The City of Peterborough has received $1.88 million in infrastructure funding from the provincial government for exceeding the 2023 housing targets outlined in the Provincial Building Faster Fund.
The funding will help Peterborough taxpayers by offsetting the cost of infrastructure needed for these new units.
Mayor Jeff Leal attributed bettering the target to local home builders, developers, and City Hall staff who moved applications through as quickly as possible.
"We have a number of very important projects where we will invest this money and improve our infrastructure, which will allow us to build more homes and apartment units," he said.
Municipalities who meet their goals will continue to receive infrastructure funding each year, though the amount varies based on their progress and that of other municipalities.