Housing Accelerator Fund

Implementing projects as part of the town’s Housing Accelerator Fund application.

The Canada Mortgage and Housing Corporation (CMHC) launched the Housing Accelerator Fund (HAF) program in spring 2023. The program was introduced in the 2022 Federal Budget with a funding allocation of $4 billion until 2026-27.

The purpose of the HAF program is to remove barriers to encourage local initiatives to build more homes, faster. The program intends to help increase housing supply and support the development of communities that are more affordable, diverse and climate-resilient. 

The objective of the HAF program is to accelerate the supply of housing across Canada, resulting in at least 100,000 more housing units permitted nation-wide than would have occurred without the program. 

Background

More background information on the HAF program can be found in previous staff reports to town council:

Application and action plan

The HAF is an application-based program. In summer 2023, the town submitted a HAF application to CMHC that included a Council approved Action Plan containing seven initiatives – a requirement of the program. Subsequent communications between the town and the federal government identified additional measures for improving the town’s HAF application.

Below is a list of the Action Plan initiatives that form part of the town’s HAF application. Several initiatives are already underway and can be accessed by the links below: 

  1. Adopting new policies in the town’s Official Plan to encourage and enable innovative housing solutions.
  2. Permitting additional dwelling units, including as-of-right permissions for four dwelling units per residential property town-wide and promotional programs to bring attention to these opportunities. 
  3. Identifying and developing surplus town lands for housing. 
  4. Completing infrastructure studies and plans to enable development sooner around the Bronte GO Station.  
  5. Completing the Midtown Oakville Growth Area review and Official Plan Amendment.  
  6. Updating the zoning by-law to permit as-of-right intensification permissions, including permitting intensification opportunities around Sheridan College with four storey buildings.  
  7. Improving the development application process with digital enhancements. 
  8. Establishment of a Housing Secretariat Office to facilitate the implementation of these housing initiatives. 
  9. Delegating minor zoning amendments to staff to streamline the development process.  
  10. Developing a gentle density strategy to identify criteria to assess properties for conversion to mixed use and commercial properties that meet this criteria.  
  11. Completing a Housing Needs Assessment report.

Funding

HAF funding is tied to the Action Plan initiatives and the number of net-new building permits issued from the initiatives over the three-year program window: 

  • Program initiatives must be completed within the three-year HAF program window to receive full funding. 
  • Funds are paid in installments and are advanced based on completing the initiatives from the application. 
  • The first payment is made on the date the contribution agreement is signed between the town and the federal government. 
  • The remaining payments occur annually with the fourth and final installment based on whether the municipality achieved the targets outlined in the application.

HAF funding can be invested in project under these categories: 

  1. Housing Accelerator Fund Action Plans 
  2. Affordable Housing 
  3. Housing-Related Infrastructure 
  4. Community-Related Infrastructure that Supports Housing 

The permitted uses of HAF funds are broad, and the allocation of funding is at the town’s discretion. The town intends to allocate HAF funding to support the Action Plan initiatives and growth related infrastructure projects that are in line with the permitted uses of the funds.

Council motion

In response to the federal government’s additional measures for improving the town’s HAF application, on January 22, 2024, the following motion was passed by Council: 

  1. In support of the Housing Accelerator Fund Application, as advised by Minister Fraser with due regard for heritage conservation and infrastructure capacity and servicing: 
    • That staff be directed to bring forward a zoning by-law amendment to permit four units per property, as-of-right for Council’s consideration within 90 days of the passing of this resolution; and 
    • That staff be directed to bring forward a zoning by-law amendment permitting four storeys within 800 metres of Sheridan College for Council’s consideration within 90 days of the passing of this resolution; and 
    • That staff be directed to bring forward a zoning by-law amendment for Sheridan College that will bring zoning regulations into alignment with the Town’s Official Plan. 
  2. That the Mayor respond to the Minister of Housing, Infrastructure and Communities’ office with any update to the Housing Accelerator Fund application including the appropriate resolutions of Council by January 24, 2024. 

To address Council’s motion on items requiring a 90 day consideration, and to secure the funding from HAF, town-initiated Official Plan Amendments and Zoning By-law amendments have been drafted. 

Four dwelling units per property

Sheridan College housing area – Special policy area

Contact

Brad Sunderland MCIP, RPP
Senior Planner
905-845-6601, ext. 3043
brad.sunderland@oakville.ca