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Federal government to give $471 million to Toronto in housing deal

Prime Minister Justin Trudeau made the announcement in Toronto Thursday, saying the city will receive the money from the federal Housing Accelerator Fund
Written by The Canadian Press
Dec 21, 2023
The cash infusion is meant to help the city build affordable housing. (CP/Christopher Katsarov)

TORONTO — The federal government says it will give Toronto nearly half a billion dollars in housing funding.

Prime Minister Justin Trudeau made the announcement in Toronto this morning, saying the city will receive $471 million from the federal Housing Accelerator Fund.

The $4-billion fund is a federal initiative to encourage municipalities to make changes to bylaws and regulations that would spur more housing construction, in exchange for more money. 

Some of the changes Ottawa has pushed for include denser zoning and faster issuance of permits. 

Housing Minister Sean Fraser, Toronto Mayor Olivia Chow, and others were alongside Trudeau for the funding announcement.

Including the announcement today, Ottawa has reached deals with 16 municipalities across the country.

This report by The Canadian Press was first published December 21, 2023

 

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