Ontario Building Faster Fund: Tracker

[ad_1]
Houses for sale in Ottawa

With Ontario’s goal of creating 1.5 million new homes by 2031 looming, the Province is handing out funding to municipalities that are helping to get it there.

The parameters are pretty cut and dry: the Ford government has set housing targets for 50 of Ontario’s largest and fastest-growing municipalities and is now in the process of ‘rewarding’ those that have hit at least 80% of their target for 2023. Said funding will come out of the Building Faster Fund — a three-year, $1.2B incentive program unveiled last August — and can be used towards housing-enabling infrastructure like site servicing, roads, and public utilities, and other shovel-ready projects that support home- and community-building.


Municipalities that have exceeded their targets for 2023 can expect to receive bonus funding.

It’s worth noting that the Province has a pretty broad definition of what classifies “housing progress.” Monthly housing start data from Canada Mortgage and Housing Corporation, data on additional residential units (such as laneway, garden, and basement suites added to existing homes), and data on long-term care beds from the Ministry of Long-Term Care are all being considered when determining funding eligibility.

1. February 22, 2024: Toronto

  • Amount: $114M
  • 2023 Target: 20,900
  • 2023 Housing Progress: 151%
  • 10-Year Target: 285,000

2. February 23, 2024: Brampton

  • Amount: $25.5M
  • 2023 Target: 8,287
  • 2023 Housing Progress: 85%
  • 10-Year Target: 113,000

3. February 23, 2024: Chatham-Kent

  • Amount: $440,000
  • 2023 Target: 81
  • 2023 Housing Progress: 644%
  • 10-Year Target: 1,100

4. February 26, 2024: Brantford

  • Amount: $3M
  • 2023 Target: 733
  • 2023 Housing Progress: 108%
  • 10-Year Target: 10,000

5. March 1, 2024: Whitchurch-Stouffville

  • Amount: $2.6M
  • 2023 Target: 477
  • 2023 Housing Progress: 239%
  • 10-Year Target: 6,500

6. March 01, 2024: Welland

  • Amount: $1.72M
  • 2023 Target: 315
  • 2023 Housing Progress: 276%
  • 10-Year Target: 4,300

7. March 01, 2024: Belleville

  • Amount: $1.24M
  • 2023 Target: 227
  • 2023 Housing Progress: 284%
  • 10-Year Target: 3,100

8. March 08, 2024: Milton

  • Amount: $8.4M
  • 2023 Target: 1,540
  • 2023 Housing Progress: 127%
  • 10-Year Target: 21,000

9. March 11, 2024: Peterborough

  • Amount: $1.88M
  • 2023 Target: 345
  • 2023 Housing Progress: 147%
  • 10-Year Target: 4,700

10. March 11, 2024: St. Catharines

  • Amount: $2.3M
  • 2023 Target: 807
  • 2023 Housing Progress: 80%
  • 10-Year Target: 11,000

11. March 13, 2024: Sarnia

  • Amount: $400,000
  • 2023 Target: 73
  • 2023 Housing Progress: 348%
  • 10-Year Target: 1,000

12. March 13, 2024: Pickering

  • Amount: $5.2M
  • 2023 Target: 953
  • 2023 Housing Progress: 158%
  • 10-Year Target: 13,000

13. March 14, 2023: Guelph

  • Amount: $4.68M
  • 2023 Target: 1,320
  • 2023 Housing Progress: 98%
  • 10-Year Target: 18,000

14. March 14, 2023: North Bay

  • Amount: $400,000
  • 2023 Target: 73
  • 2023 Housing Progress: 277%
  • 10-Year Target: 1,000

Total Amount To Date: $171.76M

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *