City to receive additional $5.9 million in Gas Tax Funding

BRANTFORD, ON – On March 25, 2021, the City of Brantford was advised of a one-time doubling of the annual federal Gas Tax allocation for 2021, resulting in an additional funding of $5,945,048. The federal Gas Tax program, soon to be renamed the Canada Community-Building Fund, is a permanent source of federal funding for local infrastructure to address local priorities.

At their meeting on May 12, 2021, the City of Brantford Finance Committee approved the reallocation of Gas Tax funding to eliminate the need to use debt financing for both the Dufferin Park redevelopment and Arrowdale Community Park capital projects. This results in an estimated savings of $2.6 million in interest costs over 20 years for tax payers.

“We are grateful for the federal Gas Tax and the Association of Municipalities of Ontario for facilitating this funding to our community,” says Councillor Greg Martin, Chair of the Finance Committee, City of Brantford. “I am proud of staff for their hard work and strategic financial recommendations that will save the City of Brantford money as we move forward with the planned state-of-the-art recreational facilities.”

Through the review of eligible projects, seven were identified as nearing the construction phase, and have tax-supported capital funding that will be reallocated to replace the financing requirements of the two planned park projects. With the elimination of the $6.2 million of debt for both the Dufferin Park redevelopment and Arrowdale Community Park, the City avoids a total debt servicing cost of over $440,000 annually over 20 years.

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Media Contact:

Heather Carvalho | Acting Manager, Communications and Community Engagement
City of Brantford | hcarvalho@brantford.ca

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