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The City of Abbotsford is getting up to $65.7 million in federal funding for its proposed P3 Stave Lake water project should civic voters approve the project in the referendum during the election.

Abbotsford MP Ed Fast announced that the federal government will provide the money for the infrastructure project - the greatest ever invested by Ottawa in the city's history - through the P3 Canada Fund.

The funding demonstrated the government's commitment to support important community infrastructure projects, Fast said.

"The Stave Lake water project will not only deliver a long-term solution for the city's water supply, but will also produce economic benefits and deliver greater value for taxpayers," he said.

"We are absolutely certain that the residents of Abbotsford will receive excellent value for their money."

The federal government believes public-private partnerships are a viable cost-effective option to deliver these projects on budget and on time, he added.

The grant will help the city meet its increasing water needs, said Fast.

"Abbotsford's water supply can't keep up with demand even with conservation methods."



Read more: http://www.vancouversun.com/sports/Feds+announce+million+Abbotsford+Stave+Lake+project/5589177/story.html#ixzz1diGkEfeX
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Keeping you updated about what's happening in Real Estate and in the Fraser Valley!