Canadian Funding Corp. Reviews CMHC Statistics

Posted by Moishe Alexander

The Government of Canada announced today that the Rural Municipality of Hanover, has been approved for an infrastructure loan as part of Canada’s Economic Action Plan.

The announcement was made by the Honourable Vic Toews, President of the Treasury Board, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Reeve Stan Toews, elected head of the Rural Municipality of Hanover.

The Rural Municipality of Hanover has been approved for a $3,000,000 low-cost loan from CMHC’s Municipal Infrastructure Lending Program (MILP), for the construction of a new wastewater treatment facility for the community of Mitchell. The new facility has been designed to allow the community’s population to grow to 4,000 persons.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Toews. “This program is opening the door for municipalities of all sizes to meet their housing-related infrastructure needs and create jobs. It’s good news not only for Hanover, but also for Manitoba.”

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. These low cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“The Rural Municipality of Hanover is pleased to secure low interest long-term funding from the Federal Government through Canada Mortgage and Housing Corporation to assist the community of Mitchell in the construction of their new lagoon”, Reeve Stan Toews said. “This facility will allow the community to see substantial growth over the next two decades and provides an interest rate that will result in the community saving approximately $500,000 over the next 15 years in interest costs.”

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.

Alberta Venture has put together an accessible database of Alberta communities slanted for the business folks considering, “location, location, location.”
As reviewed by Moishe Alexander, CFC CEO.

A great resource for real estate investors performing their due-diligence, the info is laid out well, and in a glance you can wrap your head around the key information.

The #1 recommended community to locate your business is the Edmonton International Region – being the area around the airport (Leduc & Nisku are the hubs). The rest of the top ten includes Edmonton, Strathcona County, Camrose, Airdrie, Calgary, Lethbridge, Lloydminster, Red Deer and Strathmore.

One item to note, is that the pricing for serviced industrial land is consistently on the low side. For example, serviced industrial land in Strathcona County for $300,000 per acre? $500,000 would be a safer “average”.

Real estate investors take note: this type of information shows trends for yesterday & today, but does not forecast tomorrow. A decision by city council, or the unexpected fall of a commodity price can quickly change the tides for a community. If you are not an informed citizen of the community you are investing in, there is no substitute for an unbiased, on-the-ground local expert to give you an inside scoop, and assist in taking a calculated risk to capture the biggest upside tomorrow.

Well done, Alberta Venture, a useful tool which I think many will utilize.

http://www.albertaventure.com/?p=3293