While at the AMO conference, Premier Ford announces new financial incentives for meeting or exceeding housing targets as well as more mayors getting strong mayor powers.
Our municipality is too small to get these targets although we are on track to grow by over 5000 homes (including rentals) over the next three years. We’ve managed to clear up the backlog in our “growth department” but now we see development stalling due to the cost of borrowing and the cooling of the housing market. We’re approving development and working hard to grow but we can’t force approved developments to put shovels in the ground. High cost of living, high cost of borrowing and the cost of raw materials are all beyond our control. However, we’re down here at the AMO Conference looking for funding sources for our growth, waterfront re-development and to replace our aging infrastructure.