Investment in affordable housing
Ontario signed an agreement with the federal government to extend the investment in affordable housing program in August 2014. More than $801 million in funding will be available between 2014 and 2020 to improve access to affordable housing that is suitable and sustainable for households across Ontario.
2016 Social infrastructure fund
The 2016 federal budget announced the federal government’s Social Infrastructure Fund, which increased the funding commitment under the current Investment in Affordable Housing (IAH) program (totaling $168.3 million over 2 years):
- $67.2 million funding for the construction and renovation of affordable housing for seniors
- $209.3 million funding for the renovation and retrofit of social housing in 2016-2017
- $27.9 million funding for the construction and renovation of shelters and transitional housing for survivors of domestic violence
The Province is matching the increase to the IAH Program over a 3 year period, resulting in over $640 million in new housing funding through the 2016 SIF for Ontario.