LONDON, ON, June 8, 2019 /CNW/ - As part of the National Housing Strategy's (NHS) goal to protect the most vulnerable Canadians, the federal government is deeply committed to ensuring that Canada's federally administered community housing stock remains affordable and viable well into the future.
Today in London, Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development, spoke at the 2019 Annual General Meeting of the Co-operative Housing Federation of Canada (CHF) to highlight the Government of Canada's commitment to maintaing co-operative housing.
To protect affordability for tenants living in federally administered community housing as operating agreements expire and to stabilize the operations of housing providers, the NHS is investing $500 million over 10 years for a Federal Community Housing Initiative (FCHI) that will be implemented in two phases.
Over 880 subsidy extensions have been mailed to projects reaching the end of their operating agreements, benefitting over 25,000 households, as part of Phace 1 of the FCHI.
A consultation and survey to help guide the development of Phase 2 of the FCHI has concluded and surveyed representatives of federally administered cooperative and non-profit community housing organizations from across the country.
Phase 2 of the FCHI will be implemented in April 2020.
Parliamentary Secretary Vaughan also spoke about Phase 2 of FCHI which will have details announced in the coming weeks. The Government recently completed consultations and a survey of co-ops and non-profits to guide the development of Phase 2 of the FCHI. The Government knows that many co-operatives are worried about how the new program will work. Parliamentary Secretary Vaughan also committed to announcing the details of the program in the very near future, which will ensure that there is not disruption in funding and service. CHMC will be in touch with CHF and other stakeholders as we work towards a seemless transition that will see funding for April 2020.
"Everyone deserves an affordable and safe place to call home, and co-ops have been helping Canadians meet these housing needs for over 60 years. We are committed to keeping Canada's federally administered community housing stock affordable and viable in the years ahead, which is why we have launched the $500 million, 10-year Federal Community Housing Initiative to protect and support this important source of housing." – Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development
- Phase 1 of the Federal Community Housing Initiative is providing funding over a two-year period beginning April 1, 2018 to assist federally administered community housing projects reaching their end of operating agreement date.
- Funding under Phase 1 is going towards protecting affordability for tenants living in federally administered community housing projects; stabilizing the operations of community housing providers; maintaining Low Income Households in the project; and allowing time for housing providers to transition to a new rental support program and prepare for modernization through Phase 2, beginning April 1, 2020.
- The longer term approach under Phase 2 will help the community housing sector become more financially resilient, innovative and will involve consultations with the co-operative and non-profit sectors at the development stage.
- As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. For more information, visit our website or follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.
- To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
SOURCE Canada Mortgage and Housing Corporation
For further information: Valérie Glazer, Press secretary, Office of the Minister of Families, Children and Social Development, 613-220-1841, firstname.lastname@example.org