Posted Jun 19, 2026, 6:27 AM
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Registered User
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Join Date: Jan 2015
Location: BC
Posts: 4,586
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Local governments in B.C. can tap into $5-billion housing and infrastructure fund
Quote:
Ottawa and the province are setting up a $5-billion fund that municipalities can tap into to pay for new homes, and the infrastructure and transit needed to keep up with growing communities.
But there are strings attached.
Municipalities must lower the fees that developers pay to local governments, which the prime minister and British Columbia's premier say can hinder new construction.
"That means lower upfront costs, greater certainty for builders, and more affordable homes for you to buy or rent," Carney said alongside Premier David Eby during Thursday's announcement in Vancouver.
The fund includes $3.2 billion over 10 years, split equally between Ottawa and B.C., to lower development charges for multi-unit housing by up to 50 per cent in priority communities. Carney said it could save up to $40,000 per unit, and fund infrastructure such as water systems, wastewater systems and local roads.
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The province and Ottawa will also spend $1.2 billion over three years to upgrade hospitals, emergency rooms, urgent care centres, and other critical health facilities.
"In many B.C. communities, hospitals built in the 1970s are now serving populations twice the size they were designed for, making families wait too long for the care they need," Carney said.
Ottawa has also earmarked $2.5 billion over 10 years to fund new transit projects, including the Surrey-Langley SkyTrain extension project currently underway.
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