Deadline for energy, waste, water and transportation capital projects: August 1, 2019
FCM’s Green Municipal Fund (GMF) finances capital projects that improve air, water, and land and reduce greenhouse gas emissions.
We offer a range of funding for capital projects related to energy, transportation, waste, water and brownfields.
About capital projects
A capital project involves the retrofitting, construction, replacement, expansion, or purchase and installation of fixed assets or infrastructure that will improve environmental performance in municipal, energy, transportation, waste, or water, or some combination of these sectors. Brownfield capital projects involve soil remediation or risk management to bring contaminated land into productive use.
Through GMF, FCM supports capital projects that demonstrate an innovative solution or approach to a municipal environmental issue – projects that can generate new lessons and models for municipalities of all sizes and types in all regions of Canada. These projects offer significant environmental benefits, a strong business case and social advantages, while being complemented by local policies and measurement systems.
Low-interest loans and grants
We offer low-interest loans, in combination with grants, to implement capital projects. Funding is provided for up to 80 per cent of eligible project costs. The loan maximum is $5 million, and the grant amount is 15 per cent of the loan. Applicants with high-ranking projects may be eligible for a loan of up to $10 million, combined with a grant for 15 per cent of the loan amount, to a maximum of $1.5 million.
Brownfields: Grants are not available for capital projects in the brownfields sector. There is no specified loan limit for these capital projects, but we reserve the right to adjust the maximum loan per project.
Competitive lending rates
For municipal governments, we offer loans at competitive rates that are typically lower than other municipal financing sources, for the respective terms. Since GMF loans in all sectors (except brownfields) are offered in combination with a grant of 15 per cent of the loan amount, this makes the effective yield even lower.
For partners in municipal environmental projects, such as private-sector entities and municipally owned corporations, we offer competitive, long-term financing based on a credit risk assessment. Coupled with the grants that we offer in all sectors except brownfields, our effective loan rate is much lower than a comparable rate from traditional funding sources.
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