Posted by Moishe Alexander
The Government of Canada announced today that the Town of Lourdes has been approved for an infrastructure loan as part of Canada’s Economic Action Plan.
The announcement was made by the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).
Lourdes has been approved for a low-cost loan of $60,000 from CMHC’s Municipal Infrastructure Lending Program (MILP), to renovate and convert an existing building to house the Town’s fire hall. This project involves upgrading the exterior of the building and installing two new bay doors which will enhance the community’s emergency response services.
“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Finley. “This program is opening the door for municipalities of all sizes to meet their housing-related infrastructure needs. Canada’s Economic Action Plan is creating jobs and stimulating the economy right here in Lourdes.”
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 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 for cost-shared federal infrastructure programming.
“The Town of Lourdes is pleased to secure low interest, long-term funding from the Federal Government through Canada Mortgage and Housing Corporation to assist the community in a Capital Works Projectthat will see the Fire Department relocated to a new location,” said Mayor Henry Gaudon. “This loan will allow the community to better serve its residents by providing a wheelchair accessible facility with better air quality, adequate storage for the Town fire trucks and maintenance vehicle, while also resulting in significant interest savings over the next 15 years.”
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.
