Building Faster Fund
“Ontario. Municipal Affairs and Housing”
The funder does not disclose this information
Maximum Eligible Amount
Government Grant
Fund Type
To reward municipalities that build homes, the Ontario government is launching the Building Faster Fund, a new three-year, $1.2 billion program that provides significant new funding based on performance against provincial housing targets. To ensure more municipalities have the tools needed to build homes and to expand eligibility for the Building Faster Fund, the province is also expanding strong mayor powers to municipalities projected to have populations of 50,000 or larger by 2031 that commit to meeting their provincial targets.
The Building Faster Fund will provide $400 million in new annual funding for three years to municipalities that are on target to meet provincial housing targets by 2031. Municipalities that reach 80 per cent of their annual target each year will become eligible for funding based on their share of the overall goal of 1.5 million homes. Municipalities that exceed their target will receive a bonus on top of their allocation.
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