YORKTON — The City of Yorkton has amended a housing bylaw as it explores a potential federal funding opportunity to accelerate new housing construction.
City council approved changes to the Yorkton Housing Corporation bylaw that remove fixed-income and demographic requirements.
The update is intended to better align the bylaw with the corporation’s current operations and give it greater flexibility when applying for housing funding programs.
The update also comes as city administration and the Yorkton Housing Corporation are reviewing the federal Build Canada Homes initiative as a possible funding source for future housing projects in the community.
Build Canada Homes was announced by the federal government on Sept. 14 with an initial $13-billion commitment intended to help speed up the construction of new homes across the country.
Eligible projects include mixed-income developments that combine affordable non-market rental housing with market-rate units. Programs under the initiative also support rural housing, seniors’ independent living, supportive housing and affordable homeownership models.
To qualify for funding, projects must be shovel-ready and able to begin construction within 12 months, while also demonstrating secured land, financial planning and partnerships.
City officials say updating the housing corporation’s bylaw will help ensure Yorkton can meet program requirements if it decides to move forward with an application.
Removing the fixed-income limit from the bylaw means income thresholds will also not restrict the Yorkton Housing Corporation if different funding programs use different affordability definitions.
The Yorkton Housing Corporation currently manages several housing developments in the city, including Jubilee Crescent, Bradbrooke Drive, Independent Manor, Allan Bay Manor and Fromm Manor.
