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Government will consider request to repeal Hazel McCallion Act and $450M in interim funding for the Peel Region

Until Peel Region can smoothly return to the capital markets, the Regional Council requested that the Housing Minister arrange $450 million in interim financing by October 2024.

Published Jul 23, 2024 at 8:06pm

Barbara Patrocinio
By
Barbara Patrocinio
Government will consider request to repeal Hazel McCallion Act and $450M in interim funding for the Peel Region
Paul Calandra, Ontario Minister of Municipal Affairs and Housing takes questions from journalists after tabling a bill to return parcels of land to Greenbelt, at Queen's Park in Toronto on Monday, October 16, 2023. THE CANADIAN PRESS/Chris Young

The mayors of the Peel Region are warning the province about the area's ability to borrow money for infrastructural projects and asking for the repeal of the Hazel McCallion Act.

Mayors Carolyn Parrish of Mississauga, Patrick Brown of Brampton, and Annette Groves of Caledon wrote to the provincial government saying that Peel Region cannot currently access $450 million in financing, an amount critical for various projects, including $250 million needed for housing development, $100 million for the Peel Police and $100 million for capital projects in Mississauga and Caledon.

The Peel mayors warned that the region would continue to face a “liquidity crisis that will delay and place at risk important infrastructure investments,” and proposed three requests to fix their financial constraints.

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