Canadian Funding Corp Reviews CMHC Affordable Housing Reports

Posted by Moishe Alexander

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 Government of Canada announced today that the Town of Lourdes has been approved for an infrastructure loan 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).
Lourdes has been approved for a low-cost loan of $60,000 from CMHC’s Municipal Infrastructure Lending Program (MILP), to renovate and convert an existing building to house the Town’s fire hall. This project involves upgrading the exterior of the building and installing two new bay doors which will enhance the community’s emergency response services.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Finley. “This program is 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 Lourdes.”

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.

“The Town of Lourdes is pleased to secure low interest, long-term funding from the Federal Government through Canada Mortgage and Housing Corporation to assist the community in a Capital Works Projectthat will see the Fire Department relocated to a new location,” said Mayor Henry Gaudon. “This loan will allow the community to better serve its residents by providing a wheelchair accessible facility with better air quality, adequate storage for the Town fire trucks and maintenance vehicle, while also resulting in significant interest savings over the next 15 years.”

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.

Posted by Moishe Alexander

The Government of Canada and the Province of New Brunswick today announced that 450 social housing units in southwestern New Brunswick will receive $3.5 million for repairs and renovations.

The funding was made available through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. 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. The federal and provincial governments are contributing equally to this overall investment of $75M under the amended Canada – New Brunswick Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single-parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

Repairs include exterior retrofits, electrical, plumbing, heating, fire safety and energy improvements.

Rodney Weston, Member of Parliament for Saint John, 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 Kelly Lamrock, New Brunswick Social Development Minister and Minister Responsible for Housing, made the announcement today.

“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 Weston. “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.”

“We are pleased to work together to provide affordable and safe accommodations for low-income seniors, families and to those who have accessibility needs in southwestern New Brunswick,” Lamrock said. “Affordable housing is a key component of this government’s Overcoming Poverty Together: The New Brunswick Economic and Social Inclusion Plan to ensure New Brunswickers have a quality, energy-efficient place to call home.”

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