Canadian Funding Corp Reviews CMHC Affordable Housing Reports

The Honourable Vic Toews, President of the Treasury Board, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Dennis Fentie, Premier of Yukon, made the announcement.

“The Government of Canada is committed to making affordable housing available in Yukon and across Canada for those who need it most,” said Minister Toews. “Today’s launch provides Watson Lake seniors with quality and affordable rental housing that meets their needs.”

“Yukon is capitalizing on Canada’s economic stimulus package, to the benefit of residents, industry and communities. We are the first jurisdiction to fully allocate this year’s funding received under Canada’s Economic Action Plan,” said Premier Fentie. “We’re very pleased with the partnership established with the Government of Canada, with construction already underway throughout the territory.”

For this new seniors project, the Government of Canada is contributing more than $4 million for 12 affordable housing units and Yukon Housing Corporation is providing $450,000. The project will meet Yukon Housing Corporation’s SuperGreen Home energy standards and features Accommodating Home standards to ensure a barrier-free interior and exterior living environment. The project will enable seniors in Watson Lake to remain in their community.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.

Moishe Alexander, CEO of Canadian Funding Corporation writes about Charlottetown, May 22, 2009. The Government of Canada and the province of Prince Edward Island are partnering on a joint investment to build new and renovate existing affordable housing. This investment will help create jobs, strengthen the economy, and improve the quality of life for residents of Prince Edward Island.

According to Moishe Alexander, both levels of government officially signed an amendment to the Canada – P.E.I. Affordable Housing Program Agreement and an extension of the Housing Renovation Program Agreement, resulting in a joint investment of more than $13 million over the next two years.

In this post Moishe Alexander commented that the Honourable Gail Shea, Minister of Fisheries and Oceans, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) and the Honourable Doug Currie, Minister of Health and Minister of Social Services and Seniors for PEI, made the announcement at a signing ceremony today.

“The Government of Canada continues to work hard to support Canadians during these challenging economic times, and has moved aggressively to ensure Canada’s Economic Action Plan is implemented rapidly,” said Minister Shea. “We are helping the most vulnerable, including seniors and persons with disabilities, access suitable, affordable housing, as well as making needed renovations to existing social housing both in Prince Edward Island and across Canada.”

“This investment will enable Prince Edward Island to renovate or replace many of our aging social housing units,” said Minister Currie. “Everyone deserves to live in comfortable and affordable homes, and today’s investment means that more seniors, families, and people with disabilities in our One Island Community will be able to live in housing that offers them a good quality of life.”

Today’s announcement includes federal funding of $4 million over two years under Canada’s Economic Action Plan as part of a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada. The province will also contribute $4 million for these initiatives, over the next two years.

These investments build upon the $1.9 billion commitment for housing and homelessness programs announced by the Government of Canada in September 2008, which extended the Affordable Housing Initiative and the renovation programs for low-income households for two years. Today’s announcement includes a further combined investment of $5 million by both levels of government for the two-year extensions to build new affordable housing and assist low-income households with needed renovations to their homes.

Overall, the federal contribution is $7 million, while the province is contributing a further $6 million for the combined investment of almost $13 million.

CMHC has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan. For more information on Canada’s Economic Action Plan, call 1-800-O Canada.

PETERBOROUGH, May 1, 2009 — According to Moishe Alexander, CEO of the Canadian Funding Corporation, The Government of Canada, the Government of Ontario, and the City of Peterborough today announced the opening and the start of construction of the Anson House affordable housing developments in Peterborough. The three phases of this affordable housing project received more than $3 million in funding under the Canada – Ontario Affordable Housing Program.

Dean Del Mastro, Member of Parliament for Peterborough, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister responsible for the Canada Mortgage and Housing Corporation; Jeff Leal, Member of Provincial Parliament for Peterborough, on behalf of the Honourable Jim Watson, Minister of Municipal Affairs and Housing; and Peterborough Mayor Paul Ayotte attended the ceremony.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP Del Mastro, “The creation of these units here in Peterborough will provide lower-income singles, families and persons living with disabilities access to safe, affordable and quality housing, helping them to build a stronger future.”

“We are making steady progress in increasing the supply of affordable housing here in Peterborough,” said MPP Leal. “The McGuinty government and our partners are helping vulnerable people establish the stability that so many of us take for granted every day.”

Moishe Alexander added, today’s announcement recognized the grand opening of Phases I and III of 136 Anson House as well as the start of construction for Phase II of Peterborough Housing Corporation’s 56-unit project. The $4.7 million project received over $3 million under the Canada – Ontario Affordable Housing Program. The units will be occupied by lower-income singles, families and persons living with disabilities.

The federal and provincial allocations to the project were complemented by over $589,000 in municipal financial incentives.

“The Anson House project is one of fourteen new rental projects in the City and County of Peterborough. The staff and Board of Directors at Peterborough Housing Corporation are to be congratulated for their initiative and considerable efforts to create many new housing opportunities for low-income households in Peterborough,” said Mayor Ayotte. “The City is very pleased to see Anson House preserved and adapted to meet the needs of the current-day.”

The Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will have invested at least $734 million in the program, which will provide affordable housing for 20,000 households in Ontario.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.