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Municipalities to receive funding for rental housing

DCN News Services
Municipalities to receive funding for rental housing

TORONTO — As part of the Development Charges Rebate Program, the provincial government is providing 13 municipalities across Ontario with $125 million over the next five years.

Municipalities will use these funds to encourage developers to build more rental housing, states a release issued by the Ministry of Housing. Municipalities were selected based on proposals outlining how they would use the program to encourage rental development and were allocated funding based on their rental vacancy rates and tenant populations.

The municipalities receiving funding include: Toronto ($60 million), Ottawa ($18.25 million), Mississauga ($13.35 million), Hamilton ($6.85 million), Kitchener ($5.25 million), Brampton ($5 million), Kingston ($3.56 million), Markham ($2.85 million), St. Catharines ($2.84 million), Richmond Hill ($2.25 million), Peterborough ($1.97 million), Barrie ($1.51 million) and Greater Sudbury ($1.18 million).

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