The Government of Ontario announced on Monday, August 21 that it will provide additional funding to municipalities that meet home-building targets, and extend strong mayor powers to Norfolk County and another 20 municipalities that commit to meeting these targets.
The additional funding will come from the Building Faster Fund, a new three-year $1.2 billion program for municipalities that meet defined home-building targets. These targets set out the number of new housing units required to meet current and future housing needs. The Province has set Norfolk County’s municipal housing target at 5,700.
While specific details are being reviewed, the Building Faster Fund will allocate funds to participating municipalities based on their contribution to the Province’s overall housing goal of building 1.5 million homes by 2031, as well as their performance against their annual target. Municipalities that meet 80 percent or more of their annual target will be eligible for a portion of funding, and those that exceed their target will be eligible to receive additional funding. Municipalities that do not reach 80 percent of their annual target will receive no additional funding.
There are currently 50 municipalities with assigned municipal housing targets in Ontario. A municipality’s housing target, as well as the strategies and actions it will take to accelerate housing development, are outlined in a Municipal Housing Pledge.
Norfolk County’s Municipal Housing Pledge will be considered at the Council meeting on Tuesday, September 19.
Municipalities that receive commitment to the housing pledge by their head of council, in writing, by October 15, 2023, will also receive strong mayor powers. Strong mayor powers provide councils with additional authority to assist with housing shortages, affordability, and population growth from immigration. Commitment to targets will also allow the municipality to be eligible for the Building Faster Fund.
“Improving housing supply and affordability is a number-one priority for municipalities across Ontario, and Norfolk County is prepared to meet and exceed the Provincial targets for growth and housing, with Infrastructure support being advanced by higher-order governments,” said Mayor Amy Martin. “Our Council continues to work together to advance priority development applications and I am confident that collectively, we will achieve our identified strategic priorities. The strong mayor powers that will come from committing to our Housing Pledge will provide an additional tool to help the County increase its housing supply, enabling more residents—new and existing—to make Norfolk County their home.” Mayor Martin also emphasized that factors outside the County’s control impact new home construction, and to meet the housing target, active participation from the development and community sectors will be needed.
Residents can review Council documents, watch Council meetings live, and access recorded meetings, at NorfolkCounty.ca/Council.
