City Of Cold Lake Approves Funding For Rental Housing Incentive Program

Cold Lake City Council has approved over $500,000 from its surplus to help fund a rental housing incentive program. The program, which started in March, offers grants up to $1 million to encourage developers to build new rental units. This move aims to address the city’s housing shortage. The program has a cap of 100 units and will run for a year or until the funds run out. The goal is to reduce the demand for rental housing by giving rebates to developers after their projects are complete.