The exclusions are tied to projects that are funded under 14 or 15 specific funding programs. You're right, many of those will expire at the end of this year, but there are some, notably the Building Canada plan, that don't expire. Those will continue. So there very well may be projects that are partway through construction at the end of this year that would be funded under those programs.
On May 5th, 2010. See this statement in context.