Ontario Providing New Tools to Municipalities to Build More Homes Sooner

To further support municipalities in our work to build at least 1.5 million homes by 2031, our government is introducing the Building Faster Fund, a new three-year $1.2 billion program to help municipalities meet or exceed the housing targets they have pledged to achieve by 2031. Ten per cent of the funding will be reserved for small, Northern and rural municipalities that have not been assigned housing targets.

We are also expanding strong mayor powers in 21 municipalities, provided heads of council commit to a municipal housing target. The expansion of strong mayor powers will take effect on Oct. 31, 2023. The expansion is in addition to the 28 municipalities that already have strong mayor powers, having committed to targets through municipal housing pledges. With these new measures, we’re supporting municipalities and giving them the tools they need to increase housing supply and tackle the affordability crisis that too many Ontarians are facing

Learn more: https://news.ontario.ca/en/backgrounder/1003396/ontario-providing-new-tools-to-municipalities-to-build-more-homes-sooner