10-28-2020, 03:19 PM
(This post was last modified: 10-28-2020, 03:20 PM by danbrotherston.)
(10-28-2020, 01:34 PM)tomh009 Wrote: Yesterday's announcement of $500M for affordable housing, directly from the federal government to municipalities, includes $8.3M for Waterloo Region.
https://twitter.com/Redman4Region/status...6660862978
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">An unprecedented 8.2 million investment to <a href="https://twitter.com/RegionWaterloo?ref_src=twsrc%5Etfw">@RegionWaterloo</a> today will support our most vulnerable through the creation of new affordable housing units & enable us to make real progress on our goal of ending chronic homelessness.<br><br>Thank you <a href="https://twitter.com/FCM_online?ref_src=twsrc%5Etfw">@FCM_online</a> for your advocacy. <a href="https://t.co/NIqeBAyhA6">https://t.co/NIqeBAyhA6</a> <a href="https://t.co/OP62XUuCU3">pic.twitter.com/OP62XUuCU3</a></p>— Karen Redman (@Redman4Region) <a href="https://twitter.com/Redman4Region/status/1321178116660862978?ref_src=twsrc%5Etfw">October 27, 2020</a></blockquote>
I assume (and hope) that this will be used for new projects, incremental to what the region already has planned. Depending on the size and type of units, and whether land has to be purchased, this could create 40-50 more affordable units in the region.
The federal government has an additional $500M available "for projects that are completed within a year of federal officials giving a green light for funding." That timeline probably dictates the conversion of existing buildings (such as hotels) rather than development of all-new properties.
CTV's story is here:
https://kitchener.ctvnews.ca/waterloo-re...-1.5163770
40-50...isn't the line for social housing like thousands long?
This is a completely intracticable problem...the money would be better spent changing policy to force housing to be more affordable.
Basically, every building/development today should be something like 10-20% affordable.
Either that or we need to multiply funding by 30-50 (perhaps spread across a few years). Where is there 40 million dollars per year in the budget (I mean, besides the police budget, oh wait, I answered my own question).