Stabilization fund honoured for contribution to co-op housing



    Victoria, BC, May 30 /CNW Telbec/ - The Federal Co-operative Housing
Stabilization Fund will receive the 2009 Canada Mortgage and Housing
Corporation award for outstanding contribution to co-operative housing.
    The award will be presented Saturday, May 30 at 1 PM during the
Co-operative Housing Federation of Canada annual meeting in the Victoria
Conference Centre. Ed Komarnicki, Parliamentary Secretary to the Minister
Responsible for CMHC will make the presentation to Réjean Laflamme, the Fund's
executive director.
    The Federal Co-operative Housing Stabilization Fund was established as a
Trust in 1989 to protect housing co-ops funded under the new Federal
Co-operative Housing Program (FCHP). As the index-linked mortgage instrument
in the program was a new, untried concept, the Fund was set up to protect the
viability of the 458 housing co-operatives funded under the program between
1986 and 1991. The Fund offers help for short-term financial problems, through
loans.
    "We're pleased to see the Federal Co-operative Housing Stabilization Fund
recognized for their work in helping housing co-ops and protecting the
viability of affordable co-op homes," said Nicholas Gazzard, CHF Canada's
Executive Director. "The Fund has been instrumental in the success of the ILM
program. Since it began, the Fund has helped almost 200 housing co-ops. The
Fund has shown an admirable dedication and commitment to this work."
    CMHC has presented its award for outstanding contribution to co-operative
housing at each CHF Canada annual meeting since 1988.




For further information:

For further information: Nicholas Gazzard, Executive Director, (613)
230-2201 ext. 230, (613) 293-8913 (cell), ngazzard@chfcanada.coop; Merrilee
Robson, Program Manager, Communications, 1-877-533-2667, ext. 122, (778)
227-3864 (cell) mrobson@chfcanada.coop; www.chfcanada.coop


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