Federal government announces $2.36m for Toronto flood defences

by Steve Randall04 Dec 2018

The federal government will provide $2.36 million towards eight Ontario projects to mitigate flooding in Toronto.

Combined, these projects will help protect 43,774 residents in surrounding communities from the dangers of flooding. Toronto and Region Conservation Authority (TRCA) is leading delivery on these eight projects.

"Reducing the risks from flooding in our region is one of TRCA's main responsibilities. Governments at all levels jointly face the challenge of more severe weather events coupled with the opportunity presented by planned growth and intensification in our communities. Today's funding announcement will help TRCA and its municipal partners take significant strides in reducing flood risk so people are safer, properties are better protected, and our communities are more resilient," said John MacKenzie, Chief Executive Officer, Toronto and Region Conservation Authority.

According to the Insurance Bureau of Canada, insured damage in 2016 topped $4.9 billion – passing the previous annual record of $3.2 billion set in 2013—and that the annual economic cost of disasters around the world has increased five-fold since the 1980s.

National Disaster Mitigation Program
The funding for the Toronto projects is part of the National Disaster Mitigation Program which reflects an investment of $200 million over five years.

“Because of climate change, weather-related natural disasters are getting more severe, more frequent, more damaging and more expensive. We're determined to reduce the impacts of natural disasters on Canadians by building safer and more resilient communities. The projects announced today will help Toronto and its surrounding municipalities better prepare for and respond to floods," said Ralph Goodale, Minister of Public Safety and Emergency Preparedness.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?