Canada to launch $6B housing infrastructure fund, will need provincial buy-in
CTV
The federal government is launching a new $6 billion 'Canada Housing Infrastructure Fund' meant to speed up construction and upgrade key components needed to support building more homes such as waste and water infrastructure.
The federal government is launching a new $6 billion "Canada Housing Infrastructure Fund" meant to speed up construction and upgrade key components needed to support building more homes such as waste and water infrastructure.
Prime Minister Justin Trudeau announced the funding on Tuesday, alongside Housing Minister Sean Fraser in Dartmouth – to the sound of protesters chanting in the background – as the Liberals' pre-budget spending pledge tour continues.
According to the Prime Minister's Office (PMO), the fund will include $1 billion for "urgent infrastructure needs" such as improving wastewater, stormwater, and solid waste systems.
The remaining $5 billion will be set aside for the yet-to-be-negotiated agreements with provinces and territories.
The federal government will require provinces and territories to commit to a series of actions meant to increase Canada's housing supply in order to access this funding.
Among the requirements:
As for the timing of this new funding, provinces will have until Jan. 1, 2025 to secure a deal with the federal government, while territories will have until April 1, 2025.
