Prince Edward County Council will consider loaning $5 million to the Prince Edward County Affordable Housing Corporation at its regular meeting Tuesday.
The loan will cover shortfalls in the affordable housing corporation’s budget, after an application for funding through the federal housing accelerator fund was rejected.
Funds from the loan are to be used towards establishing two properties with affordable rental units – 40 at 230 Niles Street in Wellington, the site of the former Wellington arena, and 12 units at 30 Disraeli Street in Picton.
