The Government of Canada announces on September 15th that the Town of Gander has been given approval for six infrastructure loans as part of Canada’s Economic Action Plan.
The Town of Gander has been approved for more than $2 million for low-cost loans from Canada Mortgage and Housing Corporation (CMHC) Municipal Infrastructure Lending Program (MLP) for 6 housing related infrastructure projects.
These projects include the resurfacing of Byrd Avenue, Magee Road, and Raynham Avenue. It also includes the replacement of existing sewer systems and resurfacing on Fraser Road.
There is also the installation of a new storm sewer system for Brock Crescent and construction of a new Fire Hall.
Canada’s Economic Action plan is providing up to $2 billion in direct low cost loans to municipalities, over two year for any housing related infrastructure projects through the MLP.
Eligible projects include infrastructure related housing services. A few examples of these type of services are local transportation infrastructure, such as roads, sidewalks, lighting, etc.
Municipal infrastructure loans are available to any municipality across Canada; it is able to provide a new source of funds for municipalities to invest into housing related infrastructure projects.
Jeff Markewich
Broker of Record with InfoMarket Group GMAC Real Estate
www.imgrealestate.ca
