The City of Terrace can expect to receive over a million dollars in gas tax funds based on its projection for 2021 to 2022 allocated by the Union of B.C. Municipalities (UBCM).
While the initial projection for the gas tax allocation for the city of Terrace in 2021/22 is $570,311, a payment that is only a one-time thing from the federal government that will amount to $545,435 has brought the current projection to over a million dollars.
Based on the UBCM’s gas tax allocation list that was released last week, the City of Terrace is also projected to get the same amount of money as this year’s initial projection for 2022/23 and $595,268 the following year for 2023/24.
The Federal gas tax funding — which was officially named the Canada Community-Building Fund — is given to municipalities by the UBCM through its Community Works Fund (CWF) stream. This federal funding that gets dispersed through the CWF is aimed at aiding municipalities with their prioritized local infrastructures such as roads, bridges, public transit, drinking water, broadband connectivity, community energy systems and disaster mitigation just to name a few things.
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