will each provide $362 million over seven years to support community infrastructure investment in Ontario municipalities that have less than 100,000 residents. Receiving municipalities will match the funds.

Funding applications will be available to Ontario municipalities on September 12, 2008, and they’ll be reviewed by a joint federal-provincial secretariat. Smaller Ontario municipalities are able to seek funding through a competitive process for 17 categories of infrastructure. Eligible projects must relate to drinking and wastewater systems, public transit, green energy, disaster mitigation, solid waste management, culture, sport, connectivity, local roads and core national highways, short-sea shipping and shortline rail, local and regional airports, tourism or brownfield redevelopment.

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