NEW: City calls for provincial, federal funding to address COVID-19 'hangover.'
This year, Toronto is seeking $423 million from the federal government to help with its pandemic-related shortfall as well as more money to support newcomers and refugees, an area of federal responsibility.
through the improvement of the Rental Construction Financing Initiative and the Co-Investment Fund, entering into a memorandum of understanding with the city to “secure funding and financing for sites and increasing grant funding to the programs to deepen affordability and respond to the high cost of construction in Toronto,” and working towards a stable, multi-year plan to help end chronic homelessness in Toronto and meet HousingTO’s 2020-2030 targets.
When it comes to supportive housing, the city is seeking an additional $48 million in provincial funding for wrap-around services for 2,000 vulnerable residents. “Substantial reductions to the City's capital spending will undermine our ability to build more housing – especially in transit-oriented communities – which will be absolutely essential to helping the Province achieve its goal of building 1.5 million new homes across Ontario within 10 years,” she said.
“These are urgent matters which affect not only Toronto, but all of Ontario, and they are of central importance to addressing the housing crisis,” she said in her letter to Bethanfalvy.
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