Canadian Funding Corp. Reviews CMHC Statistics

Moishe Alexander has been watching the CMHC pursuits regarding renovations and retrofits. The Governments of Canada and Newfoundland and Labrador today announced that $12.2 million in renovation and retrofit work on 822 Newfoundland Labrador Housing units, as well as co-op and non-profit housing properties on the Avalon and Burin Peninsulas, is making a significant difference to these homes.

Delighted by the funding which was made available through Canada’s Economic Action Plan, Moishe Alexander says that is a federal plan to stimulate the economy and create jobs during the global recession. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. The federal and provincial governments are contributing equally to this overall investment of $58 million under the amended Canada – Newfoundland and Labrador Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

Avalon and Burin Peninsulas video put up by Moishe Alexander

The funding is being used for items such as the replacement of roofing, siding, windows and doors, and a complete retrofit of the interior, which can include the replacement of flooring, drywall, doors, kitchen and bathroom cupboards, flooring, counters and fixtures such as tubs, sinks and showers. The investment will significantly extend the life of these structures for future use.

As part of Budget 2010: The Right Investments — For Our Children and Our Future, the Provincial Government is investing $27 million for housing infrastructure projects, affordable housing and increased maintenance funding over the coming fiscal year. This renovation and retrofit work is in keeping with the goals of the Provincial Government’s Social Housing Plan for Newfoundland and Labrador — Secure Foundations, which outlines a new long-term vision for social housing aimed at improving the housing circumstances of lower-income households and helping to create healthier communities. A copy of the social housing plan is available at www.nlhc.nl.ca/SocialHsingPlan/report.pdf

The Honourable Fabian Manning, Senator for Newfoundland and Labrador, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) and the Honourable Tom Hedderson, Minister of Transportation and Works and Minister Responsible for Newfoundland Labrador Housing (Housing), made the announcement today.

“Through Year 2 of Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most here in Newfoundland and Labrador,” said Senator Manning. “That’s why we are proud to have invested in the renovation and retrofit of these units, which will go a long way to providing safe, affordable homes for years to come.”

“Investing in our social housing infrastructure is a priority of the Williams Government and is part of our new long-term vision for social housing throughout the province,” said Minister Hedderson. “This renovation and retrofit work increases the longevity and energy efficiency of our existing housing portfolio and enables us to continue making more affordable social housing options available for Newfoundlanders and Labradorians as our government works towards its ultimate goal of eliminating poverty throughout the province.”

Moishe Alexander of Canadian Funding Corp. applauds the funding of approximately $4.8 million for 40 new affordable housing rental units for seniors and persons with disabilities was announced today.

The Honourable Lisa Raitt, Minister of Labour and Member of Parliament for Halton, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), Kevin Flynn, Member of Provincial Parliament for Oakville, on behalf of Jim Bradley, Ontario’s Minister of Municipal Affairs and Housing, Gary Carr, Halton Regional Chair along with Gordon Krantz, Mayor of the Town of Milton,and Jeff Knoll, President of the Halton Community Housing Corporation, made the announcement.

Victory for Halton Region Moishe Alexander posts video

“Locally, this achievement gives a hand-up to individuals and families who need safe, affordable housing that meets their needs,” said Minister Raitt. “Our government is investing in this project to get the local economy moving, creating immediate jobs and economic stimulus for the community.”

“The McGuinty government is helping build new affordable units for those in need in Halton,” said MPP Flynn. “This new project is also part of our Open Ontario plan to create jobs and economic opportunities in the Town of Milton and the whole region.”

“On behalf of Halton Regional Council, I would like to thank the provincial and federal governments for this significant commitment in Halton,” said Regional Chair Gary Carr. “We have worked hard to get this project in place and are very pleased to get started and get our seniors housed in this wonderful building, just steps from the Milton Seniors Activity Centre and local shopping centre. The creation of these units in Milton will provide residents with access to safe, affordable housing, in the community they call home.”

“As Mayor of the Town of Milton and Halton Regional Councillor, I am pleased to be a part of the groundbreaking for this much-needed project,” said Milton Mayor Gord Krantz. “I would like to thank our federal and provincial partners at the Province for recognizing the need to fund affordable housing for low-income seniors and people with disabilities in Milton.”

These 40 affordable rental units are part of an 80-unit project located at Ontario Street and Childs Drive. The approximately $4.8 million in federal and provincial funding is complemented by $10.1 million in municipal financial incentives.

Moishe Alexander states: The Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

In 2008, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this and provides $475 million, over two years, to build new rental housing for low-income seniors and people with disabilities. Overall, the Economic Action Plan includes $2 billion over two years in new and existing social housing and lending up to another $2 billion to municipalities for housing-related infrastructure. Combined for Ontario, this means a further $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

With a gradually strengthening job market and still favourable financing conditions, the housing market situation in the Sherbrooke census
metropolitan area (CMA) will be somewhat different this year1. After having stagnated in 2009, existing home sales registered through the Multiple Listing Service (MLS)® will rise by 4 per cent next year. Housing starts, for their part, will fall by 14 per cent in 2010. This decline will result from the level of housing activity in 2009, and not from the deterioration of economic conditions.

Employment to increase slightly in 2010 In 2009, the Sherbrooke area was spared by the slowdown in economic activity that affected all industrialized countries. During the first six months of the year, the average number of jobs2 in the area declined by 2 per cent, with losses registered in both part-time and full-time employment. However, the situation improved somewhat from July to September, as the number of jobs rose by 1.5 per cent. While this rise was entirely attributable to the gains recorded in part-time employment, full-time job losses are moderating more and more, suggesting that increases could occur shortly. Thanks to this renewed economic activity, the Sherbrooke CMA will end the year with 83,000 jobs, or the same level as in 2008.