Mr. Speaker, the recent federal budget announced an additional $300 million for the green municipal funds of which I understand half will be targeted to the cleanup of brownfields.
The cleanup of these lands can restore otherwise sterile property for new industrial, commercial or retail development providing jobs and generating realty tax revenues. There is also the potential for residential or recreational uses. All the forgoing help to reduce urban sprawl. The benefits are positive. The difficulty is that such rehabilitation is very expensive.
I hope that some of the many Niagara brownfields, particularly along the Welland Canal in Thorold, Welland and Port Colborne, will benefit from this new funding. In particular, a former industrial site in Welland is a prime area for development, as well as surplus St. Lawrence Seaway lands in Port Colborne that are currently the subject of phase III and IV environmental assessments.
I look forward to hearing more details about these funds and how the communities in my Welland riding can apply. I extend our appreciation to the Ministers of Finance and the Environment for their vision and for providing funding for these initiatives.