Three levels of government have finalized a renewed Canada Community-Building Fund agreement, which is meant to ensure critical housing infrastructure is built, maintained and expanded.
The deal announced will see the federal government invest $4.7 billion over the next five years.
In a joint statement, Sean Fraser, Canada’s Minister of Housing, Infrastructure and Communities, Paul Calandra, Ontario’s Minister of Municipal Affairs and Housing, Olivia Chow, Mayor of Toronto, and Colin Best, President of the Association of Municipalities of Ontario (AMO) said, “Infrastructure investments support affordable and inclusive communities that Canadians live and work in. The CCBF has paved roads like Rollins Drive and Chelford Crescent in Belleville, renovated community spaces like the Bayview Hill pool in Richmond Hill, and protected public spaces like the Centeen Park seawall in Brockville. The fund provides predictable and sustainable funding for communities to make sure that municipalities can keep making the investments their communities need.
“We recognize the importance of infrastructure in increasing Canada’s housing supply. By working together to strategically invest in projects aligned with regional housing goals, we will help increase the number of affordable homes in Ontario.”
The agreement outlines three priority goals, including:
- Reporting on affordable units created to meet the needs of communities and increase capacity of the non-profit sector;
- Working across all orders of government to leverage public lands to meet housing needs; and
- Supporting innovation in construction techniques by committing to a provincial innovation strategy for modular and prefabricated housing, including working with the federal government to develop and adopt a design catalogue.
The news was met with praise from several Ontario infrastructure-related groups.
“RCCAO welcomes news that all three levels of government have finalized an agreement through the Canada Community-Building Fund (CCBF) that will see Ontario’s municipalities receive $4.7 billion in infrastructure funding over 5 years,” said Nadia Todorova, executive director of the Residential and Civil Construction Alliance of Ontario (RCCAO).
“This funding is crucial for municipalities across Ontario who are facing a growing and unsustainable state of good repair backlog. The City of Toronto alone faces an alarming $26 billion shortfall that, if unaddressed, would carry devastating consequences for quality of life and economic growth.”
“The renewal of the CCBF is a testament to the importance of infrastructure in building strong and sustainable communities,” said Walid Abou-Hamde, CEO of the Ontario Road Builders Association (ORBA). “This significant investment will not only enhance our transportation network but also play a crucial role in addressing the housing needs of Ontarians.”
