Municipalities can begin applying for direct, low-cost loans for shovel-ready infrastructure projects through the Canada Mortgage and Housing Corporation (CMHC), the feds announced yesterday.
Under the federal Economic Action Plan, $2 billion in direct low-cost loans is being provided to municipalities over two years for housing-related infrastructure projects.
Eligible municipal infrastructure projects must directly relate to housing, contributing to the efficient functioning of residential areas, such as water, wastewater and solid waste services, power generation; local transportation infrastructure within or into residential areas such as roads, bridges and tunnels; residential sidewalks, lighting, pathways, landscaping and green space.
