GMF finances capital projects that improve air, water, and soil, and mitigate the impacts of climate change.
A capital project involves the retrofitting, construction, replacement, expansion, or purchase and installation of fixed assets or infrastructure that will improve environmental performance in municipal, energy, transportation, waste, or water, or some combination of these sectors. Brownfield sector capital projects involve soil remediation or removal.
Through GMF, FCM supports capital projects that demonstrate an innovative solution or approach to a municipal environmental issue — projects that can generate new lessons and models for municipalities of all sizes and types in all regions of Canada. These projects offer significant environmental benefits, a strong businesses case and social advantages, and are complemented by local policies and measurement systems.
GMF funding is available to help you achieve the following environmental performance outcomes:
|Bring contaminated sites back into productive use and reduce the need for greenfield development|
|Reduce energy consumption and, consequently, GHG emissions|
|Reduce energy consumption through fuel-efficient transportation (applications assessed under energy performance criteria)|
|Reduce, reuse and recycle material that would otherwise enter the waste stream, and reduce GHGs from landfill|
|Reduce potable water use and loss, or protect local water bodies|
In 2015—2016, we aim to approve:
- $30 million in loans and $5 million in grants for capital projects in the energy, transportation, waste and water sectors
- a minimum of $20 million in loans for capital projects in the brownfields sector
GMF is a self-sustaining endowment fund. These annual funding limits help us to prudently manage the funding available for green projects.
We offer low-interest loans, usually in combination with grants, to implement capital projects. Funding is provided for up to 80 per cent of eligible project costs. The loan maximum is $5 million, and the grant amount is set at 15 per cent of the loan. Applicants with high-ranking projects may be eligible for a loan of up to $10 million combined with a grant for 15 per cent of the loan amount, to a maximum of $1.5 million.
Brownfields: Grants are not available for capital projects in the brownfields sector. There is no specified loan limit for capital projects in this sector, but we reserve the right to adjust the maximum loan per project.
Competitive lending rates
For municipal governments, we offer loans at competitive rates that are typically lower than other municipal financing sources, for the respective terms. Since GMF loans in all sectors (except brownfields) are offered in combination with a grant of 15 per cent of the loan amount, this makes the effective yield even lower.
For partners in municipal environmental projects, such as private-sector entities and municipally owned corporations, we offer competitive, long-term financing based on a credit risk assessment. Coupled with the grants that we offer in all sectors but brownfields, our effective loan rate is much lower than a comparable rate from traditional funding sources.
GMF capital project funding is available to all municipal governments and their partners.
Project eligibility is structured around environmental outcomes. Our eligibility criteria are flexible to allow you to determine the best ways to achieve your environmental goals. Find out more about who and what types of projects are eligible.
We will consider, on a case-by-case basis, capital project applications that don't meet any of the prescribed environmental thresholds, but that demonstrate strong direct environmental benefits and exceptional knowledge value (i.e. the project demonstrates a new solution or approach to a municipal environmental issue). If you think your project meets this description, please contact a GMF advisor.
Apply for funding
New application forms and updated application resources are now available.
If your capital project is approved for funding, costs become eligible for partial reimbursement on the date we receive your application. However, costs you incurred to complete the application form (consultant costs) up to 90 days before you submitted your application are also eligible for partial reimbursement.