© Calgary Star

Calgary bureaucrats are looking to renew funding they believe helped non-profits speed up affordable housing project starts over the past two years.

Approved in 2016, the $6.9 million Housing Incentive Program (HIP), funded through the economic resiliency fund, offered non-profit organizations up to $50,000 to cover pre-development activities and a rebate on all City of Calgary development fees for affordable housing projects.

The program has been fully awarded since 2017 and the city’s already looking to extend funding in the next budget cycle after the incentive expires in 2019. The fund has allowed more than 2,000 units of affordable housing starts.

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