TORONTO, April 4, 2018 /CNW/ - To protect low income Canadians in housing-need, it is important that Canada's existing social housing stock remains affordable and in good repair well into the future. In communities all across Canada, thousands of Canadians rely on federally administered community housing as a place to call home.
The federal government through the National Housing Strategy will invest $500 million over 10 years for a new Federal Community Housing Initiative to protect affordability for tenants and stabilize the operations of some 55,000 units of federally administered community housing projects.
Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs) was in Toronto today to announce $38 million in funding over a two year period for Phase I of the Federal Community Housing Initiative. This funding will provide a temporary extension of subsidies to maintain affordability for low-income households and protect tenants living in federally administered community housing projects while housing providers' transition to a new rental support program and prepare for modernization through Phase II.
Quotes:
"Our Government recently announced Canada's first ever National Housing Strategy, a 10-year, $40-billion plan that will give more Canadians a place to call home. Phase 1 of the Federal Community Housing Initiative is a critical part of this plan, and with today's announcement we are one step closer to realizing the vision of the strategy. Protecting households from losing an affordable place to live is a concrete action towards making sure Canadians have housing that meets their needs and that they can afford." — The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation
"For decades community housing, and in particular the co-op sector, have been important partners in the delivery of Federal housing investments. Sustaining this relationship and making sure residents who are supported by this housing model is critical to the success of the National Housing Strategy. Phase I is just the beginning, but an important first step, in making sure thousands of Canadians have secure access to affordable housing"— Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs).
Quick Facts:
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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, please visit cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
Backgrounder
Federal Community Housing Initiative
Phase I will be implemented from April 1, 2018 to March 31, 2020. Under Phase I, federally administered housing providers with long-term operating agreements that have ended or that are coming to an end between April 1, 2016 and February 28, 2020, will continue to receive the same level of subsidy currently provided under existing agreements until March 31, 2020.
The objective of the subsidy extension (Phase 1) is to maintain low-income households, protect affordability of the federally administered community housing stock, stabilize operations of housing providers and ensure no net loss of the federally administered community housing stock. Phase I will also give housing providers time to transition to the new rental assistance program under Phase II.
Phase II starts on April 1, 2020, when federally-administered community housing providers with expiring operating agreements will be eligible for a new rental assistance program to protect tenants and stabilize the operations of some 55,000 units of federally administered social housing projects.
Phase II funding applies to operating agreements expiring between April 1, 2016 and March 31, 2027. New operating agreements will be put in place as old ones expire, to ensure social housing providers will continue to receive funding to subsidize rents for tenants in need.
The Federal Government will consult on the development of this new program with the non-profit and co-operative housing providers that own federally administered community housing. To receive the funding, providers will need to meet minimum requirements for affordability, social inclusion, asset management, and governance.
A Technical Resource Centre and Sector Transformation Fund will also support housing providers through the transition from Phase I to Phase II.
SOURCE Canada Mortgage and Housing Corporation
Media contacts: Émilie Gauduchon, Press Secretary, Office of Minister Duclos, 613-404-2941, [email protected]; Wilbur McLean, Public Affairs, Canada Mortgage and Housing Corporation, 437-333-3299, [email protected]
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