Municipalities vying for the federal program should provide their “most ambitious” projects, housing minister says
Housing Minister Sean Fraser called on municipalities to supply their most ambitious offers in their applications for the federal Housing Accelerator Fund, which has set aside $4 billion until 2026-27.
“Not every city is guaranteed approval just because they’ve submitted an application,” Fraser told reporters in a press conference earlier this week. “We’re looking for the best of the best.”
“If cities decide to do something less than their best offer, they will be competing for what’s left in the fund after we’ve addressed the most ambitious applications.”
Fraser further encouraged municipalities to offer up proposals that will achieve the objectives of the HAF’s newly revealed guidelines.
“We don’t want to be dogmatic,” Fraser said. “We want to be good partners.”
Among the guidelines are suggestions to end density exclusionary zones, make municipal lands available for housing construction, and remove restrictions on building height.
At the same time, the housing minister said that municipalities should build on the best aspects of qualified applicants.
“If you see your neighbour stepping up their ambition and getting a successful agreement with the federal government, know that that's who you’re competing against,” he said.
Christopher Alexander, President of RE/MAX Canada believes that whether the bank maintains rates or introduces a slight hike, it won't have a dramatic impact on Canada's housing market. https://t.co/3AR1SFo17K#MortgageIndustry #HousingMarket #RateHike #InterestRates
— Canadian Mortgage Professional Magazine (@CMPmagazine) October 24, 2023
Feds should ensure greater accessibility of funding
Amy Coady, president of Municipalities Newfoundland and Labrador, recently said that allotments like the HAF should be made more accessible to ensure that the most in-need markets get what they need.
In the case of Newfoundland and Labrador, majority of its municipalities simply do not have the resources to apply for federal programs like the HAF.
“When we look at the members of MNL, 75% of our members are municipalities under 1,000 [people] with probably a half-time clerk,” Coady said.
“We’re missing out on so many opportunities because we can’t even get the applications completed. These programs are fabulous, but we need these programs to meet us where we are. Not where we need to be.”
