The Federation of Canadian Municipalities (FCM) is renewing its Green Municipal Fund (GMF) program, with updates taking effect on April 1, 2015.

To balance the high demand for available funding, while supporting the strongest initiatives, the FCM plans to update its eligibility criteria and selection process for capital projects in the energy, transportation, waste and water sectors.

Other updates will include funding limits for all funding streams and a renewed application process, along with new application forms and support tools. Applicants in the aforementioned sectors will have to undergo an initial review before they complete a funding application.

Applications will still be accepted year round; however, funding decisions will be made twice per year in February and September, as opposed to six times per year.

Field tests, which will soon be called pilot projects, and feasibility studies will have to align with updated criteria for capital projects. The maximum funding for the field tests will increase from $175,000 to $350,000.

High-ranking projects may qualify for higher loans amount, but loans, which now constitute 80 per cent of costs to a maximum of $10 million with the 20 per cent grant limit, will decrease to a maximum of $5 million, with a grant limit of 15 per cent.

More detailed information will be released in late February.