Loyalist Township council made sure to get its Housing Accelerator Fund (HAF) application fixed up this week before a deadline on Thursday.
The HAF helps provide funding to local governments for initiatives that are aimed at increasing housing supply.
Staff at Loyalist Township were informed this week by the Canada Mortgage and Housing Corporation (CMHC) that their HAF application included an initiative that wasn’t eligible. To make an application, seven initiatives within the community must be outlined. By including an ineligible initiative, the application was left with only six and wouldn’t have been approved. The township had until Thursday this week to make an amendment.
An initiative surrounding the implementation of growth-related infrastructure was the one that was not eligible. While funding from the HAF can be put towards housing-related infrastructure, it’s the implementation of infrastructure that is not eligible.
At their Sept. 11 meeting, staff presented council with two options for fixing the application, and replacing the initiative in question.
The first option was a new initiative surrounding the declaration and sale of surplus lands for housing purposes, and the second involved breaking down one of the other 6 initiatives into two separate ones, resulting in seven total.
Council ultimately chose the first option in which the new initiative fully replaces the other.
The estimated cost of this initiative would be $95,000, resulting in the same total funding request. These costs would cover staff time, appraisals, and legal requirements. The replacement of the ineligible initiative with this initiative also means no change in projected housing units over both the three year and 10 year portion of the program. The alternative option would’ve meant less funding, and less units.
Coun. Lorna Willis noted her support for the first option.
“I think it makes sense to maximize the funding opportunity and the potential for new units,” said Willis.
The new initiative will include review of township-owned lands, and identifying those that could be sold. These lands could be sold for housing or affordable housing-related uses.
