| MPP
Ted Arnott acknowledged by Ontario’s Finance Minister
Ontario’s
Finance Minister Janet Ecker addressed the Greater Kitchener-Waterloo
Chamber of Commerce on August 27th, where she spoke
about the Ontario economy and the Government’s plans
for jobs, growth and prosperity said Waterloo-Wellington
MPP Ted Arnott.
During
her remarks, Minister Ecker mentioned that Ontario’s
prosperity depends on ongoing investments in the infrastructure
required to support our economy and quality of life.
She acknowledged Mr. Arnott’s strong support of the
Government’s initiative of offering low-interest loans
to municipalities for capital improvements through Ontario
Opportunity Bonds. These new bonds will encourage investment
in clean water and other crucial infrastructure projects
in local communities.
On
sale from April 22nd to May 15th, the sale of Ontario
Opportunity Bonds raised $320 million. Last week, the
Government announced that the money would be dispersed
to approximately 88 municipalities in the form of low-interest
loans. The loans are administered by the Ontario Municipal
Economic Infrastructure Financing Authority (OMEIFA)
at half the market interest rate. These loans are intended
to help finance new clean water infrastructure, sewage
facilities, transit networks, roads and bridges, and
waste management.
The
Government has approved a low-interest loan of $38,521,300
for the Region of Waterloo, the Cities of Kitchener
and Waterloo, and the Townships of Wilmot and Woolwich,
as well as a low-interest loan of $1,750,000 for the
Town of Minto.
“I’m
proud of this initiative. It allows Ontarians to invest
in the quality of life within their own communities,
making a solid investment for themselves and their families,”
concluded Mr. Arnott.
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