Rothesay is hoping to spur the development of more housing in the town over the coming years.
Staff have prepared an application for more than $5.6 million through the Housing Accelerator Fund.
On Monday, council voted to approve the application and submit it through the federal program.
Mayor Nancy Grant said they are looking to fund a total of eight initiatives, including:
- e-permitting and case management;
- promoting residential density within walkable commercial areas;
- updating infrastructure planning;
- delegating development approval;
- promoting missing middle infill development;
- creating affordable housing density bonuses
- resourcing surplus public lands for affordable housing; and
- encouraging accessory dwelling units.
“We’re cautiously optimistic that some resource would come to us and we would be bringing back specific programs to you before any of this money is advanced,” town manager John Jarvie told council.
Rothesay is not the only municipality in the region that has submitted applications to the program.
Quispamsis has applied for $9 million while Saint John is seeking $15 million in funding.
The $4-billion fund, which is handled by Canada Mortgage and Housing Corporation, has a goal of creating 100,000 more housing units across the country.
Funding announcements are expected in the fall and, if the communities are successful, initial funding should be handed out before the end of the year.
