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Brampton earns Building Faster Fund stipend

DCN-JOC News Services
Brampton earns Building Faster Fund stipend

BRAMPTON, ONT. — Ontario Premier Doug Ford has announced Brampton will receive $25.5 million in funding through the Building Faster Fund in recognition of its progress in boosting housing stock in the city.

Homebuilders in Brampton broke ground on a total of 7,028 new housing units last year, stated a recent release.

In coming weeks, the province will announce Building Faster Fund funding for all municipalities that exceeded or achieved 80 per cent of their assigned housing targets in 2023.

Any unspent funding will be made available for housing-enabling infrastructure to all municipalities, including those that have already received funding as a result of reaching their targets, through an application process.

In addition, 10 per of the Building Faster Fund is being set aside for small, rural and northern municipalities to help build housing-enabling infrastructure.

The government had previously announced it is allocating $114 million to the City of Toronto through the fund after builders in the city broke ground on 31,656 new housing units last year.

“Brampton has shown it can get it done on housing and we are proud to reward them for their success,” said Ford in a statement. “I’m so proud of Mayor (Patrick) Brown and his council colleagues for leading Peel Region in progress toward their housing targets last year.”

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