$440M for P.E.I. in infrastructure funding announcement
Prince Edward Island will receive almost half a billion dollars in federal infrastructure funding over the next 10 years, but the province is still looking at the details of how that will roll out.
Ottawa announced the distribution of the funding Thursday. The Building Canada Plan, which is worth $14 billion across Canada over the next decade, was announced in the federal budget a year ago, but like all the other provinces, P.E.I. only learned how much it would get in Thursday's announcement.
"Well, we're still going through the details of the program," said P.E.I. Infrastructure Renewal Minister Robert Vessey.
"My first initial thought on it is it looks good, I hope it plays out well for the province, but again we're going through the details."
A billion dollars has been earmarked for municipalities with populations less than a 100-thousand. Cornwall town administrator Kevin McCarville said there there are still a lot of unknowns.
"We don't know specifically how much money is coming to the town," said McCarville.
"We don't know specifically how that money will flow, if we get that money every year, if it's back-end loaded, if it's front end loaded."
Every province receives base funding of $250 million, which is topped up on a per capita basis. Of the $440 million coming to P.E.I., $277 million comes from the Building Canada Fund, and $163 million from the federal Gas Tax Fund.