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The City of Winnipeg has successfully fulfilled the obligations outlined in its Housing Accelerator Fund (HAF) agreement and has received the anticipated payment of $30.6 million from the Canadian Mortgage and Housing Corporation (CMHC).
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This funding will be utilized by the city to implement its eight Action Plan Initiatives, which are designed to expedite development and enhance the availability of affordable housing in Winnipeg.
This payment represents the second of four scheduled disbursements that constitute the city’s $122.4 million HAF agreement with CMHC.
According to the terms of the agreement, the city is tasked with facilitating the creation of a total of 14,101 housing units by 2027, which must include a minimum of 931 affordable housing units. The target of 3,733 building permits in the first year of the program was surpassed with a total of 4,307 permitted housing units.
“Exceeding our housing targets in the first year shows we’re delivering on our commitment to address Winnipeg’s housing crisis,” said Mayor Scott Gillingham. “This second round of funding confirms our progress, and the early public release of our annual report to CMHC — nearly a year ahead of deadline — underscores our transparency and accountability.”
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“There is a lot of momentum being built, quite literally, in response to the housing crisis here in Winnipeg,” said Sherri Rollins, Chairperson of the Standing Policy Committee on Property and Development. “Receiving this installment will allow that response to grow as we use these funds to support local development efforts. I know that city staff have been working tirelessly to meet the targets of our ambitious program initiatives, and I applaud them for achieving those targets to date.”
One of the conditions required by the CMHC was the submission of all program activities to date. That submission listed the milestones and progress updates that the city set for the eight Action Plan Initiatives. The information submitted by the city of Winnipeg is now available at winnipeg.ca/HAF.
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