Province providing $695 million in financial aid for municipalities impacted by COVID-19
The Ontario government has announced it is providing $695 million in financial relief for municipalities across the province.
This additional funding is to ensure municipalities aren't forced to carry operating deficits into 2021.
“This joint funding will help Ontario’s municipalities recover from the impacts of COVID-19 faster, by helping them to enter into 2021 without operating deficits from this year,” Steve Clark, Minister of Municipal Affairs and Housing, said in a news release.
“By ensuring our municipal partners are in a sound financial position to begin the new year, they can focus on keeping their capital projects on track while continuing to provide the critical services their residents rely on," he continued.
Of this additional funding, $299 million is being allocated across all 444 municipalities to help provide more financial relief, while $396 million will be allocated to the 48 municipalities that have been hardest hit by COVID-19, and have demonstrated a need for additional assistance in covering their 2020 operating deficits.
“This funding will ensure municipalities in every part of Ontario are in a better position to maintain vital municipal services in 2021 and to proceed with capital investments essential to Ontario’s economic recovery,” Graydon Smith, president of the Association of Municipalities of Ontario, said in the same release.
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