Three levels of government say they’ve finalized a deal that will provide more than $1.6 billion in federal funding over the next five years to communities in British Columbia, in order to build and maintain “critical infrastructure.”
Under the Canada Community-Building Fund deal, local governments in B.C. will receive $300 million in federal infrastructure funding in 2024-2025.
The deal was jointly announced by federal Minister of Housing, Infrastructure and Communities Sean Fraser, B.C.’s Minister of Municipal Affairs Anne Kang and Trish Mandewo, president of the Union of B.C. Municipalities.
Their statement says upgrading municipal infrastructure — such as public transit, recreation centres and water and waste systems — is an important part of addressing the housing crisis.
Projects previously supported by the fund include upgrades to highways and local roads, flood mitigation and organic waste transfer facilities.
The statement also says more than $825 million, representing about half of the five-year total, will go to TransLink, Metro Vancouver’s transit authority.
TransLink spokesperson Tina Lovgreen said, however, that the funds will not solve an imminent funding shortfall. Last week, the transit authority announced a cost-cutting plan to partially address an expected annual shortfall of more than $600 million starting at the end of 2025.
Lovgreen said the deal is a renewal of the Gas Tax fund, which provided around $165 million to TransLink each year for initiatives like replacing buses. She noted that the authority’s financial forecasting had assumed the federal funds would continue.
“TransLink continues to work with senior government partners to secure a new funding model that meets the growing needs of this region,” she said in a statement.