Green Municipal Fund doubled, eligibility expanded
December 9, 2010
By Federation of Canadian Municipalities
Dec. 9, 2010, Ottawa – The Federation of Canadian Municipalities announces more Green Municipal Fund funding and broader eligibility requirements for municipal environmental projects in Canada.
Dec. 9, 2010, Ottawa – The Federation of
Canadian Municipalities (FCM) announces more Green Municipal Fund (GMF) funding
and broader eligibility requirements for municipal environmental projects in
Canada. FCM has increased GMF loan and grant limits for capital projects from a
$4 million low-interest loan with a 10% grant to a $10 million low-interest
loan with a 20% grant, up to a maximum grant of $1 million. Total grant funding
is up from $8 million to $12 million each year.
Along with the higher funding limits, FCM
has broadened the eligibility for GMF funding and structured it on
environmental objectives or outcomes, as opposed to specific project types. FCM
also added flexibility in terms of the number and timing of disbursements and
payback, and eliminated penalties so that municipal governments can have more
confidence about the total amount they can expect to receive once they have
been approved for funding. Funding details and a new online application form
are available on the GMF website.
Through GMF, FCM funds sustainable
community plans, feasibility studies and field tests, and capital projects in
five sectors: brownfields, energy, transportation, waste, and water. There is
no specified funding limit for brownfield remediation projects, one of GMF’s
funding priorities. GMF funding is available to all municipal
governments and their partners in eligible projects.
The Canadian government endowed FCM with
$550 million to establish the GMF. The Fund supports partnerships and
leveraging of both public- and private-sector funding to reach higher standards
of air, water, and soil quality, and climate protection.
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