Canadian Funding Corp. Reviews CMHC Statistics

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.

HAWKESBURY, ON, February 10, 2010 — The Government of Canada, the Government of Ontario, the United Counties of Prescott and Russell and the Town of Hawkesbury today celebrated the start of construction of 24 affordable rental units. The project is supported by $2.88 million in funding through the Canada – Ontario Affordable Housing Program.

Pierre Lemieux, Member of Parliament for Glengarry – Prescott – Russell, 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 Jean-Marc Lalonde, Member of Provincial Parliament for Glengarry – Prescott – Russell on behalf of Jim Bradley, Minister of Municipal Affairs and Housing; along with Conrad Lamadeleine, Warden of the United Counties of Prescott and Russell, Jeanne Charlebois, Mayor of the Town of Hawkesbury, made the announcement.

“Our government is providing a hand up to those Canadians who need it the most,” said MP Pierre Lemieux. “We’re committed to making communities stronger through projects like this one here in Hawkesbury. These investments in local infrastructure will help create new jobs stimulate the local economy.”

“The province is committed to helping people who live on lower or fixed incomes stay in their home communities,” said MPP Jean-Marc Lalonde. “These 24 new affordable rental units are going to make a positive difference in the lives of the individuals living here, and make an excellent addition to the Town of Hawkesbury.”

The 24-unit project located at 300 Nelson Street received $2.88 million in funding through the two-year extension of the Canada – Ontario Affordable Housing Program and is sponsored by the Brisson/Labelle Partnership. The building will be occupied by individuals living on low incomes, including persons with disabilities and special needs.

“It is living proof that with partnerships between various levels of governments and the private sector, we can achieve important projects like this one and this participation will allow our community to enjoy more affordable housing,” said Warden Conrad Lamadeleine.

“We welcome this new housing development in our town and we congratulate Mr. Marc-André Labelle, Mr. Dominic Labelle and Mr. Jean-Luc Brisson for the opportunity they are offering our residents seeking affordable housing” said Mayor Jeanne Charlebois.

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 the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of 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.

Ontario is moving quickly to get new housing built. The province has already approved more than $224 million for construction-ready projects, which will improve access to affordable housing for low-income families, seniors and persons with disabilities across the province. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit www.mah.gov.on.ca.

Posted by Moishe Alexender.

MONTRÉAL, February 11, 2010 — The Government of Canada announced today that 62 housing co-­operatives and non-profit organizations located in the greater Montréal area will receive more than $5.8 million through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made in Montréal, at Maison Jean-Brillant, by Senator Claude Carignan, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), in the company of Richard McConomy, Chair of the Board of Directors, Maison Bieler inc.

“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 Senator Claude Carignan. “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 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. Repairs that are eligible for funding include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

As of February 1, 2010, CMHC is accepting applications from eligible project sponsors for the remaining $75 million funding for Phase II of Canada’s Economic Action Plan. Sponsor groups can apply online or through the mail. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

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

“The financial contribution of $259,893 provided under the federal renovation and retrofit initiative administered by CMHC will benefit the residents of Maison Jean-Brillant,” said Richard McConomy, Chair of the Board of Directors, Maison Bieler inc. “In fact, these funds will serve to renovate the elevator systems to ensure the safety of the residents. We are very pleased to have received this funding, which will help improve the quality of life and safety of our residents.”

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