Overview
- Prime Minister Mark Carney and Premier Doug Ford unveiled the $8.8 billion deal Monday in Toronto, splitting $4.4 billion each over 10 years through the Build Communities Strong Fund.
- The program lets cities cut development charges by up to 50% for three years, with governments estimating up to $200,000 off the price of a new home in reduced taxes and fees.
- Municipalities must opt in, commit to 30–50% reductions, submit priority infrastructure lists, and receive offset payments only when new homes begin construction.
- Key details remain unsettled, including which fees and housing types qualify and how guardrails will stop cities from shifting costs to other charges, a risk municipal groups say could land on property taxes.
- The announcement follows last week’s one-year HST break on new homes, and builders report a jump in buyer interest even as Ontario declines to set new targets or guarantee how many homes will be built.