June 29, 2010 -- The Government of Canada announced today that the City of Hamilton has been approved for an infrastructure loan as part of Canada's Economic Action Plan.

The announcement was made by David Sweet, Member of Parliament for Ancaster-Dundas-Flamborough-Westdale 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 Sweet. "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 Hamilton, and in all corners of the country."

Hamilton has been approved for a low-cost loan of $25 million from CMHC's Municipal Infrastructure Lending Program (MILP) to improve 250 residential streets throughout the City. The projects will include road resurfacing and concrete curb and sidewalk repairs for the benefit of the residents of the City of Hamilton.

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.

"This funding has assisted Hamilton in rebuilding roads and sidewalks in many of our city's neighbourhoods," said Mayor Fred Eisenberger. "The project has helped to ensure that Hamilton's neighbourhood infrastructure will continue to be addressed, allowing us to better prepare for future growth and prosperity."

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.