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Canada's Economic Action Plan Delivers Housing-Related Infrastructure Loan for Whitehorse

WHITEHORSE, Yukon, September 25, 2009 — The Government of Canada announced today that the City of Whitehorse has been approved for an infrastructure loan as part of Canada’s Economic Action Plan.

The announcement was made by the Honourable Senator Daniel Lang, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), during an official cheque presentation ceremony.

Whitehorse has been approved for $1,120,000 for a low-cost loan from CMHC’s Municipal Infrastructure Lending Program (MILP), for the Takhini North Reconstruction Project which will replace underground and roadway infrastructure in existing and new development areas of Takhini North. The new infrastructure will also service new lots that are being developed by the City and will reduce the risk of flooding, improve the efficiency of the sanitary sewers and provide safer walking access to pedestrians.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Mr. Lang. “This program is opening the door for municipalities of all sizes to meet their housing-related infrastructure needs and create jobs. It’s good news not only for Whitehorse, but also for the Yukon.”

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. These low cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“The City would like to recognize CMHC for their contribution to this major project in our City,” said Whitehorse Mayor Bev Buckway. “This low cost loan will mean the City can provide residents with significant interest relief on their local improvement charge commitments for their portion of reconstruction work in their community.”

Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting 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.

More information on this and other measures in Canada’s Economic Action Plan, the Federal government’s plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

More information, including applications forms, for municipalities wishing to apply for loans can be found at: www.cmhc.ca/housingactionplan.

Media inquiries:

Michelle Bakos
Office of the Honourable Diane Finley
Minister of Human Resources and Skills Development Canada
Tel.: 819-994-2482

Charles Sauriol
CMHC Media Relations
Tel.: 613-816-5978

Arthur McComish
Consultant
Marketing & Communications
Prairie & Territories
Canada Mortgage and Housing Corporation
Tel.: 403-515-2915
amccomis@cmhc-schl.gc.ca

News source: Canada Mortgage and Housing Corporation (CMHC)

 

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