B.C. and Ottawa have signed a long-awaited funding agreement that will bring $4.1 billion in transportation and infrastructure money to B.C.
Federal Infrastructure and Communities Minister Amarjeet Sohi and B.C. Transportation Minister Claire Trevena made the announcement Monday in Vancouver.
The money includes $2.2 billion for TransLink, $464 million for BC Transit, $1.1 billion for greenhouse gas emission-reducing infrastructure, $166 million to improve the quality of life in northern communities and $157 million for culture and recreation projects.
Trevena said Ottawa’s $4.1 billion investment will leverage $10 billion through cost-sharing agreements with the province and municipalities.
It comes from a pool of $33 billion already set aside by Ottawa for provincial funding agreements.
The federal government will pay for up to 40 per cent of new builds and 50 per cent of repair and rehabilitation projects.
Rural and northern communities will get 50 per cent of all costs covered, while communities under 5,000 people will get 60 per cent.