Mr. Speaker, with regard to part (a), in order to receive money through the fund, eligible communities must commit to an action plan that includes local initiatives that remove barriers to housing supply, accelerate the growth of supply, and support the development of complete, low-carbon and climate-resilient communities, which are affordable, inclusive, equitable and diverse. The action plan must detail the local government’s commitment to a housing supply growth target, alignment to priorities and minimum number of initiatives they plan to undertake to increase and speed up the supply of housing in their communities. Approved applicants will receive an upfront advance to begin to implement their action plan. The remaining approved funding will be disbursed in installments annually over three years until 2026-27, provided the applicant adheres to the terms and conditions of the contribution agreement, including successful completion of local initiatives and achievement of growth targets. Enacting municipal regulations that encourage housing development is both an eligible initiative and an eligible expense.
With regard to part (b), annual installment payments for successful applicants will be conditional upon achieving growth.
With regard to part (c), municipalities will report annually on the number of permits issued and provide detailed progress updates on the implementation of their action plan Initiatives.
With regard to part (d), CMHC does not systematically track municipal housing policies; however, applicants will be required to demonstrate how their proposed systemic changes support the development of complete communities, the development of affordable, inclusive, equitable and diverse communities, and/or the development of low-carbon and climate-resilient communities. Applicants will also be required to have a current housing needs assessment during the program. The progress and implementation of these changes will be regularly monitored throughout the program duration.