Kincardine to aid developers for affordable housing projects

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News

By Barb McKay

Kincardine council is putting money behind its commitment to create more affordable housing by using a reserve fund to assist developers.

During its meeting last Wednesday, council agreed to use a portion of a reserve fund established for affordable housing to reimburse builder Tom Kerr $3,847.29 in building permit fees for a six-unit development at 343 Kincardine Avenue. The reserve fund, containing $49,365, was established following the sale of municipal land in October 2011.

“I think it’s a good use of the reserve fund and we’ll be able to spread it over a number of projects,” said councillor Maureen Couture.

Councillor Candy Hewitt said refunding building fees for affordable housing projects is a great way for the municipality to get involved.

“It’s an appropriate use and I would encourage more funds be used towards this. It’s a good way for us to promote affordable housing in Kincardine.”

Councillor Ken Craig said the municipality had made a commitment to support affordable housing in any way it could. He said it would interesting if there was a mechanism to inject money back into the reserve fund for projects down the road. Couture said there is no reason an allocation to the reserve fund couldn’t be put on the budget each year.