The announcement was made by Blaine Calkins, Member of Parliament for Wetaskiwin, on behalf the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said MP Calkins. “This program is opening the door for municipalities to meet their housing-related infrastructure needs. Canada’s Economic Action Plan will continue to create jobs and stimulate the local economy here in Rimbey, and in all corners of the country.”

Rimbey has been approved for a low-cost loan of more than $1.5 million from CMHC’s Municipal Infrastructure Lending Program (MILP), to upgrade its water distribution system. These upgrades will improve the water pressure for residents of Rimbey as well as increase the town’s water storage capacity for fire protection.

Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects through the MILP. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“The Municipal Infrastructure Lending Program is great for smaller communities with limited borrowing capacity” said Tony Goode, Chief Administrative Officer for the Town of Rimbey. “Thanks to the CMHC loan, the Town of Rimbey is able to undertake water storage and distribution improvements that will enhance the Town’s ability to provide sustainable residential, commercial, and industrial growth in the area.”

Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting and green space.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Scenes from Rimbey – Moishe Alexander (video)

According to statistics released by The Canadian Real Estate Association (CREA), actual (not seasonally adjusted) home sales, via the Multiple Listing Service(R) (MLS(R)) of Canadian real estate boards, totaled 147,351 units in the second quarter of 2009 – the fourth strongest quarterly sales figure ever. Up 1.4 per cent from the second quarterof 2008, this marks the first year-over-year increase in quarterly activity since the fourth quarter of 2007.

http://blog.buzzbuzzhome.com/2009/07/mls-canada-fourth-strongest-quarterly.html

reviewed by Moishe Alexander, CFC  Canadian Funding Corp CEO