The City’s housing pledge under the $1.2B ($400M per year for 3 years) Building Faster Fund is to create 3,100 housing units over the next decade (average of 310 housing units per year) as part of the province’s goal to build 1.5 million homes by 2031. On July 1, 2023, the Ford government expanded Bill 3, Strong Mayors, Building Homes Act, 2022, granting strong mayor powers to the City of Belleville.
The Building Faster Fund (BFF) incentivizes municipalities by rewarding those that reach at least 80% of their annual housing targets, and additional bonuses for exceeding targets. For the purposes of BFF, process is measured through housing starts, conversions of accessory dwelling units, and new and upgraded beds in long-term care homes.
