TORONTO —Infrastructure Ontario (IO) has entered into new commitments to provide $11.7 million in financing for four eligible community-based infrastructure projects through its loan program, the Ontario government announced recently.
The loan program provides affordable, long-term financing for infrastructure development and renewal.
The Municipality of Brockton will receive a $5.9 million loan for the East Ridge Industrial Business Park expansion. The Municipality of West Perth will receive a loan of just over $4 million for a new bridge and fire hall. A water treatment plant upgrade for the Township of Fauquier-Strickland will get a $950,000 loan and the Town of Cobalt will get a loan of $800,000 for a community public works facility.
The loan program, which is open to Ontario’s municipalities and non-profits, has helped finance various types of infrastructure projects such as the construction of roads, bridges, arena complexes and long-term care homes and the acquisition and installation of capital assets like fire trucks and energy-efficient lighting, indicates a release.