The Ontario government rewarded the Town of Innisfil on Tuesday with a cheque for $2.520,00 in funding as the municipality exceeded its 2023 housing target. The town broke ground on 738 new housing units last year.
Matthew Rae, parliamentary assistant to the Minister of Municipal Affairs and Housing, was in Innisfil to present the cheque from the Building Faster Fund. The $1.2 billion fund over three years announced by the province last summer was designed to give municipalities more incentive to speed up home construction. Funding is provided to municipalities that have reached at least 80 per cent of their provincially assigned housing target for the year with increased funding for municipalities that exceed their target.
“I want to congratulate the Town of Innisfil and all municipalities that have worked hard to get shovels in the ground faster,” said Rae. “Our challenge to these municipalities now is to redouble their efforts to build more homes than ever before so we can improve affordability and keep the dream of homeownership alive in Ontario. Our government will be there to support you every step of the way, including through our recent budget investment of more than $1.8 billion in housing-enabling infrastructure.”
The fund includes $120 million for small, rural and northern municipalities to help build housing-enabling infrastructure and prioritize projects that speed up the increase of housing supply.
“The Town of Innisfil is a very desirable place for people to live and we are experiencing unprecedented growth as demonstrated by exceeding our housing target by 160 per cent in 2023,” said Lynn Dollin, Mayor of the Town of Innisfil. “The province has recognized our success in building more homes, which is part of our housing pledge for 6,300 additional homes in 10 years. We are also mindful that growth needs to be managed carefully, sustainably and in alignment with the town’s strategic plan and vision. We are grateful for the province’s funding which will continue to help us get building faster, together.”
