Building Ontario Fund

Ministry

Finance

URL

https://buildingonfund.ca/

Background

Building Ontario Fund Act, 2024, S.O. 2024, c. 12, Sched. 1 (opens a new window)

Function

The Corporation’s objects are to invest, and seek to attract investment from qualified institutional investors, public sector entities, governments and Indigenous communities, with priority given to Canadian investors, in Ontario infrastructure projects that will generate revenue and that will be in the public interest by, (i) investing in infrastructure and appropriately allocating risks amongst the Corporation and other investors, (ii) structuring proposals and negotiating agreements with investors in infrastructure projects, (iii) receiving and assessing unsolicited ideas and proposals for infrastructure projects that come from qualified institutional investors, public sector entities, governments or Indigenous communities, and (iv) providing advisory services with respect to financing infrastructure projects, including loan structures and areas of investment opportunity.

Membership

The board of directors of the Corporation shall be composed of at least three and not more than 11 members. The board of directors of the Corporation shall be appointed at pleasure by the Lieutenant Governor in Council on the recommendation of the Minister. On the recommendation of the Minister, the Lieutenant Governor in Council shall designate a chair from among the members of the board of directors and may designate a vice-chair from among the members of the board of directors.

Qualifications

Board members should have skills / experience in one or more of the following areas: strategic planning, infrastructure strategy,  financing and investments, legal, risk, government knowledge and engagement, and agency start-up.

Term

No limitation in legislation.

Meetings

The board shall meet at least four times each year.

Remuneration

Appointees are remunerated according to Schedule A, Level 2 of the Agencies and Appointments Directive.

Appointments & Vacancies