MISSISSAUGA, ONT. — The City of Mississauga has announced it is applying for $2.2 billion in funding for projects that will help unlock thousands of new housing units.
It will put forward five projects for the new Development Charges Reduction Program (DCRP). According to a release, Mississauga was one of the first cities in Ontario to reduce development charges to help get more homes built, which is a key component of the DCRP.
“The city’s decision to lower development charges – by up to 100 per cent – puts Mississauga in a strong position to receive funding under the program,” the release reads.
The DCRP is an $8.8 billion joint federal and provincial initiative aimed at increasing housing supply. The program provides funding to municipalities that lower development charges by at least 30 to 50 per cent.
Here are the five projects the city is putting forward:
Transit maintenance and storage facility ($650 million)
A new zero-emission facility will help MiWay switch its bus fleet to cleaner technology, expand capacity and improve transit service, the release notes. It will also support transit-oriented development by enabling approximately 9,900 new housing units by 2036.
Downtown transit mobility hub ($500 million)
This project will expand capacity at the City Centre Transit Terminal and prepare the network for future LRT ridership growth. It is expected to help enable 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.
Housing-enabling road infrastructure ($175 million)
A series of road and servicing upgrades across key corridors will help unlock development lands. The project is expected to support approximately 9,000 new housing units over the next decade.
Downtown music and convention centre ($500 million)
It could help enable up to 14,000 new housing units over the next decade.
If approved, the funding could cover up to 90 per cent of eligible project costs, the release adds.
