Funding can be used to invest in housing- and community-enabling infrastructure
Sudbury — Rob Flack, Associate Minister of Housing, announced Ontario is providing the City of Greater Sudbury with $1,520,000 in funding through the Building Faster Fund as the municipality has exceeded its 2023 housing target, breaking ground on a total of 436 new housing units last year.
“Our government is making historic investments in infrastructure to give municipalities the tools they need to ensure that every resident has an affordable place to call home, including our $1.2 billion Building Faster Fund and $1.8 billion in additional funding announced in our recent budget,” said Rob Flack, Associate Minister of Housing. “The City of Greater Sudbury and all other municipalities that have met or exceeded their housing targets should be proud of the work they have done to get shovels in the ground faster.”
Announced in August 2023, the Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to address the housing supply crisis. The fund rewards municipalities that make significant progress against their targets by providing funding for housing-enabling and community-enabling infrastructure. 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.
“Robust housing developments that match or exceed our growing population and evolving needs are required to ensure our city is a welcoming place for all residents in different stages of life,” said Paul Lefebvre, Mayor of the City of Greater Sudbury. “Thank you to the provincial government for this investment and ongoing support as we work together to fill the housing gaps in our community.”
The Building Faster 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.