Waterloo Regional Council approves 2 measures to create more affordable housing in area

The Region of Waterloo's administration building in Kitchener. Nick Westoll / File / Global News

Waterloo Regional Council approved two measures on Wednesday night in a bid to create new affordable housing in the area.

In one measure, council approved a measure which would allow the region to enter into an agreement with the Canada Mortgage and Housing Corp. which will see new funding arrive from the federal government for affordable housing.

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When asked, the region said that the amount of money it will receive remains under embargo from the federal government.

The funding will come from the Rapid Housing Initiative and must be spent on new permanent units within 18 months.

The region says that previous rounds of funding from the Rapid Housing Initiative have led to the creation of 147 new affordable homes across the area.

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In addition, council also approved the donation of surplus property to support the non-profit organization Love Your Neighbour Communities (LYNC) to create 29 affordable housing units in New Hamburg.

The region says a plan has been developed by LYNC to create the market rent units at 34 Peel Street.

It says that the commitment from the region will allow LYNC to seek planning approval and funding as well as to begin fundraising.


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