City of Peterborough to Receive Over $10 Million Over Three Years Through the Housing Accelerator Fund
/The City of Peterborough will receive $10,690,354 in funding over three years through the Housing Accelerator Fund (HAF).
Photo courtesy of The City of Peterborough.
It is a federal program run by the Canada Mortgage and Housing Corporation (CMHC) to support building more housing in Peterborough.
“Housing is a critical need in our community. This funding will help Peterborough build the foundation for greater housing development in our community. I would like to thank the federal government and the CMHC for recognizing the urgency here in Peterborough,” said Mayor Jeff Leal.
A City Council report in March will outline details about the initiatives and next steps.
The City’s HAF Action Plan aims to unlock housing development by providing direct incentives for constructing additional dwelling units, missing middle housing such as triplexes and fourplexes, and affordable housing and making systemic changes to municipal policies and procedures according to the City.
The following is the list of initiatives that make up the City’s Action Plan:
Reduce or eliminate residential parking requirements;
End exclusionary zoning and incentivize missing middle housing;
Increase process efficiency by implementing a public-facing e-permitting portal;
Implement a Community Planning Permit System;
Make City-owned land available and foster partnerships to develop housing;
Formalize processes and resources to support housing innovation and alternative construction methods; and,
Modernizing the Affordable Housing Community Improvement Plan.
