New housing bill could put $342M hole in Brampton budget and could stall developments: report

'Financially reckless': Community projects at risk from housing bill, mayor says backstop funding from province needed #Canada #CDN #OntNews #CDNNews

Slated to open in 2026, the Embelton Community Centre is one of many projects at risk due to changes under Ontario’s Bill 17, according to a City of Brampton report. (Photo: City of Brampton) It should be up to the province to “backstop” a looming $342 million hole in Brampton’s budget due to changes in Ontario’s latest housing bill, Mayor Patrick Brown and members of Brampton City Council say. Ontario’s Bill 17 received royal assent earlier th…

New housing bill could put $342M hole in Brampton budget and could stall developments: report

Brampton could end up with a $342 million hole in current and future budgets due to sweeping development changes and a provincial housing target that puts a priority on building "quantity over quality" projects, according to a new report.