Federal government to invest $11.2 billion over 11 years for affordable housing
Toronto Community Housing welcomes the federal government’s commitment to invest more than $11 billion in affordable housing over the next 11 years, as announced in the 2017 Federal Budget on March 22. This investment includes $5 billion to implement a new National Housing Fund and $3.2 billion in partnership with the provinces for social housing renovations and repairs, construction of new affordable housing, and rent subsidies. The federal government also committed to preserving baseline funding for expiring federal operating agreements, which is an estimated $4.8 billion. We are working with City of Toronto staff to assess the possible impacts of the federal investments on Toronto Community Housing’s 2018 budget, and in particular how we can find ways to continue our 10-year capital repair program in support of our tenants.