The New Building Canada Plan
On Friday, March 28, 2014, the Government of Canada launched the New Building Canada Fund (NBCF) — a $14 billion, 10 year plan to invest in provincial, territorial and municipal infrastructure.
The NBCF has three components that total $14 billion over 10 years:
1. The National Infrastructure Component (NIC) — $4 billion/10 year
The NIC aims to identify and support projects of a demonstrable national economic interest. This component of the NBCF is open for applications. All applicants provincial, territorial and municipal) are encouraged to submit a detailed business case directly to Infrastructure Canada.
2. The Provincial-Territorial Infrastructure Component (PTIC) - $9 billion/10 years
The PTIC will be dedicated to provincial, territorial, and municipal infrastructure with a significant national or regional economic impact. All PTIC applications will undergo a two-step process. First, the initial review phase will require local government applicants to prepare a brief project description. This phase will act as an initial screen to ensure the projects meet the eligibility criteria and desired objectives of the NBCF.
The second phase will include the preparation of a more detailed business case similar to those required under the NIC. The focus of this phase will be to highlight the regional benefits of these projects.
The guides for both the initial review and business case are now available online. FCM is working closely with our Provincial/Territorial Municipal Association partners to encourage the federal and provincial/territorial governments to release details on how municipalities can apply for consideration of municipal projects under PTIC.
FCM will provide updated information to all municipalities as soon as the details are released.
3. The Small Communities Fund (SCF) - $1 billion/10 years
FCM anticipates that the SCF will be administered using a similar process to the PTIC; however, Infrastructure Canada will be negotiating funding agreements with each province/territory. These discussions must begin as soon as possible so that critical infrastructure projects in our communities can move forward.