The Ontario government continues to support municipalities and other community partners through Infrastructure Ontario’s (IO) Loan Program by providing affordable, long-term financing for infrastructure development and renewal. The Loan Program is just one way that Ontario is working with local partners to improve the quality of life in communities across the province.
Ontario announced that IO has entered into new commitments to provide over $30 million in financing through its Loan Program with nine eligible communities:
- Corporation of the Town of The Blue Mountains for property purchases – $2,795,821 loan
- Corporation of the Township of Whitewater Region for the purchase of a compactor drum roller – $157,524 loan
- Corporation of the Township of Clearview for a new library – $3,250,000 loan
- Corporation of the Township of Admaston/Bromley for road work, excavator repairs, tandem truck and equipment purchases – $2,742,109 loan
- Corporation of the Township of Laurentian Valley for a collection truck – $355,329 loan
- Corporation of the Township of Greater Madawaska for various road work and equipment – $2,057,000 loan
- Corporation of the County of Northumberland for Elgin Park redevelopment – $11,961,534 loan
- Corporation of the Municipality of East Ferris for a new municipal office and fire hall – $4,800,000 loan
- Corporation of the Municipality of West Perth for a municipal office – $2,439,876 loan
With more than 440 clients, including municipalities and non-profits, the Loan Program has helped finance various types of infrastructure projects such as the construction of roads, bridges, arena complexes and long-term care homes, and the acquisition and installation of capital assets like fire trucks and energy-efficient lighting.
Supporting modern and efficient public infrastructure is critical for building a strong economy, prosperous communities and creating jobs. The provincial government is committed to protecting people’s health and the economy by investing in infrastructure that improves the quality of life for all Ontarians.
Featured image: Courtesy Blue Mountain Resort