The Housing Accelerator Fund (HAF) is a federal program run by the Canada Mortgage and Housing Corporation (CMHC) to accelerate the construction of more housing.
The City is eligible to receive $10.69M in funding over three years (2025-2027) through the HAF. The City has already received funding for Year 1 in the amount of $2.67M. Years 2 and 3 of funding is contingent upon the City meeting the milestones in its Action Plan and housing target of 1,410 housing units. Of the 1,410 housing units, 356 units are fast-tracked and incented by the HAF funding and 244 housing units are targeted as affordable.
By way of agreement, the City committed to permit 1,410 housing units between January 1, 2025 and December 31, 2027 and to accelerate permitted units by implementing the City's Action Plan and initiatives. Details regarding the City of Peterborough's HAF Action Plan and initiatives is available below. The HAF grant will cover the cost of implementing these initiatives.