On the eve of a debate on declaring a homelessness emergency at Ottawa city council, the mayor says “urgent investment” is needed from all three levels of government.
A memo issued late Tuesday, signed by Mayor Jim Watson and councillors Jenna Sudds and Catherine McKenney, reviews the past six years of the city’s plan to address homelessness in the capital, and calls for the strategy to be refreshed.
The memo proposes that in the next 10 years, the city create at least 5,700 affordable housing spaces, both through building new units and providing housing subsidies, while making sure that 20 per cent of those units are dedicated to supportive and accessible housing. The memo also calls for the existing stock of community housing to be preserved.
The memo also includes even more ambitious proposals from the city’s draft version of its refreshed 10-year housing and homelessness plan; reducing overall homelessness by 25 per cent, and fully eliminating “unsheltered homelessness,” or people living on the streets.
“Urgent investment from all three levels of government is needed to increase the affordable housing supply and create new housing subsidies to help people maintain their housing,” the memo said. “Although the City has invested in capital and operating funding for new supportive housing, the supportive housing waitlist remains over 12,000 people.”
The city plans to spend $109.2 million on addressing homelessness this year, with provincial funding expected to amount to $42.8 million and federal funding $26.6 million.
The full draft 10-year plan will be submitted to the province for its consideration, Thursday, with 90 days for the province to review and comment. The plan would then go to committee and council in March.
City council will debate a motion from Councillor McKenney, Wednesday, that the city declare an affordable housing and homelessness emergency, to acknowledge that the city does not possess the resources to manage the problem by itself.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
