Northern Ontario Town Offers Land for Just $10 to Boost Housing and Attract Families!

The town of Cochrane in Northern Ontario is considering an incentive program to boost housing in the area. Here are the key points:

  • The Town of Cochrane is exploring the possibility of selling land at significantly discounted prices to stimulate housing development.
  • Mayor Peter Politis mentioned that the town council has approved the idea of selling land at extremely low prices, potentially as low as $10 per property.
  • Along with the land discount, the incentive program might also include a waiver of property taxes on new homes for a specified duration.
  • The primary goal of this initiative is to attract families and skilled workers to the town. Industries in the area are in need of workers, and the town sees an opportunity to assist young families in achieving homeownership.
  • Mayor Politis emphasized the potential for young individuals, who might have given up on the idea of owning a home, to realize the “Canadian dream” of homeownership in Cochrane.
  • The town of Smooth Rock Falls, located just north of Cochrane, has previously made headlines for selling land at $500 since 2017. However, Cochrane’s program aims to go a step further by also offering property tax incentives.
  • The program is part of a broader effort to promote the Highway 11 corridor and foster growth in the region.
  • Danny Whalen, the president of the Federation of Northern Ontario Municipalities, welcomed new housing initiatives in the region. However, he cautioned that sacrificing immediate revenue for potential long-term benefits can be risky.
  • The town aims to finalize its new housing incentive program in the coming month, with plans to launch it in January of the following year.

READ MORE HERE: northernontario.ctvnews.ca/northern-ont-town-considers-selling-land-for-10-to-boost-housing-1.6617196