Peachland council is hoping to access up to $9 million through the federal government to encourage housing builds in the community.
At a special meeting Tuesday (Aug. 1) council directed staff to apply to the Housing Accelerator Fund (HAF) with an action plan the district predicts will increase housing choice.
Peachland could potentially access approximately $5 million in base funding and an additional $4 million if top-up funding targets are reached.
The HAF provides incentive funding to local governments encouraging initiatives that remove barriers to the housing supply.
Applications need to include a plan with predicted growth targets above what a community would typically grow.
Peachland’s application includes five initiatives:
- Downtown Redevelopment Implementation Strategy – initiative underway, anticipated completion in 2024;
- Development Approvals Process Improvements – initiative underway, further improvements recommended;
- Missing Middle Strategy and Infrastructure Capacity Review;
- Encouraging and Incenting Secondary Suites and Accessory Dwelling Units;
- Affordable Housing Reserve Fund and Affordable Housing Policy.
The funding could also be used to upgrade infrastructure to facilitate housing, support affordable housing, acquire land and build amenities to support growth.