Utoo Radio and Other News Sources - April 2, 2024 - Justin Trudeau’s $6-billion federal housing program would compensate provinces and territories that take certain housing supply measures.

Trudeau's Halifax statement Tuesday comes one week before his government's April 16 federal budget.

To develop additional homes, $6 billion is being spent on water, sewer, storm water, and solid-waste infrastructure, with $5 billion going to provinces and territories that meet certain promises.

They require towns to approve duplexes, triplexes, and townhouses as “missing middle” residences and embrace four units as-of-right.

A three-year hold on increasing development levies from April 2 levels for municipalities over 300,000 is also required.

Another action is adopting upcoming National Building Code revisions to enable more accessible, affordable, and climate-friendly housing options and enacting Home Buyers' and Renters' Bills of Rights.

The Prime Minister recently unveiled the renters' bill of rights, which would oblige landlords to reveal a clear apartment pricing history and create a national standard lease agreement.

Provinces and territories have until Jan. 1 and April 1, 2025, respectively, to reach an agreement.

The plan states, without explanation, that if a province or territory fails to reach an agreement by their deadline, their funding will be shifted to the municipal stream.

Trudeau also said the new measures will contribute $400 million to the Housing Accelerator Fund, which offers federal funding to increase affordable housing supply.

The announcement stated the investment will accelerate 12,000 new dwellings over three years.

The fund now has $4.4 billion, supporting 179 Canadian agreements.