Lethbridge was denied funding from the Canadian Mortgage and Housing Corporation’s Housing Accelerator program.
“This is disappointing news as the City could have been eligible for $6.25 million which would have been a significant boost in helped address housing concerns in the community,” reads a news release from the city.
According to the news release, the CMHC cited competition in the grant process as a barrier to the city getting its share and “that successful applicants demonstrated more ambitious approaches to implementing structural and lasting reforms to increase the supply of housing.”
The Housing Accelerator fund was created in 2023 and is specifically meant for municipalities. It requires applicants commit to at least seven action plan initiatives that systemically reduce local barriers to housing development, while also committing to an increase to the community’s housing growth rates.
The City’s application addressed eight action plan initiatives with the goal of increasing the community’s growth rate by 15 per cent.
“City administration will continue to seek out opportunities to advance housing options in Lethbridge, incorporating these ideas into an updated Municipal Housing Strategy expected to come forward to City Council later this spring,” the city says.