Affordable Housing (Photo provided by the County)
Northern Bruce Peninsula is going to review some potential funding to protect long-term housing from shot-term rentals (STR).
The funding opportunity for municipalities and Indigenous communities comes from the Short-term Rental Enforcement Fund (STREF) through Housing, Infrastructure, and Communities Canada.
Deputy Clerk Lindsay Forbes says the fund aims to limit STR’s which take units away from the long-term housing market across Canada.
The one-time grant from STREF provides a max of $4.8 million over three years per project to ensure the availability of long-term housing, which must be used by the end of March, 2027.
“An application will be submitted on behalf of the Municipality of Northern Bruce Peninsula to address local housing needs in the community,” says Forbes.
Last year, the municipality amended its short-term accommodation licensing project to reduce the cap from 700 to 500.
Council will review this potential funding during its meeting on Jan. 13 at 1 p.m.