Two municipal housing properties are receiving cash infusions.
Council decided recently to split the 2025 Building Faster Fund (BFF) between the 24 Redwood Cres. and 179 Eugenie St. affordable housing projects.
The funds are awarded by the provincial government to municipalities that exceed housing targets.
According to a report to council from Ray Harper, director of municipal housing and property development, funding from the BFF is intended to support further growth in housing supply, particularly through infrastructure that enables housing construction. That can include site servicing, roads, and utilities, as well as other expenses.
“In reviewing the BFF program guidelines and the housing needs of the community, administration has determined the best use of the BFF funding would be toward the approved affordable family housing projects,” Harper wrote. “The use of the BFF funding toward the affordable housing projects meets MMAH program guidelines and will reduce the project’s final reserve financing requirements.”
