The Ontario government announced Wednesday it is providing up to $1.6 billion to municipalities across the province including over $40 million to Waterloo Region and the municipalities it encompasses.
The money, which is to be used to deal with operating pressures caused by the COVID-19 pandemic, is coming from the Safe Restart Agreement between the provincial and federal governments. The total could eventually rise to $4 billion.
A total of $695 million is being split evenly across the province on a headcount basis. In places with two-tiered local governments like Waterloo Region, it is being divided between the region and the municipalities.
There is also a transit fund that is being used to address budget shortfalls and to pay for measures installed to fight COVID-19.
The region says it has projected a $13 million – $17 million deficit for 2020, which is in large part due to transit. Plunging ridership levels have left transit services with plunging revenues.
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The province announced Wednesday that it would be allocating $13,346,700 to Waterloo Region for its share of the funding plus another $16,473,425 for transit.
The region’s largest city, Kitchener, is also projecting a tax-supported operating deficit remains of $5.8 million but that number does not include the deficit for enterprise-related things such as parking which are also projected to see a $2.1 million shortfall.
The province is sending $5,939,500 to Kitchener to help ease the burden.
Elsewhere, the City of Cambridge will get $3,069,100 while the City of Waterloo will see $2,879,100.
The four area townships will also get a slice with North Dumfries receiving $222,200, Wellesley, Wilmot getting $204,100, Wilmot netting $482,400 and Woolwich seeing $550,500.
The province says municipalities can get more money from it if they prove they are in need still.