Canadian Funding Corp. Reviews CMHC Statistics

Moishe Alexander posts – The Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation, and Michelle Courchesne, Minister of Education, Recreation and Sports and Minister responsible for the Laurentides region, on behalf of Laurent Lessard, Minister of Municipal Affairs, Regions and Land Occupancy, are pleased to mark the official opening of La Placidienne, a 20-unit housing project for seniors, to which the governments of Canada and Quebec jointly contributed more than $1 million. The development of this great regional initiative resulted from a total investment of over $2.2 million.

In addition to the Government of Canada, through Canada’s Economic Action Plan, and the Government of Quebec, under the AccèsLogis Québec program of the Société d’habitation du Québec (SHQ), community partners contributed more than $435,000, including $320,000 from the Municipality of Saint-Placide.

“Our government is committed to giving a hand-up to the people of Quebec who need some help during these tough economic times,” said Minister Finley. “Through projects like this one, Year 2 of Canada’s Economic Action Plan will continue to create jobs, stimulate communities in all corners of the country and support Canadian workers and families.”

“The development of La Placidienne is excellent news and demonstrates the attention that our government is giving to the seniors of Quebec. Thanks to the combined efforts of the different partners that contributed to this mobilizing project, 20 households can now benefit from safe, quality housing that meets their needs, at an affordable cost,” said Minister Courchesne.

Moishe Alexander notes that 10 tenants of La Placidienne can benefit from the Rent Supplement program, which provides financial assistance to low-income individuals who would otherwise have to spend more than 25 per cent of their income on housing. The rent supplements provided will represent, over a five-year period, over $152,000 in additional financial assistance, including more than $137,000 from the SHQ and some $15,000 from the Municipality of Saint-Placide.

Saint-Placide and the CMHC – Moishe Alexander “lovely”

As well, the Agence de l’efficacité énergétique du Québec has committed to supporting the project with a grant of over $43,000 to ensure that the building meets the Novoclimat standard. The SHQ is giving particular attention to energy efficiency. In fact, starting in June, all projects developed under the AccèsLogis Québec program will have to be designed so as to obtain the Novoclimat certification.

CAYUGA, ON, February 23, 2010 — The Government of Canada announced today that Haldimand County has been approved for four housing-related infrastructure loans as part of Canada’s Economic Action Plan.

The announcement was made by the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

Haldimand County has been approved for almost $7 million in low-cost loans from CMHC’s Municipal Infrastructure Lending Program (MILP). These loans will be used to expand wastewater treatment plants in Cayuga and Hagersville in order to improve wastewater treatment for the residents of these communities. For the residents of Caledonia and Dunnville, the loans will be used to replace undersized water mains, which will improve water quality, pressure and reliability.

“Our government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Finley. “We’re opening the door for municipalities of all sizes to meet their housing-related infrastructure needs. Canada’s Economic Action Plan is creating jobs and stimulating the economy right here in Haldimand County.”

Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects through the MILP. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low-cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“Haldimand County is pleased to have our application approved through CMHC’s Municipal Infrastructure Lending Program,” said Mayor Marie Trainer. “This low-cost loan will allow us to pursue projects that will enhance our community, create jobs in a cost-effective manner and help prepare Haldimand County for future growth and prosperity.”

Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting and green space.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Posted by Moishe Alexander, the CEO of Canadian Funding Corp.

Housing starts: After a slow start in 2009, housing starts will become stronger by the end of 2009 and average 141,900 units. In 2010, starts will increase to approximately 164,900 units.  The strong pace of resales reflects, in part, activity that was delayed in the previous two quarters of 2009 and is likely not to be sustained. MLS® resales will be about 441,300 units for 2009, up from 433,990 units in 2008.