British Columbia and Ottawa have reached a multi-billion-dollar funding agreement for housing and infrastructure in the province.
Speaking in Vancouver on Thursday, Prime Minister Mark Carney said the province would match $1.6 billion in federal funding over 10 years to lower development fees for multi-unit housing.
“That means $3.2 billion to finance the infrastructure that communities need to support that housing, all while reducing municipal development charges that often get passed on to homebuyers. The result – more people can afford homes and get great infrastructure alongside it,” said Carney.
B.C. would also match $600 million from Ottawa over three years for health infrastructure, such as hospitals and urgent care centres.
The federal government would provide up to $50 million over five years for infrastructure projects in coastal communities, including priority projects in Terrace and Prince Rupert.
The funding would be distributed through the federal Build Communities Strong Fund.
The province and Ottawa have also agreed to partner on converting more than 2,200 vacant condo units into affordable homes.
Ottawa also said it plans to invest $2.5 billion in B.C. transit projects over the next decade.
“Today’s announcement is an important symbol to me of the shared commitment between the provincial and federal government to make life better for British Columbians in a time when things are challenging,” said Premier David Eby.
Carney and Eby were scheduled to meet behind closed doors Thursday afternoon, before attending the Canada versus Qatar World Cup match at B.C. Place.
$200 million in joint funding for Tumbler Ridge
Ottawa and British Columbia will each pitch in $100 million for a new secondary school and other infrastructure in Tumbler Ridge, where six children and two women were killed in February’s mass shooting.
Construction is set to begin this summer, starting with the removal of the existing school.
The plan to jointly fund a new school in Tumbler Ridge was initially announced in May.
Eby said at the time the decision came after the school board consulted with survivors, families and community members.
RCMP have said Jesse Van Rootselaar shot two people at a home in the small northeastern B.C. community on Feb. 10, before killing five children and a teacher’s aide at Tumbler Ridge Secondary School.
Police said Van Rootselaar died at the school of a self-inflicted wound.
