Canadian Funding Corp. Reviews CMHC Statistics

Posted by Moishe Alexander

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 Canada, along with Stéphanie Vallée, Parliamentary Assistant to the Premier of Quebec and Member of the National Assembly for Gatineau, on behalf of Laurent Lessard, Minister of Municipal Affairs, Regions and Land Occupancy, officially opened today the two housing projects of the La Pêche Development Corporation, which provide 24 new affordable housing units for semi-independent seniors. This represents an investment of nearly $3.5 million on the part of public and sector partners for the construction of these units.

The Government of Canada, through Canada’s Economic Action Plan, and the Government of Quebec, under the AccèsLogis program of the Société d’habitation du Québec (SHQ), contributed a total amount of nearly $1.5 million, while partners and the Municipality of La Pêche invested nearly $2 million. Of this sum, more than $1.3 million will be provided by the Municipality of La Pêche in the form of a capitalized tax rebate. Canada’s Economic Action Plan was put in place to stimulate the economy and create jobs during the global recession. The federal and provincial governments will invest, on a 50:50 cost-shared basis, $538 million in Quebec under the Affordable Housing Initiative Program Extension Agreement.

“Our government is committed to giving a hand-up to the people of Quebec during these tough economic times,” said Minister Cannon. “Through projects like these, 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 opening of these two establishments 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, 24 households can now benefit from safe, quality housing that meets their needs, at an affordable cost,” said MNA Stéphanie Vallée, in the presence of Robert Bussière, Mayor of La Pêche and Chair of the Board of Directors of the La Pêche Development Corporation, and community partners.

Canada’s Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. 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.

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.

Twelve tenants of these two housing projects can benefit from the SHQ’s 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, a total of nearly $183,350 in financial assistance, including $165,000 from the SHQ and more than $18,350 from the Municipality of La Pêche.

Since 2003, 980 community housing units have been, or are being, developed in the Outaouais region, including 82 in the constituency of Gatineau, representing total investments of nearly $114 million by the Government of Quebec.

Posted by Moishe Alexander

The Government of Canada announced today that one housing co-operative located in Peterborough will receive more than $291,000 through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made at the Kawartha Village Co-op by Dean Del Mastro, Parliamentary Secretary to the Minister of Canadian Heritage and Member of Parliament for Peterborough, 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 Del Mastro. “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 Kawartha Village Co-op.

“We commend and thank the federal government, Mr. Del Mastro 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 David Granovsky, Government Relations Co-ordinator for the Co-operative Housing Federation of Canada. “Today’s announcement shows how stimulus funding helps to preserve jobs, assist the local economy and protect valuable affordable housing assets for Canadians.”

“We are very pleased to be receiving the Renovation and Retrofit grant through Canada’s Economic Action Plan to improve our cooperative,” said Mary Earls, President, Kawartha Village Co-operative Homes Incorporated. “These significant renovations will have a tremendous positive impact for our members and their quality of life.”

Canadian Funding Corp (CFC) presents CMHC update from June 4, 2009.

Rick Dykstra, Member of Parliament for St. Catharines, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation; Jim Bradley, MPP for St. Catharines, on behalf of the Honourable Jim Watson, Minister of Municipal Affairs and Housing; Niagara Regional Chair Peter Partington, and St. Catharines Mayor Brian McMullan made the announcement today.

“The Government of Canada is delivering on its commitment to help those at risk of becoming homeless,” said MP Rick Dykstra. “We are proud to support community efforts that help find local solutions to local problems. Through this investment, the Gateway Residential and Community Support Services and Mainstream Services, will provide safe and supportive housing to people with special needs, and help them turn a new page in their lives.”

The project, sponsored by Gateway Residential and Community Support Services of Niagara and Mainstream: An Unsheltered Workshop, will provide nine units of supportive housing for vulnerable persons in St. Catharines. Today’s federal and provincial allocation will be complemented by $125,850 in municipal financial incentives.

“This new 9-unit supportive housing development in downtown St. Catharines is another great example of partnership in action,” said Regional Chair Partington. “Increasing access to supportive housing will assist some of Niagara’s most vulnerable citizens. I am proud that Niagara Region is able to continue its legacy of Building Communities, Building Lives.”

“This project represents what can be achieved by government and community-based agencies when we work together,” said Mayor Brian McMullan. “As a result of this collaborative effort, some of our community’s most vulnerable citizens will have a safe and affordable home with the specialized supports they require — something they would not have had otherwise.”

“Gateway & Mainstream are proud to be entering into a partnership that will create nine new units of affordable supportive housing in downtown St. Catharines,” said Gateway Executive Director John Osczypko.

The Canada – Ontario Affordable Housing Program 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 20,000 households in Ontario.