Coronation town council has passed a motion to apply for the Housing Accelerator Fund during their July 10 meeting.
The Housing Accelerator Fund incentivizes local governments to encourage increasing housing supply.
According to Chief Administrative Officer Quinton Flint, the grant will be used alongside the Canada Mortgage and Housing Corporation loan, aiming to get as much money as they can from the grant.
The money will be used to cover operating costs for the project and housing assessments for the 24 housing units council is planning to build.
“We are trying to build 24 affordable housing units,” said Flint.
The town is currently in the process of ironing out the details as they are not sure on a location, timeline or design for the housing units at this time.
Flint explained they are looking to see what funding they can get before starting the project.
Council has taken a proactive step towards supporting the growth of their community by prioritizing efficient resource allocation. Flint presented the information to the council.
Council has decided to schedule three dedicated dates for budget discussions.
The council aims to thoroughly review proposed plans, address concerns and make well-informed decisions regarding allocating funds for various projects and initiatives in the upcoming fiscal year.
Council members propose conducting a series of sessions to encourage comprehensive examination and constructive dialogue. This approach fosters transparency, active participation and a well-informed decision-making process.
Council has decided to schedule three meetings starting Aug. 9 only proceed with the second and third meetings, Aug. 16 and 23, if needed.
The council’s objective is to engage in collaborative and productive discussions on the 2024 budget items, enabling them to make responsible financial decisions that align with the vision and aspirations of the Coronation community.