Community Improvement Plan: Affordable and Sustainable Housing

Like many Ontario municipalities, housing in Penetanguishene has become increasingly expensive in recent years. The average price of a house in Penetanguishene has more than doubled in the past seven years. Rising house prices and rents can also make it difficult for residents to find housing they can afford, with negative outcomes for both individual and community wellbeing.

To address these troubling trends, the Town would like to introduce an Affordable and Sustainable Housing Community Improvement Plan (CIP) with a focus on providing financial assistance for affordable and sustainable housing developments. CIPs are permitted under Section 28 of the Planning Act and are intended to encourage rehabilitation initiatives and/or stimulate development by allowing municipalities to direct funds and implement policy initiatives toward a specifically designed project area. Once a CIP is established, a municipality can provide financial assistance in support of its CIP policy goals. In the case of an Affordable and Sustainable Housing CIP, the CIP would allow the Town to provide financial assistance to support the provision of more affordable and sustainable housing.

CIPs can be powerful tools to support the provision of more affordable housing, however it is important that they are designed properly based on local context to achieve their intended outcome. The Town of Penetanguishene Affordable and Sustainable Housing CIP will need to consider:

1. Current housing needs in the community based on household type, incomes, existing housing stock, and current rents/prices.

2. The definition of “affordable housing” to be used in the CIP to meet affordable housing needs.

3. Specific affordable housing, sustainability and other Town objectives to be addressed by the CIP.

4. Potential CIP incentives and/or programs to support the development of affordable and sustainable housing.

5. Ensuring affordable housing procured through the CIP remains affordable for the long-term.

6. The costs and benefits to the CIP.

7. An implementation plan and monitoring measures to assist with CIP program evaluation.