The County of Prince Edward has applied for more than $14.2 million dollars in funding to support local affordable housing initiatives through the Accelerator Housing Fund.
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,” says Marcia Wallace, Chief Administrative Office, County of Prince Edward. “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, 2023 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 many initiatives that align with the application criteria of the Housing Accelerator Fund and will assist with increasing the affordable housing supply in the County. The initiatives contained within the County Housing Plan and application submitted under the Housing Accelerator Fund include:
- Investment in the Queen Elizabeth School 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 Housing Accelerator Fund will 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 firstname.lastname@example.org.