Ontario will receive $4.2 billion more over the next 10 years for affordable housing under the first of several funding agreements the federal Liberals plan to sign by the end of the year, reported The Canadian Press.
The provincial and federal governments say the money set aside under the Liberal government’s national housing strategy, as well as other already-promised funds, will aim to preserve 130,000 units of social housing.
The Liberals hope to sign funding agreements with all provinces and territories by the end of the year to determine how much each jurisdiction will receive under the national housing strategy, which aims to spend more than $40 billion on affordable housing over the next decade.