As part of the Build Communities Strong Fund–Community Stream agreement, Canada, B.C. and UBCM agreed to continue strengthening local governments’ capacity to undertake asset management. This work is integral to building strong cities, communities and regions.
The 10-year Agreement (2024–2034) includes commitments to improve asset management capacity and practices. These include reporting on progress over the duration of the Agreement, developing and implementing long-term financial plans, reporting on asset management education and training, and implementing asset management performance measurement.
Over the 10 years of the Agreement, British Columbia is expected to receive $3.6 billion in funding from Canada.
Recipients of the fund are required to report on their asset management progress, which UBCM will include in the annual outcomes report.
Supporting resources for recipients are available on UBCM’s BCSF–Community Stream asset management page.
Specific requirements and timelines for asset management were established by the BCSF–Community Stream Oversight Committee in 2024 shortly after the renewed agreement came into effect.