City rewarded $1.72 million for exceeding provincial housing target

Today, Matthew Rae, parliamentary assistant to the Minister of Municipal Affairs and Housing, announced the City of Welland would receive $1,720,000 in Government of Ontario funding through the Building Faster Fund. Welland broke ground on a total of 868 new housing units last year. These funds are the result of the municipality exceeding its 2023 housing target by 176 per cent.

Announced in August 2023, the Building Faster Fund is a three-year, $1.2 billion program designed to encourage municipalities to address the housing supply crisis. The fund rewards municipalities that make significant progress against their targets by providing funding for housing- and community-enabling infrastructure. Funding is provided to municipalities that have reached at least 80 per cent of their provincially assigned housing target for the year, with increased funding for municipalities that exceed their target.

“We applaud the work being done by the City of Welland and all municipalities that have met or exceeded their housing targets,” said Rae.

Mayor Frank Campion, members of Council, and City staff attended the presentation, gratefully acknowledging this funding will positively impact and enable further development of Welland’s infrastructure.

“We would like to thank the Minister for this funding. It will enable us to expand and improve our infrastructure which in turn will assist with residential growth-related costs”, said Mayor Campion. “It is important that growth pays for growth so that the costs do not fall on the ratepayer. Having achieved and exceeded our growth targets we qualified to receive this funding and we appreciate that the provincial government has stepped up to the plate to assist.”

With livability being among Welland’s strategic priorities, the construction of more homes, and a variety of homes, is one of the City’s key objectives. “Through the collective efforts of staff and Council, we have aligned our policies and procedures to ensure new housing can be built efficiently and effectively in Welland, while meeting and exceeding provincial priorities,” said Grant Munday, director of planning and development services for the City.

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For media inquiries, please contact:
Paul Orlando
Communications
905-735-1700 x2133
paul.orlando@welland.ca