Ontario announces more than $1.8B in new funding to help municipalities build homes

March 21, 2024 Canuck

Ontario is investing more funding for housing- and community-enabling infrastructure, something Premier Doug Ford says will help municipalities get shovels in the ground to build more homes.

Ford made the pre-budget announcement at a news conference in Richmond Hill Thursday morning, Ford said he’d heard from municipalities “time and time again… that a lack of infrastructure is one of the biggest barriers to getting more homes built.”

In response, he said his government is investing more than $1.8 billion to help build at least 1.5 million homes by 2031.

“We’re launching the new Municipal Housing Infrastructure Program with $1 billion in funding that will support building core infrastructure projects such as roads, bridges and water infrastructure,” Ford said.

He also said his government is “more than quadrupling” its spending on the Housing-Enabling Water System Fund.

“Through this fund, we’re now investing over $825 million over three years to help municipalities repair, rehabilitate and expand drinking water, wastewater and storm water infrastructure,” Ford said.

Last year the province launched a $1.2 billion Building Faster Fund, which rewards municipalities for meeting or exceeding their housing targets.

Toronto and Brampton are among the beneficiaries of significant funding for exceeding their housing targets.

Last month, Ford congratulated Toronto on its progress building homes in 2023 with a $114 million cheque, saying the city has knocked provincial housing targets out of the park.

According to the province’s housing tracker, set up last year, the city exceeded its mandated single-year 2023 goal by 51 per cent. As a result, the city has been given more money.

WATCH | Premier Doug Ford rewards Toronto for exceeding housing targets:

Toronto to receive $114M from Ontario for exceeding housing targets

28 days ago

Duration 1:38

Premier Doug Ford announced Thursday that the provincial government is giving the city of Toronto a $114 million cheque for exceeding its housing targets.

Also last month, Ford handed Brampton a cheque for more than $25.5 million, saying the city has made tremendous progress in meeting provincial housing targets.

According to the province’s housing tracker, the city met 85 per cent of its mandated single-year 2023 goal. As a result, Brampton has been given millions in funding.

Speaking at Thursday’s news conference, Finance Minister Peter Bethlenfalvy said that by significantly growing investments, “we’re able to more quickly build the roads, sewers and reservoirs needed to connect new homes to the grid and help more Ontarians become homeowners.”

Speaking on behalf of the municipalities, Burlington Mayor Marianne Meed Ward, who is also the chair of the Ontario Big City Mayors group, thanked the province for listening and working with mayors to address the issues they face building more housing.

“Funding for critical infrastructure including water and wastewater, roads and bridges is necessary if we are going to achieve our housing goals,” Meed Ward said.

“We look forward to continuing to work with the government to build thriving, complete communities across Ontario.”

View original article here Source