CBRM putting forward four housing projects for eligibility approval
March 13, 2023
SYDNEY, NS - Cape Breton Regional Municipality will seek feedback from CMHC (Canada Mortgage and Housing Corporation) on the eligibility of four housing proposals submitted to the municipality for “Rapid Housing Initiative” funds. The RHI Cities stream includes $5 million of available funds for an eligible project or projects in CBRM.
Council voted to reject a staff recommended project on March 7, but additional efforts resulted in further options for CBRM to move forward with Rapid Housing Initiative Round 3 funding.
CMHC has advised they are willing to work with CBRM to assess each of the applications received for eligibility and viability and provide feedback. CBRM staff are currently submitting all 4 applications in draft form to the CMHC submission portal by a deadline of March 15.
Staff are also continuing communications with the provincial government on supports available to support applications.
CBRM Council will be required to make a decision on final project approvals by the end of March in order keep in line with project start dates of May 2023.