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28 October 2020
Ottawa has created a new housing fund to pay for the construction of 3,000 permanent new homes for Canadians considered to be the most vulnerable.
The federal government announced its Rapid Housing Initiative on Tuesday, Oct. 27. The $1-billion fund is dedicated to building new modular, multi-unit rentals or for renovating buildings in disrepair into multi-residential homes.
The fund is divided into two $500-million streams: one for a list of pre-determined municipalities and another fund targeted at provinces, territories, Indigenous governing bodies and non-profit organizations.
Nunavut and other northern regions are only eligible for the latter stream.