Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation
Canada's Economic Action Plan

Canada's Economic Action Plan
Government of Quebec

Government of Quebec

April 14, 2010 14:00 ET

Governments of Canada and Quebec Conclude Agreement to Help Quebec Municipalities Speed Up Investment in Housing-Related Municipal Infrastructure

QUEBEC CITY, QUEBEC--(Marketwire - April 14, 2010) - The Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Laurent Lessard, Minister of Municipal Affairs, Regions and Land Occupancy, announced today that the governments of Canada and Quebec concluded an agreement concerning the implementation in Quebec of CMHC's Municipal Infrastructure Lending Program (MILP) for housing-related infrastructure projects.

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. Under the agreement, Quebec municipalities can submit applications directly to Financement-Québec to obtain low-cost loans that can be used to finance these projects.

These low-cost loans will significantly reduce the cost of borrowing for municipalities, which can use the funds to invest directly in housing-related infrastructure projects, including eligible work performed under cost-shared federal and Quebec infrastructure programs.

"Our government understands the importance of infrastructure in maintaining strong and prosperous communities," said Minister Finley. "This program gives municipalities in Quebec access to the low-cost funding they need to move forward quickly on housing-related infrastructure projects. These projects will also stimulate job creation in communities across Canada."

"This new partnership targets the modernization and improvement of housing-related municipal infrastructure. Our government is moving forward and stepping up efforts to ensure that Quebec municipalities have modern and sustainable infrastructure—indispensable tools to take up the challenges of the future in order to enhance the quality of life ," said Minister Lessard.

Eligible municipal infrastructure projects must be related to new or existing residential areas and contribute to their effective servicing. These projects include, for example, infrastructure related to the provision of housing services, such as water, wastewater and solid waste services; power generation; local transportation infrastructure within or into residential areas, such as roads, bridges and tunnels; and residential sidewalks, lighting, pathways, landscaping and green space.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Financement-Québec is an agency of the Government of Quebec that offers financing to Quebec's parapublic entities, such as school boards, CEGEPs, universities, hospitals and municipalities.

Project proposals will be accepted until all available funds are committed. All loans must be fully advanced no later than March 31, 2011, and construction work must be started on or after January 27, 2009 and be completed by March 31, 2012. Interested municipalities can apply online by visiting the Financement-Québec website at http://www.ptrim.finances.gouv.qc.ca.

Contact Information

  • Office of Minister Finley
    Michelle Bakos
    Press Secretary
    819-994-2482
    or
    Office of Minister Lessard
    Sylvain Bourassa
    Press Secretary
    418-691-2050
    or
    CMHC Quebec Business Centre
    Communications and Marketing
    Sophie Dupuis
    514-283-4489