Ontario Launching Building Faster Fund and Expanding Strong Mayor Powers

Government of Ontario

August 28, 2023

The Ontario government is launching the Building Faster Fund, a new three-year, $1.2 billion program that provides significant new funding based on performance against provincial housing targets. To ensure more municipalities have the tools needed to build homes and to expand eligibility for the Building Faster Fund, the province is also expanding strong mayor powers to municipalities projected to have populations of 50,000 or larger by 2031 that commit to meeting their provincial targets.

“With these new measures, we’re supporting municipalities and giving them the tools they need to build more homes faster to tackle the affordability crisis that’s pricing too many people, especially young families and newcomers, out of the dream of home ownership,” said Premier Doug Ford. “We have two choices: We can sit back and ignore the crisis, or we can build more homes. Our government is choosing to build homes.”

The Building Faster Fund will provide $400 million in new annual funding for three years to municipalities that are on target to meet provincial housing targets by 2031.

Municipalities that reach 80 per cent of their annual target each year will become eligible for funding based on their share of the overall goal of 1.5 million homes. Municipalities that exceed their target will receive a bonus on top of their allocation.

Funding from the Building Faster Fund can be directed toward housing-enabling infrastructure and other related costs that support community growth. Eligible expenses will be determined following consultations between the province, the Association of Municipalities of Ontario, the City of Toronto and the Housing Supply Action Plan Implementation Team. A portion of the overall funding will also be allocated to single and lower tier municipalities that have not been assigned a housing target, including small, rural and northern communities, in order to address their unique needs, following municipal consultations.

Ontario is also expanding strong mayor powers to 21 more municipalities that are projected to have populations of 50,000 by 2031 and whose heads of council are committed to a provincially assigned housing target. The expansion of strong mayor powers will take effect on October 31, 2023. The expansion is in addition to the 28 municipalities that already have strong mayor powers, having committed to targets through municipal housing pledges. Once a housing pledge is received from the head of council, these municipalities will also become eligible for and will have access to the Building Faster Fund.

The 26 designated municipalities are single- or lower-tier municipalities with a population over 100,000, or growing to 100,000 by 2031, and have submitted a housing pledge to the province:

  • Ajax
  • Barrie
  • Brampton
  • Brantford
  • Burlington
  • Caledon
  • Cambridge
  • Clarington
  • Guelph
  • Hamilton
  • Kingston
  • Kitchener
  • London
  • Markham
  • Milton
  • Mississauga
  • Niagara Falls
  • Oakville
  • Oshawa
  • Pickering
  • Richmond Hill
  • St. Catharines
  • Vaughan
  • Waterloo
  • Whitby
  • Windsor

“There is an urgent need to get more homes built quickly across Ontario,” said Minister of Municipal Affairs and Housing Steve Clark. “By providing additional financial resources to our municipal partners as well as strong mayor powers to help speed up the approvals process, our government is acting decisively to tackle Ontario’s housing supply crisis and build the homes our residents need and deserve.”

Source

Related Articles


Latest Articles

  • EFC: Wrapping Up 2024 and Looking Ahead to a Bright 2025 

    EFC: Wrapping Up 2024 and Looking Ahead to a Bright 2025 

    January 3, 2025 Message from EFC President and CEO Carol McGlogan With 2024 coming to a close, we are taking a moment to reflect on the achievements and challenges of the past year.    Navigating the dynamic and evolving landscape of our industry, we are proud of the incredible progress our organization has shown over the… Read More…

  • Declines in Ontario and Manitoba Construction Intentions Push Down the Non-Residential Sector

    Declines in Ontario and Manitoba Construction Intentions Push Down the Non-Residential Sector

    December 16, 2024 The total value of building permits issued in Canada decreased by $399.1 million (-3.1%) to $12.6 billion in October. This comes on the heels of a strong September, during which construction intentions rose by $1.3 billion to the second-highest level in the series. Despite the monthly decline in October, the total value of building permits… Read More…

  • Lighting Control Basics for Home Automation

    Lighting Control Basics for Home Automation

    By Matthew Biswas Do your eyes roll when you hear terms like Smart home technology?  Or are you a true believer?  As it turns out controlling electrical devices via low-voltage technology can be easier to implement and use than many of us thought. The Lutron Caseta system uses the internet and Radio Frequency to instantly… Read More…

  • Grounded in Ontario: The Future of Energy Storage Systems

    Grounded in Ontario: The Future of Energy Storage Systems

    December 16, 2024 Technical Advisor Trevor Tremblay explains why following best practices and relying on licensed professionals will ensure a smooth and secure transition when integrating this exciting new technology. Energy Storage Systems (ESS) are revolutionizing the way individuals and businesses manage energy, providing cost-saving opportunities, increased energy reliability, and a pathway toward sustainability. In… Read More…


Changing Scene

  • Government of Yukon and Government of Canada Announce New Investments to Make heat pumps more Affordable for Yukoners

    Government of Yukon and Government of Canada Announce New Investments to Make heat pumps more Affordable for Yukoners

    January 3, 2025 The Government of Canada and the Government of Yukon are partnering to help Yukoners switch to smart electric heating systems, making life more affordable while reducing greenhouse gas emissions. The federal investment consists of $1.4 million from the Federal Oil to Heat Pump Affordability program (OHPA) and $287,000 from Canada’s Low Carbon… Read More…

  • IPEX Named One of Greater Toronto’s Top Employers 2025

    IPEX Named One of Greater Toronto’s Top Employers 2025

    January 3, 2025 IPEX is proud to announce it has been named to the prestigious Greater Toronto Top 100 Employer list by Mediacorp. Canada Inc. As part of the designation, IPEX was profiled in a special digital magazine, which can be found here and also on the Globe and Mail’s website. “We are honoured to receive this noteworthy award,” said… Read More…

  • Manitoba Introduces Permanent Cut to Provincial Fuel Tax

    Manitoba Introduces Permanent Cut to Provincial Fuel Tax

    January 3, 2025 The Manitoba government is bringing in a permanent 10 per cent cut to the provincial fuel tax, Premier Wab Kinew announced today. “Our government keeps our word. We said we’d cut the fuel tax and we did,” said Kinew. “We said it would last 12 months and it did. Now we’re going… Read More…

  • New Measures in BC aim to Boost Home Construction

    New Measures in BC aim to Boost Home Construction

    January 3, 2025 Starting Jan. 1, 2025, the B.C. home-flipping tax will be in place to discourage investors from buying housing to turn a quick profit. People who sell their home within two years of buying will be subject to the tax, unless they qualify for an exemption, such as divorce, job loss or change… Read More…