Photo/Town of Sylvan Lake Facebook page.
The Canadian Mortgage and Housing Corporation (CMHC) has awarded the Town of Sylvan Lake $540,000 to support building more homes faster.
Town council approved a motion for the Chief Administrative Officer (CAO) to finalize negotiations on the funding during a special meeting held on March 18.
The additional funding became available due to the town's progress on meeting the housing targets outlined in the initial Housing Accelerator Fund (HAF) agreement, and commitment to permitting more housing units through a new initiative under the Housing Accelerator Action Plan.
An update on the Housing Accelerator Action plan will be brought forward to council in April, which will include a detailed report on the town's progress in the first year.
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