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Infrastructure Stimulus Program
16 October 2009
Toronto, Ontario
Through Canada’s Economic Action Plan, the federal government has established a new $4-billion Infrastructure Stimulus Fund that provides funding to provincial, territorial and municipal construction-ready infrastructure rehabilitation projects. Funding is available for two years for projects that can be substantially completed by March 2011.
About the Infrastructure Stimulus Program
The Infrastructure Stimulus Fund complements existing federal infrastructure funding by focusing on short-term objectives for economic stimulus. To further this goal of rapid economic stimulus, the Infrastructure Stimulus Fund will focus on construction-readiness as an important project selection criterion. The full $4 billion will be distributed in fiscal years 2009-2010 and 2010-2011. Projects will focus largely on the rehabilitation of existing assets such as water, wastewater, public transit, highways, roads, culture, parks and trails.
For provincial assets, the federal and provincial governments will each contribute up to fifty per cent of eligible costs. For municipal projects, the federal and provincial governments will contribute up to two-thirds of eligible costs, with municipalities expected to contribute one-third.
Infrastructure Stimulus Fund in Toronto
On October 16, 2009, the Government of Canada and City of Toronto announced a total combined Canada-Toronto Public Library Foundation investment of $9 million for the revitalization of the Toronto Reference Library to benefit researchers in the GTA. Planned renovations include a complete transformation of the library's main floor and exterior, an expanded public gallery space, a dynamic Glass Entrance Cube, a new, two-storey rotunda, new energy conservation measures, more event space and additional computer workstations.
On September 11, 2009, the Government of Canada and City of Toronto announced a total combined Canada-Toronto investment of more than a half-billion dollars for more than 500 community infrastructure projects identified as priorities for the City and that will create jobs and help build a stronger community.
