Premier Doug Ford made a significant announcement at the 2023 Association of Municipalities of Ontario (AMO) Conference, held at the RBC Place in London, Ontario. He unveiled the groundbreaking $1.2 billion Building Faster Fund, designed to bolster municipalities in their efforts to expand housing availability. This substantial funding will be disbursed over a three-year timeline, commencing in 2024-25. The paramount focus of this initiative is to enhance housing supply and affordability, aligning with the top priorities of municipalities across Ontario.

Colin Best, the President of AMO, emphasized the necessity of municipal investment in essential infrastructure components like water and wastewater systems, roads, parks, and emergency services. These investments play a pivotal role in meeting the province’s ambitious goal of constructing 1.5 million new homes by 2031. This move is regarded as a crucial step in bridging the gap in municipal infrastructure funding, which was exacerbated by the effects of Bill 23.

Ontario’s municipalities oversee a staggering $500 billion worth of infrastructure systems, with nearly $12 billion invested in these assets in 2021. To address shortfalls caused by changes to the Development Charges Act, additional funding of at least $1 billion annually is estimated to be necessary.

The majority of the funding will be directed towards Ontario’s largest and fastest-growing municipalities, linked to their performance against housing targets established by the province and endorsed by municipalities earlier in 2023. Smaller municipalities without specific housing targets will also have access to a portion of the funding.

Furthermore, the province has committed to collaborating with AMO and municipal representatives to fine-tune program details and support implementation.

This announcement transpired amidst the 2023 AMO Conference, attended by over 2,000 participants from August 20 to 23 in London. This event offers a crucial platform for municipal officials to collaborate with the Ontario government in devising solutions for contemporary challenges. With more than 60 speakers, sessions, and workshops, the conference mirrors the broad spectrum of municipal responsibilities and priorities.

• 
•