Councilor Peter McKenna shared exciting news from Lanark County Council with Smiths Falls on Tuesday night.
“For the first time in my lifetime, the municipal, provincial, and federal governments are aligned on the housing crisis,” McKenna said, as he introduced his report on last week’s meeting of community services at Lanark County Housing. Lanark County approved a $3.8 million forgivable loan to Carebridge Community Support. This will partially fund the affordable housing apartment building planned for 44 Chambers Street in Smiths Falls, across from the Score and Giant Tiger. The new building will comprise 28 new units, which will “likely house 50 people or more,” McKenna explained. We are “delighted that our colleagues around the county council table agreed on this forgivable loan.”
McKenna explained why the money is being granted as a forgivable loan: if Carebridge in the future shifted away from affordable housing and began renting units at for-profit prices, the county would request repayment. He stressed that this is not something they expect: Carebridge is committed to ensuring affordable housing in the community.
McKenna noted that Lanark County also received $1.5 million from the provincial government for emergency shelters, supportive housing, and outreach and assistance for the homeless or insecurely housed.
“The county has an obligation with the province to provide over 770 units; we’re currently below that amount and this will go a long way toward meeting that target,” McKenna concluded.
What is affordable rent in Smiths Falls?