Successful bids could garner up to $47.5 million in funding for Guelph
Guelph, Ont., June 1, 2016 – Council, on Monday evening, agreed to the list of projects recommended for federal infrastructure funding and directed City staff to move forward with Guelph’s applications.
Of the 47 projects initially presented to Council in February, 12 were prioritized based on compatibility with the federal government’s first phase of funding opportunities that were announced in March.
“We recognize the stakes are high for these rare funding opportunities and have strategically identified Guelph’s projects that best align with the available federal funds,” said Scott Stewart, Deputy CAO of Infrastructure, Development and Enterprise Services.
If successful, the City anticipates its portion of the $60.9 million total cost for the twelve projects to be $15.7 million. Reserve funds will be used to pay for the majority—$13.6 million—of the City’s portion and debt will fund the remaining $2.1 million.
The projects that require the greatest financial investment include $18 million to extend Silvercreek Parkway over the existing railway tracks; $14.7 million for the lifecycle replacement of 32 Guelph Transit buses and vehicles; and $5.1 million to remediate 13 acres of brownfield at 200 Beverley Street that could be used for affordable housing.
Guelph will apply for funding from both new and existing available federal funds, which may include: Public Transit Infrastructure Fund; Clean Water Wastewater Fund; New Building Canada Fund; Canada Cultural Spaces Fund; and Regional Development Agencies.
The federal and provincial governments are developing infrastructure agreements to determine the cost sharing details and eligibility criteria for the announced infrastructure funding. As this information is made available, City staff will report back to Council and start developing business cases for early submission of Guelph’s applications.
“This fall the federal government plans to consult on the second phase of its infrastructure program—Guelph is well-prepared to take part in these discussions if presented the opportunity,” added Mr. Stewart.
Phase 2 funding details are expected following the release of next year’s federal budget.
For more information
Deputy CAO, Infrastructure, Development and Enterprise Services
519-822-1260 extension 3445