Obviously the housing accelerator fund is very much focused on new supply. I just want to highlight that, at the city, should we be able to secure some of the funding from the accelerator, then we can use that to respond to local need and local priorities. One of our key objectives is not just to look at the creation of new affordable rental supply but to support partners to protect what we already have.
We have a couple of big programs at the city. We have a tower renewal program, and we also have a multi-unit residential acquisition program that puts non-profits in great positions so that they can bid and acquire units on the market and secure them as long-term affordable housing. They may be naturally occurring affordable housing, but unless they're secured, then that can often change as a result of speculation. This is a local issue here at the city, and we could really apply the accelerator fund to help us with that.
On your question about short-term rental, I think you touched on something, which is that there isn't going to be one solution to our affordability crisis. Again, we need to protect existing supply. We don't just need to create new supply.
We also need an innovative and creative housing policy like precluding short-term rentals or limiting the impact on market rental supply. In addition, I would also include in that basket of policies things like a vacant homes tax, for example, so that we're really utilizing the supply we've created over many years to the benefit of the people who live and work in our city.