TORONTO — The Ontario government is awarding more than $67 million to the City of Toronto through the second round of the Building Faster Fund.
The funding is given to municipalities that achieve at least 80 per cent of their provincially designated housing targets.
Toronto broke ground on 20,999 new homes in 2024, which works out to 88 per cent of its target. This funding will help Toronto build more homes and community infrastructure, a release reads.
Announced in August 2023, the Building Faster Fund is a three-year, $1.2-billion program that is designed to encourage municipalities to speed up municipal approval processes and get more homes built faster.
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