City of Brantford received $3,066,849 in funding from the Province of Ontario through the Building Faster Fund during an announcement on Monday, February 26, 2024.
Rob Flack, Associate Minister of Housing, made the announcement after the City exceeded its 2023 housing target by eight per cent, breaking ground on a total of 788 new housing units last year, unlocking an additional $400,182.
“Our government is making historic investments in infrastructure to give municipalities the tools they need to ensure that every resident has an affordable place to call home,” said Rob Flack, Associate Minister of Housing. “The City of Brantford and all other municipalities that have met or exceeded their housing targets should be proud of the work they have done to get shovels in the ground faster.”
Announced in August 2023, the Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to address the housing supply crisis. The fund rewards municipalities that make significant progress against their targets by providing funding for housing-enabling and community-enabling infrastructure. Funding is provided to municipalities that have reached at least 80 per cent of their provincially assigned housing target for the year with increased funding for municipalities that exceed their target.
“Brantford continues to grow at an unprecedented rate and we’re grateful to all those who contribute to the development and investment in our community,” said Kevin Davis, Mayor for the City of Brantford. “We appreciate the provincial funding through the Building Faster Fund, which will allow our city to sustain its expansion and our community to continue to grow, while also remaining a welcoming community that is a truly incredible place to live, work and play, and learn.”
Any unspent funding from the Building Faster Fund will be made available for housing-enabling infrastructure to all municipalities, including those that have already received funding as a result of reaching their targets, through an application process. In addition, ten per cent, or $120 million, of the Building Faster Fund is being set aside for small, rural and northern municipalities to help build housing-enabling infrastructure and prioritize projects that speed up the increase of housing supply.
“I am thankful every single day for the incredible working relationship that we have with the City of Brantford,” said Will Bouma, MPP for Brantford-Brant. “With the support of these provincial funds, our community will sustain its expansion while creating new job opportunities and business growth. The City of Brantford is ideally located near the United States border and the GTHA markets and with the help of the City of Brantford, council and residents, we will continue to be the best place to live, work, raise a family and grow in Ontario.”
