The Town of Cobourg is moving ahead with an application to a new federal-provincial housing infrastructure program that could unlock millions of dollars for growth-related projects while reducing development charges on new residential construction.
At a special meeting, council voted 6-1 in favour of applying to the Canada-Ontario Partnership to Build program, part of the federal Build Communities Strong Fund. The initiative encourages municipalities to reduce residential development charges in exchange for infrastructure funding that supports housing construction.
Director of Development Chris Challenger said the program is focused on one outcome: getting more homes built.
Town staff told council eligible projects could include water, wastewater, transportation and stormwater infrastructure identified in Cobourg’s development charge background study.
One of the key points raised during the discussion was the impact development charges have on housing costs. Challenger noted that while the fees help municipalities pay for growth-related infrastructure, they ultimately become part of the cost of housing.
Council also heard that approving the application does not commit the municipality to participating in the program. If Cobourg is successful, the province will provide a draft funding agreement for council to review before any final decision is made.
Town staff say the province is expected to issue funding decisions and draft agreements later this summer. If approved, the program could help fund critical infrastructure projects needed to support future housing growth while reducing costs associated with new residential development.
(Written by: Joseph Goden)
