Affordable Housing Seed Funding Opportunity | The Town of Collingwood

Collingwood, ON [05 June 2024] – The Town of Collingwood is pleased to announce a brand-new seed funding opportunity to help increase the supply of affordable housing in our community. New or existing housing organizations are invited to submit an expression of interest for up to $25,000 in seed funding.  

Increasing affordable housing supply in Collingwood is the objective, and this funding is intended to seed a non-profit or not-for-profit that can develop, own, and operate affordable housing in the community. 

Affordable housing has been identified as a key priority for Council and staff, as well as the Affordable Housing Task Force. With their support and the leadership from consultants N. Barry Lyon Consultants (NBLC) Ltd., the Affordable Housing Master Plan (AHMP), was developed and endorsed by Council in November 2023. The increasing demand for adequate, affordable housing supply has inspired this recent seed funding opportunity at the request of Council. The Town of Collingwood is currently more than 1,300 rental units short to support the current housing needs locally. Moderate income households are priced out of both the ownership and rental housing market, and a limited rental inventory increases prices, creating a constrained market with few options available. 

A non-profit or not-for-profit organization that can receive lands or units from donors, build new or renovate existing structures to create affordable housing, or take advantage of future financial incentives from all levels of government or via social financing, could potentially create opportunities for the development of affordable housing by and for the community using this seed funding. The Town is eager to receive submissions that embrace a collaborative and innovative approach to the use of this seed funding. 

“The housing issue cannot be solved by any one group alone. Providing seed funding a not-for-profit or non-profit housing group that can develop a community land trust, co-op or other innovative arrangement, and use government or social financing to build, own and/or operate affordable housing over the long-term would be an asset in our community,” said Mayor Yvonne Hamlin.  

The Town is proceeding with a Request for Expression of Interest (RFEOI) to solicit submissions from new or existing community organizations that are interested in this seed funding. Proponents will identify their needs, challenges, and preferences, which will assist the Town and the Affordable Housing Task Force in developing a set of recommended criteria for allocation of the seed funding. Eligible organizations must be a planned, new or existing charity, not-for-profit, non-profit, or community organization. 

Please review the Request for Expression of Interest and provide your submission by June 30, 2024 at 4:30 pm.