FAO report digs into Ontario’s municipal infrastructure assets
Today the Financial Accountability Office of Ontario (FAO) released a report that reviews the infrastructure assets owned by Ontario’s municipalities. The FAO estimates 55 per cent of municipal assets are in a state of good repair, with the remaining 45 per cent not in a state of good repair. The current cost to bring municipal assets into a state of good repair is about $52 billion. The Daily Commercial News will have more on this story.
Governments invest in York and Ajax community projects
Prior to the election call, Canada and Ontario announced an investment of over $6.5 million in two community infrastructure projects in York Region and Ajax, Ont. The Government of Canada is investing over $5.2 million in these projects, with the Government of Ontario providing over $1.3 million.
In York Region, the funding will support upgrades to municipal buildings throughout the area. In Ajax, funding will support the expansion of the existing ActiveTOA trail network.
Three GTHA recreation projects receive funding
More than $5.2 million is being invested by the Ontario and federal governments in three culture and recreation projects in the Greater Toronto and Hamilton Area and central Ontario. The Government of Canada is investing over $2.8 million, with the Government of Ontario providing more than $2.3 million. Recipients are contributing a combined investment of more than $1.9 million.
Projects include upgrades to trail infrastructure in conservation areas located in Caledon, Erin, Halton Hills and Mississauga. Funding will also go towards the design, fabrication and installation of an indoor and outdoor children’s gallery at the Lincoln Museum and Cultural Centre. In Markham, upgrades to the Community Centre within the Unionville Seniors Hub will take place.
Annual pace of housing starts slowed in July: CMHC
Canada Mortgage and Housing Corp. is reporting the annual pace of housing starts in July fell compared to June. The annual pace of starts fell to 272,176 units in July compared with 281,200 in June. The drop came as the pace of urban starts edged down 0.65 per cent in July to 249,001. The annual rate of urban starts for apartments, condos and other types of multiple-unit housing projects fell 3.1 per cent to 184,759, while the pace of single-detached urban starts rose 7.1 per cent to 64,242.
CMHC estimated rural starts at a seasonally adjusted annual rate of 23,175.
— with files from The Canadian Press