B.C. announces one-time billion-dollar growth fund

Every community in British Columbia will be eligible for infrastructure grants coming from a one-time $1-billion government fund.

Premier David Eby says the money has been set aside in the provincial budget surplus, which was estimated at $5.7 billion last fall.

He says he expects the government’s Growing Communities Fund grants to help local municipalities improve roads, build arenas and water facilities and improve recreation options for families.

The premier says the grants are available to B.C.’s 188 municipalities and regional districts, and can be used to prepare for future growth and build amenities to support housing developments.

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Surrey Mayor Brenda Locke says the province’s investment is much needed by Surrey, the fastest-growing city in B.C.

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Eby says the individual grant amounts will be calculated on a population formula and distributed by the end of March.

“This is a one-time, billion-dollar investment to help communities meet the demands of record population growth, aging infrastructure and support those communities impacted by downturns, for example in the forestry sector,” Eby said at a news conference Friday.