EDITOR'S NOTE: This article originally appeared on Milton Today July 18.
The Town of Milton is set to receive millions in housing funding through a new provincial initiative.
Under the Building Faster Fund, Milton has committed to build 21,000 new homes by 2031 to qualify for the three-year program. Milton surpassed last year’s goal of 1,540 housing units, paving the way for $8,400,000 in funding — including a bonus payment.
“The application that we're making now in terms of the investment plan relates to the first year funding,” said Glen Cowan, the Town’s chief financial officer and treasurer. “So in 2023 we did exceed our housing target that was provided by 27 per cent. That allows us to maximize the funding that was available.”
As part of its submission to the Ministry of Municipal Affairs and Housing, the Town prepared a report outlining the initiatives to be undertaken with the funding.
Cowan said they propose allocating the funds to various infrastructure projects, primarily within intensification areas, to support a range of housing.
This includes $580,000 for the reconstruction and urbanization of Nipissing Road; $1.4 million for stormwater management facility rehabilitation, $1.9 million for storm sewer network rehabilitation, $1 million for Savoline Boulevard rehabilitation and $450,000 for multi-use pathway construction on Bronte Street (Etheridge to Louis St. Laurent avenues).
“It doesn't have to be core infrastructure, which is why you see roads and the storm being the focus. And in subsequent years, we'll reevaluate based on our capital plan as to where the best use may be after the province confirms what funding we may be eligible for in those years,” Cowan told council members Monday (July 15).
When asked by Coun. Colin Best about what the provincial housing target is for 2024, Jill Hogan, commissioner of development services, stated that the goal is to build 1,750 housing units.
Best said he’s concerned about the Town potentially not meeting the numbers this year and missing out on future funding. “One of the concerns we’ve brought up at AMO (Association of Municipalities of Ontario) is that it shouldn’t be based on construction. It should be on what we need,” he said, citing an unfavourable economic outlook.
Cowan reassured council that based on current progress and “things that are in the pipeline,” the Town expects to exceed the target.