Collingwood, ON [06 September 2024] – In June 2024, the Town of Collingwood announced a brand-new seed funding opportunity to help increase the supply of affordable housing. New or existing housing organizations are now invited to apply to receive up to $25,000!
Affordable housing has been identified as a key priority for Council and staff, as well as the Affordable Housing Task Force (AHTF). 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 Town of Collingwood is facing a deficit of more than 1,300 affordable units to meet the existing housing needs in our community. Moderate income households are currently priced out of both the ownership and rental housing market, and the limited rental options drive up prices, creating a constrained market with few options available.
Addressing the housing crisis and making sure there is enough affordable rental and ownership housing requires action and collaboration across the housing sector, including all levels of government, non-profit organizations, and private industry.
About the Seed Funding Opportunity
The objective of this funding opportunity is to increase affordable housing supply in Collingwood by offering seed funds to a non-profit or not-for-profit that can develop, own, and operate affordable housing in the community.
In June of 2024, the Town released a Request for Expression of Interest to solicit submissions from proposed new or existing community organizations that may be interested in this seed funding and to identify their needs/challenges/preferences, which ultimately assisted the Town and the AHTF in developing a set of recommended criteria for the seed funding that will set the receiving organization(s) up for success in the context of the objectives set out in the Affordable Housing Master Plan.
The Town and the AHTF have since developed parameters around the seed funding, including criteria for the allocation of the funds, submission requirements, an application and evaluation process.
Who can apply for Seed Funding
A new or existing non-profit or not-for-profit organization, or multiple organizations working in partnership, that can receive lands or units from donors, build new or renovate existing structures to create affordable housing, and/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.
How to apply for Seed Funding
Please review the Seed Funding Application and apply by 4:30 p.m. Friday, October 4th, To learn more about the application and Seed Funding opportunity, please contact Housing Development Coordinator, Claire de Souza at [email protected] or 705-445-1030 ext. 3242
This Seed Funding opportunity is just one of the ways Council is fulfilling the Town’s current role in addressing the affordable housing shortage in Collingwood. To learn more about the Town’s role and other Town initiated affordable housing initiatives please visit: https://www.collingwood.ca/affordablehousing
Want to talk with Council and staff in-person about affordable housing, this Seed Funding Opportunity and the relaunch of the Rapid Additional Residential Unit (ARU) Initiative 2.0.? Come visit the Town booth the Collingwood Downtown Farmer’s Market on Saturday, September 14th from 8:00 a.m. – 1:00 p.m.
