Canada's Gas Tax Fund Helping Ontario Communities

WATERLOO, ONTARIO--(Marketwired - Nov. 14, 2013) - The Honourable James Flaherty, Minister of Finance and Regional Minister for the Greater Toronto Area and Central Ontario, the Honourable John Baird, Minister of Foreign Affairs and Regional Minister for Eastern and Northern Ontario, and the Honourable Diane Finley, Minister of Public Works and Government Services and Regional Minister for Southwestern Ontario, announced today that the Government of Canada is making available the second installment of its annual $2-billion federal Gas Tax Fund allocation for municipal infrastructure, bringing Ontario's total allocation this year to close to $746.8 million.

Peter Braid, Parliamentary Secretary for Infrastructure and Communities and Member of Parliament for Kitchener-Waterloo was joined by Ken Seiling, Regional Chair of Waterloo, to make the announcement at the completion event for the Victoria Street Bridge.

"Investments through the federal Gas Tax Fund are helping Ontario's communities address their local infrastructure priorities," said Minister Flaherty. "Our Government is proud to support infrastructure projects that create jobs, promote productivity and support economic growth."

"Across Canada, federal Gas Tax funds have been invested to improve drinking water and wastewater infrastructure, public transit, community energy systems, solid waste management and local roads," said Minister Baird. "Our Government's infrastructure investments through the Gas Tax Fund will benefit municipalities across Ontario for years to come."

"Reliable, up-front funding provides greater certainty for municipalities to plan and carry out projects," said Minister Finley. "Best of all, it has been helping our communities build and revitalize the public infrastructure that they need to ensure that they remain among the best places to live in the world."

Canada's Gas Tax Fund provides predictable, long-term funding for Canadian municipalities to help them build and revitalize their local infrastructure while creating jobs and long-term prosperity. Funding is provided up front, twice a year and the Government of Ontario, the Association of Municipalities of Ontario (AMO) and the City of Toronto administer the program across the province. Projects are chosen locally and prioritized according to the infrastructure needs of each community.

Municipalities can pool, bank and borrow against this funding, providing significant financial flexibility. To date, close to $4.7 billion has been made available to Ontario under the current Gas Tax Fund.

The Gas Tax Fund has funded numerous initiatives across Ontario that support water and wastewater infrastructure, local roads, public transit, solid waste, community energy systems, active transportation and capacity building.

"Municipalities in Ontario rely on Canada's Gas Tax Fund for stable, predictable funds to invest in priority projects," said Russ Powers, AMO President. "Thanks to our unique federal-municipal partnership, the Fund is helping to make our communities safer, more efficient and prosperous."

The Government of Canada has extended, doubled, indexed and made permanent the Gas Tax Fund. These improvements will see Canada's Gas Tax Fund grow from its current $2 billion per year while providing provinces and municipalities with predictable funding to deliver on local infrastructure priorities.

BACKGROUNDER THE GAS TAX FUND IN ONTARIO

The federal Gas Tax Fund makes capital investments in important community infrastructure. Eligible investments currently include water, wastewater and solid waste infrastructure, public transit, community energy systems, local roads and bridges, and capacity building. It provides predictable, stable funding, allowing municipalities to choose and plan the infrastructure priorities in their community.

Through the Gas Tax Fund, municipalities across Ontario have benefited from close to $4.7 billion in predictable and flexible funding for local priorities since the program began. The Government of Ontario, the Association of Municipalities of Ontario (AMO) and the City of Toronto administer the program across the province.

To read more about the Gas Tax Fund in Ontario, please see the attached backgrounder and visit: www.infrastructure.gc.ca/pub/infra/gtf-fte/gtf-fte-2013-eng.html.

For additional information about federal investments in infrastructure visit www.infrastructure.gc.ca or follow us on Twitter at @INFC_eng.

For further information about Canada's Economic Action Plan, visit www.actionplan.gc.ca