TO THE LEGISLATIVE ASSEMBLY OF ONTARIO:
WHEREAS Ontario is in the midst of a housing crisis and 1.5 million new market and non-market homes must be built in the next decade to ensure an adequate supply; and
WHEREAS nearly 40% of Ontario households spend more than 30% of their income on housing, and 15% of Ontario households spend more than 50%; and
WHEREAS a Scotiabank report found households in Ontario’s first income quintile would need an additional $1,000/month to afford a two bedroom rental apartment in the current market, and households in the second quintile would need an additional $600/month; and
WHEREAS everyone has the right to safe and affordable housing, to live in the community they want to live in;
THEREFORE WE THE UNDERSIGNED petition the Legislative Assembly of Ontario to fix the housing crisis by creating a new public agency, Homes Ontario, to meaningfully address this issue by:
- Establishing a $15 Billion Fund: In collaboration with the CMHC, create a revolving fund to finance the construction of new nonmarket rental homes.
- Building 250,000 Affordable Homes: Over the next ten years, build at least 250,000 new affordable and non-market homes on public land across the province.
- Rehabilitating Aging Housing: Fund the rehabilitation of aging affordable housing in partnership with federal and municipal governments.
- Supporting Deeply Affordable Housing: Provide capital subsidies and public land for nonmarket housing intended to be deeply affordable.