🚨 Huge Cash Infusion for Innisfail! 💸 Over $500K coming to boost local infrastructure in 2024! 🏗️ What's next for this Alberta town? 🤔 #Olds #Alberta #FundingNews #CommunityUpdate
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Innisfail Secures Over Half a Million Dollars in Federal Infrastructure Funding
Town Also Receives Nearly $440,000 for Recreation and Library Services
INNISFAIL – The Town of Innisfail is set to receive more than $500,000 in federal funding to support infrastructure projects in 2024. This funding comes as part of the Canada Community-Building Fund (CCBF), a new 10-year agreement between the federal and Alberta governments that promises stable financial support for municipalities across the province. The CCBF, launched in July, will provide Alberta with more than $1.3 billion over its first five years, starting with $265 million in 2024.
Additionally, Innisfail will benefit from $438,961 allocated for recreation and library services, as announced by Red Deer County on July 23. Red Deer County Mayor Jim Wood emphasized the strong collaborative relationship between the county and Innisfail in his message to town officials. "These payments exemplify the strong intermunicipal relationships between Red Deer County and the Town of Innisfail," Wood noted. "As always, we value the partnership we have developed over the years to ensure residents of both communities have access to these services."
Federal Funds Keep Infrastructure Projects Moving
Alberta’s Minister of Municipal Affairs, Ric McIver, highlighted the importance of reliable funding for local infrastructure and housing projects. "Alberta communities rely on predictable, stable funding from all levels of government," McIver said in a statement. "This flexible funding program will enable Alberta communities to achieve their local infrastructure priorities, and help to address housing challenges with support for local roads and waterlines for housing projects."
In his letter to Innisfail officials, McIver confirmed that the town’s allocation for 2024 under the CCBF will be $515,183. This news came as a relief to Innisfail Mayor Jean Barclay, who had been concerned about potential delays in funding due to ongoing negotiations between the Alberta and federal governments. "I am pleased to see the CCBF announcement come when it did," said Barclay. "We’ve already allocated that money in the budget, so it’s good that it is here and we can move forward."
More Funds to Support Innisfail’s Growth
The federal funding through the CCBF is part of a broader package of financial support for Innisfail in 2024. The town also received $1,109,729 in capital infrastructure funding and $130,080 in operating funding under Alberta’s new Local Government Fiscal Framework (LGFF). This funding framework replaces the Municipal Sustainability Initiative (MSI) program, which provided Innisfail with $491,235 in 2023.
The new CCBF agreement brings several updates, including an adjusted formula for allocating funds that ensures base funding for all municipalities, with additional amounts determined on a per capita basis. Changes to reporting requirements for local governments, particularly regarding housing-related matters, are also on the horizon. Minister McIver assured municipalities that updated program guidelines will soon be available.
With these funds secured, Innisfail can continue to invest in vital infrastructure projects that will benefit residents for years to come.