York Region, near Toronto, Canada, closed 2024 with a $71.4 million operating surplus, driven by higher revenues and lower-than-expected spending. Regional staff proposed allocating $10 million to the Social Housing Development Reserve, aimed at expanding community housing. Stouffville Mayor Iain Lovatt pushed that amount higher, securing a total of $45.1 million for affordable housing—enough to support around 75 new units, according to staff estimates. Councillors stressed the urgency of tackling the region’s housing crisis and urged provincial and federal governments to match the funding. The remaining $26.3 million will be directed to the Tax Levy Development Reserve to help offset costs related to provincial mandates. Read the full story here.