Agreement between Ottawa and N.S. aims to improve housing supply

The province has signed a new 10-year agreement with Ottawa that will provide $318 million in the first five years to Nova Scotia’s municipalities.

The Canada Community-Building Fund provides up-front and predictable long-term funding to help address local infrastructure priorities such as drinking water, wastewater, public transit and community energy projects.

The Nova Scotia government announced the agreement with the federal government noting it is an important part of addressing the housing crisis and the renewal of this agreement will ensure the security of critical infrastructure.

According to John Lohr, Nova Scotia’s Housing Minister, partnerships like these can help build the critical infrastructure needed for new homes in the province.

In a release, the province said the fund is meant to be in line with Nova Scotia’s priorities of improving housing supply and affordability; as well as economic growth and a clean environment.

The fund has existed since 2005 and was formerly known as the Gas Tax Fund.