Halifax submitting bid for $73M from federal housing fund
Funds would help speed up permit approvals
The Halifax Regional Municipality is submitting a bid for up to $73 million from the federal government's Housing Accelerator Fund.
On Tuesday evening, council passed a motion to move forward with the bid, due by June 14. Planners said if the bid is successful, some of the money will be used to hire more staff to help fast-track permit approvals for an additional 2,600 residential units over the next few years. It could also potentially be used to provide relief in areas affected by the Tantallon wildfire.
The federal government's Housing Accelerator Fund, launched earlier this year, is targeted at municipalities across the country with the goal of providing financial assistance to accelerate housing supply.
To qualify, municipalities are required to submit an action plan with at least seven initiatives, and pledge to increase baseline growth for new permits by a minimum of 10 per cent over the next three years.
If approved, the city would receive $18.3 million in the summer of 2023, with additional funding of $18.3 million in each of the following three years contingent on implementing the initiatives and meeting the targets laid out in its application.
Mayor confident
There are currently 206,465 dwellings in the Halifax Regional Municipality, the city said in its report, reflecting 2021 census data that's been adjusted to include dwellings added since then.
The city calculates an average of 4,264 new housing units a year have been built in the municipality over the last five years.
According to a presentation by the city, the funding would be used to, among other things, streamline permit processes, reduce upfront costs and permit fees, facilitate the conversion of non-residential properties to residential ones, and expand the affordable housing grant program.
Halifax Mayor Mike Savage is confident the funding will be approved, but said it's not a done deal.
"We gotta go out and win it," Savage said Tuesday. "We seem to be on the right track, but there's no guarantee."
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With files from Haley Ryan
