Canada's Economic Action Plan Delivers Housing-Related Infrastructure Loan for the County of Oxford

WOODSTOCK, Ontario, November 09, 2009 — The Government of Canada announced today that the County of Oxford has been approved for seven infrastructure loans as part of Canada’s Economic Action Plan.

The announcement was made by Dave Mackenzie, Member of Parliament for Oxford, 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).

The County of Oxford has been approved for more than $12 million in low-cost loans from CMHC’s Municipal Infrastructure Lending Program (MILP):

• The Town of Ingersoll will see $1.7 million put to work for the reconstruction of Clark Road East and Wonham Streets,
• The Township of East Zorra – Tavistock will see an investment of $3 million for wastewater servicing in Innerkip,
• The Township of Blandford – Blenheim will benefit from $3.17 million for upgrades to the Wastewater Treatment Plant/Sewage Pump station in Platsville,
• The City of Woodstock is investing $200,000 to upgrade its Thames Valley Sewage Pump Station, and
• The Township of Zorra is investing $4.3 million for the Embro Wastewater Servicing Program.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said MP Mackenzie. “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 Oxford, but also for Ontario.”

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. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“Oxford County is very happy to partner with all levels of government,” said Oxford County Warden Paul Holbrough. “Residents in Oxford will benefit for many years as a result of the funding being made available for these critical infrastructure projects”.

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.

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.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.

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