County applies for millions in federal funding to support affordable housing

The County has applied for more than $14.2 million in federal government funding to support local affordable housing initiatives.

The Housing Accelerator Fund, a government of Canada grant administered by the Canada Mortgage and Housing Corporation (CMHC), provides funding to local governments to encourage initiatives aimed at increasing housing supply and the development of affordable housing within the community.

“Staff have worked hard to put together a strong application for funding,” said Marcia Wallace, Chief Administrative Officer. “The application is centred around the Queen Elizabeth School redevelopment, as well as several other proposed housing projects that have been discussed with council and the Prince Edward County Affordable Housing Corporation that would make a meaningful difference in our community. We eagerly await the funder’s decision.”

At its May 9 meeting, County council approved the Prince Edward County Housing Plan 2023 to 2028 and directed staff to include the plan in the County’s application to the Housing Accelerator Fund.

The County’s Housing Plan outlines initiatives that align with the application criteria and would assist with increasing the affordable housing supply in the County.

Initiatives submitted under the Housing Accelerator Fund include:
– Investment in the Queen Elizabeth School, Picton redevelopment
– Long-term implementation of the Secondary Suite program to provide financial incentives to homeowners for the creation of additional dwelling units in their homes
– Investment in the creation of transitional housing and worker housing
– Investment in multiple public-private partnerships for affordable, supportive, and subsidized housing

The County’s application was submitted under the fund’s “Large/Urban” application stream for municipalities with a population greater than 10,000. The fund expects to invest $4 billion to grow the annual housing supply in Canada’s largest cities every year, creating a target of 100,000 new middle-class homes for 2024-2025.

For more information, contact Elis Ziegler, Affordable Housing Supervisor, at 613.476.2148 extension 1529 or email eziegler@pecounty.on.ca.