Canadian Funding Corp. Reviews CMHC Statistics

Posted by Moishe Alexander

The Government of Canada announced today that one housing co-operative located in Owen Sound will receive more than $384,000 through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made at the Ainslie Wood Housing Co-operative by Larry Miller, Member of Parliament for Bruce – Grey – Owen Sound, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth,” said MP Miller. “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create jobs.”

The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The housing co-operative that will receive a contribution from the Government of Canada being announced today is Ainslie Wood Housing Co-operative.

“We congratulate and thank the federal government, Mr. Miller and CMHC for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents,” said Ken Elliott, President of the Co-operative Housing Federation of Canada. “Today’s announcement is an excellent example of stimulus funding that works towards helping to preserve jobs, assisting the local economy and protecting a valuable source of affordable housing for Canadians.”

Posted by Moishe Alexander

The Government of Canada announced today that 36 housing co-operatives and non-profit organizations located in the greater Outaouais region will receive more than $1.8 million through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made by the Honourable Lawrence Cannon, Minister of Foreign Affairs and Member of Parliament for Pontiac, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth,” said Minister Cannon. “Funding renovation and retrofit projects, like these ones, will not only improve the quality of life of the residents by keeping their homes safe and affordable but also help stimulate the local economy and create jobs.”

The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects that they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing that it directly administers. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The housing co-operatives and non-profit organizations that will receive contributions from the Government of Canada being announced today are listed in the attached backgrounder.

“The financial contributions provided under the federal renovation and retrofit initiative administered by CMHC will benefit the residents of Shawville Apartments inc.,” said Dr. Earl Potvin, Chair of the Board of Directors, Shawville Apartments Inc. “In fact, these funds will serve to replace the windows to ensure our quality of life. We are very pleased to have received this funding, which will help improve the comfort and safety of our residents.”

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.