Ottawa and New Brunswick have signed a renewed agreement for the Canada Community-Building Fund.
This deal will help communities address their infrastructure needs, plan ahead, and back projects that support new homes.
New Brunswick will receive nearly $255 million during the first half of the 10-year agreement, the feds announced on Friday.
“This money will allow our government to make meaningful investments that make life better for New Brunswickers,” Premier Blaine Higgs said in a news release.
“Whether it is housing, roads or fire stations, these are funds that allow us to keep building.”
Through the fund, money is provided to provinces and territories, who then give it to communities for projects under 19 eligible categories.
They include local roads, highways and bridges; regional and local airports; drinking water; wastewater infrastructure; solid waste management; community energy systems; recreation; culture; tourism; and fire halls.
The fund will also support housing through infrastructure projects that align with local needs.
In fact, the renewed agreement ties access to funding to actions by provinces and municipalities to increase the housing supply.
“Investments in infrastructure are essential in supporting affordable and inclusive communities for all Canadians,” said federal Housing, Infrastructure and Communities Minister Sean Fraser.
