en.Wedoany.com Reported - The City of Mississauga, Canada, announced it will submit five projects for the new Development Charges Reduction Program (DCRP).
The DCRP is a core component of the Canada-Ontario Partnership, an $8.8 billion joint initiative aimed at increasing housing supply. The program provides funding to municipalities that reduce development charges by at least 30% to 50% and advance projects that help accelerate housing construction.
Mississauga will submit the following five projects for DCRP funding.
Transit Maintenance and Storage Facility ($650 million)
A new zero-emission facility will help MiWay transition its bus fleet to cleaner technology, expand capacity, and improve transit service. The city says the facility will also promote transit-oriented development by supporting the construction of approximately 9,900 new housing units by 2036.
Downtown Transit Hub ($500 million)
This project will expand the capacity of the downtown bus terminal and prepare for future light rail transit ridership growth. The city says it will improve connectivity and accessibility to higher-order transit and make it easier to build high-density housing in the downtown core. It is expected to help build approximately 9,900 new housing units by 2036.
Library and Community Centre Projects ($175 million each)
Two net-zero community centres and libraries in Mississauga Valley and Cooksville will help expand recreation and library services in some of the city's fastest-growing communities. According to the city, these projects will help ensure community infrastructure keeps pace with significant growth and development.
Housing-Enabling Road Infrastructure ($175 million)
A series of road and service upgrades along major corridors across the city will help increase capacity and support growth. These investments will also help unlock development land. They will reduce congestion and connect new communities to transit and services. According to the city, the project is expected to support approximately 9,000 new housing units over the next decade.
Downtown Music and Convention Centre ($500 million)
This project will stimulate growth by attracting investment and supporting a vibrant, transit-oriented downtown. It will make it easier to support high-density housing and continued development, and could facilitate up to 14,000 new housing units over the next decade. These projects include a range of housing-enabling infrastructure and city-building works that support complete communities prioritizing housing, jobs, services, and transit.
In addition to reducing development charges, Mississauga has introduced a series of housing-focused measures to support new development and improve affordability.
Guided by the Mayor's Housing Task Force report, highlights include incentives for affordable rental housing, encouraging more housing construction citywide, tools to help homeowners add new units, streamlining the development process, and tax breaks to encourage rental development.
If the city's DCRP application is approved, the funding could cover up to 90% of eligible project costs. This would allow the city to advance projects that support housing growth and provide infrastructure and community benefits for residents and businesses.
"We have been pioneers in taking bold action to reduce development charges. This is necessary to build more housing and make it more affordable. Waiting is simply not an option," said Mississauga Mayor Carolyn Parrish. "It is encouraging to see the federal and provincial governments recognizing Mississauga's innovative approach. We are confident that the projects we have submitted will receive funding. They support critical infrastructure that will drive growth in our city while delivering broader benefits for the entire province."
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