The intent of this fund is to encourage the development of affordable housing. The City will use monies (generated from land sales and leases as well as other sources) to acquire lands suited to development opportunities that would include affordable housing. Land would then be leased or sold to builders, non-profit housing societies, developers and others to achieve projects that include a proportion of affordable housing. For non-profit rental housing that is subsidized by other levels of government, the City has committed to a $5,000 grant per unit provided. If it is new rental housing that meets the City’s requirements for affordability, but is not subsidized by other levels of government, there is a $2,500 per unit grant available.