Ontario is revising the Building Faster Fund due to concerns about its fairness in measuring municipal housing progress. The minister plans to consult with local leaders to enhance the fund and adjust it to current market conditions. The fund financially incentivizes municipalities that meet 80 percent of their housing targets, yet only 23 out of 50 met the criteria this past year. Many municipalities argue that they are unfairly penalized for delays in builder activity that are beyond their control, while needing to speed up infrastructure projects.
The Building Faster Fund rewards municipalities that hit at least 80 percent of assigned housing targets, but many municipalities argue this measure unfairly penalizes them.
Municipalities cannot control when builders start projects, leading to unfair accountability for missed funding thresholds based on housing unit starts.
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