The Canada Community Building Fund (CCBF), which has provided funding for Calgary projects both big and small, is set to continue for at least another decade.

The Government of Canada and the Government of Alberta announced on July 19, that Albertans would be receiving $1.3 billion in funding for the first five-years, in a 10-year to 2034 deal.

Until 2021, the fund was previously known as the Gas Tax Fund.

The province said in a statement on the deal that Alberta municipalities would receive $265 million in 2024.

“Investments in infrastructure are essential in supporting affordable and inclusive communities for all Canadians. We are proud to announce this deal that will provide communities across Alberta with flexibility to invest in their local needs,” said federal Minister for Housing, Infrastructure, and Communities Sean Fraser.

In 2023, the City of Calgary received $80.5 million from the federal government from the CBBF.

Minister of Municipal Affairs, Ric McIver, said that the province had worked with their federal counterparts to ensure stable funding for Alberta municipalities.

“Alberta communities rely on predictable, stable funding from all levels of government. This flexible funding program will enable Alberta communities to achieve their local infrastructure priorities, and help to address housing challenges with support for local roads and water lines for housing projects,” he said.