Governments of Canada and Ontario Celebrate New Affordable Housing in St. Marys

Author: Toronto Real Estate Admin / Category: News Bulletin

Canada’s Economic Action Plan

ST. MARYS, ONTARIO, June 24, 2011 — The official opening of 12 new affordable rental housing units for seniors living on low-income was held today in St. Marys. The project received $1.44 million in funding from the federal and provincial governments.

Gary Schellenberger, Member of Parliament for Perth-Wellington, 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 John Wilkinson, Member of Provincial Parliament for Perth – Wellington, on behalf of the Honourable Rick Bartolucci, Ontario’s Minister of Municipal Affairs and Housing, along with Steve Grose, Mayor of St. Marys and Dan Mathieson, Mayor of Stratford, made the announcement.

“Through Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most, including low-income seniors,” said MP Schellenberger. “Funding projects like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create the conditions for long-term growth.”

“Our community believes that seniors need the dignity of an affordable place to call home,” said MPP Wilkinson. “For some seniors this is beyond their reach. Thankfully, the new St. Marys Affordable Housing development will provide local seniors, living on low or fixed income, a new place to call home.

“As the Mayor of the City of Stratford, which has the role of Consolidated Municipal Service Manager, I am pleased to see the completion of another excellent Affordable Housing Project for our region,” said Mayor Mathieson. “The project in St Marys, constructed by Favoured Lands Inc., provides 12 new quality housing options to our citizens. It is indeed a model of intragovernmental cooperation between the Federal, Provincial and Municipal levels of government.”

The 12 affordable rental units are part of a 30-unit project located at 50 Stoneridge Boulevard, which received $1.44 million. Residents began moving in as of June 1s. The federal and provincial funding is complemented by over $110,000 in municipal financial incentives.

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada’s Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for the construction of new and the renovation of existing social housing, plus up to $2 billion in low-cost loans to municipalities for housing-related infrastructure. Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly $183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario’s overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario. 

Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. Download a copy of the Government of Ontario’s Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

More information on this and other measures in Canada’s Economic Action Plan can be found at www.actionplan.gc.ca. 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.

Media inquiries:

For more information visit: www.ontario.ca/housing

Article source: http://www.cmhc.ca/en/corp/nero/nere/2011/2011-06-24-1500.cfm

TREB Announces Proposed Virtual Office Website Policy For Scrutiny By REALTOR® Members

Author: Toronto Real Estate Admin / Category: Toronto Realtor

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Article source: http://www.torontorealestateboard.com/consumer_info/market_news/news2011/pdf/nr_VOW_062411.pdf

Governments of Canada and Ontario Celebrate New Affordable Housing in Port Hope

Author: Toronto Real Estate Admin / Category: News Bulletin

Canada’s Economic Action Plan

PORT HOPE, ONTARIO, June 24, 2011 — The official opening of 24 new affordable rental housing units for seniors and persons with disabilities was held today in Port Hope. The project received more than $2.4 million in funding from the federal and provincial governments. In addition, Northumberland County received more than $3.1 million over the last two years for the repair of 992 units of existing social housing.

Rick Norlock, Member of Parliament for Northumberland-Quinte West, 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 Lou Rinaldi, Member of Provincial Parliament for Northumberland – Quinte West, on behalf of the Honourable Rick Bartolucci, Ontario’s Minister of Municipal Affairs and Housing, along with Mark Lovshin, Warden of Northumberland County, and Linda Thompson, Mayor of the Municipality of Port Hope, made the announcement.

“Through Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most, including low-income seniors,” said MP Norlock. “Funding projects like this one will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create the conditions for long-term growth.”

“This project in Port Hope will give families, seniors and people on low income an affordable place to call home,” said MPP Rinaldi. “This project also creates local jobs and economic opportunities for people in this county. We will continue to improve social housing and access to new affordable housing going forward.”

“I am thrilled that Northumberland County Council and our housing department were part of this exciting development,” said Mark Lovshin, Warden of Northumberland County. “We are very appreciative to our federal and provincial partners. Northumberland Cares is the theme for all community and social programs provided by the County, and that motto is clearly reflected in this project.  It is important to recognize the quality work done by the developer — TVM Group; they understand the principles behind excellent design and accessibility.”

“The Municipality has supported the Dr. Powers project from the very beginning,” said Linda Thompson, Mayor of Port Hope. “This adaptive reuse of one of our prominent buildings for affordable housing is an excellent example of how we can preserve our built heritage to the benefit of the community at large. Seniors and those with disabilities are among our most vulnerable populations and this housing initiative is a very worthwhile endeavour that Port Hope is proud to be a part of.”

TVM Doctor Powers Residences, a 24-unit project located at 64 Ward Street, received more than $2.4 million. The building, formerly Dr. L.B. Powers School, was converted to provide affordable housing for seniors and persons with disabilities in the community. 

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada’s Economic Action Plan provides $475 million, over two years, to build new rental housing for low-income seniors and persons with disabilities and $850 million over two years for the renovation and retrofit of existing provincially/territorially administered social housing. Overall, the Economic Action Plan includes $2 billion for the construction of new and the renovation of existing social housing, plus up to $2 billion in low-cost loans to municipalities for housing-related infrastructure. Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless. As part of this commitment the Affordable Housing Initiative (AHI) was extended for two years. This results in a total $1.25 billion federal investment toward the creation of affordable housing since the inception of the AHI. For Ontario, this represents a joint investment of more than $907 million under the AHI and $1.1 billion under CEAP toward affordable housing by both levels of government.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2009, the provincial government has provided nearly $183 million to build new rental housing units for low-income seniors and persons with disabilities. Ontario’s overall investment of over $2.5 billion has translated into the construction and repair of more than 270,000 housing units and the provision of 35,000 rent supplements for Ontario families on fixed incomes. The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. Download a copy of the Government of Ontario’s Long-Term Affordable Housing Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing.

More information on this and other measures in Canada’s Economic Action Plan can be found at www.actionplan.gc.ca. 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.

Media inquiries:

For more information visit: www.ontario.ca/housing

Backgrounder

Article source: http://www.cmhc.ca/en/corp/nero/nere/2011/2011-06-24-1000.cfm

Canada’s Economic Action Plan Delivers Housing-Related Infrastructure Loans to Toronto

Author: Toronto Real Estate Admin / Category: News Bulletin

Canada’s Economic Action Plan

TORONTO, ON, April 9, 2010 — The Government of Canada announced today that the City of Toronto has been approved for 11 infrastructure loans 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).

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Finley. “This program is opening the door for municipalities to meet their housing-related infrastructure needs. Canada’s Economic Action Plan will continue to create jobs, provide economic stimulus for communities in all corners of the country, and support Canadian workers and families.”

The City of Toronto has been approved for more than $77.9 million in low-cost loans from CMHC’s Municipal Infrastructure Lending Program (MILP), to improve infrastructure throughout the City. These funds will be used to improve roadways and sidewalks and upgrade bridges throughout the City and will also contribute to the Regent Park revitalization project that is already underway.

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 City of Toronto is committed to maintaining and upgrading the quality of our transportation infrastructure,” said Mayor David Miller. “We appreciate receiving access to low cost financing to do this work from the Federal Government’s Municipal Infrastructure Loan Program. Toronto’s transportation network is a critical component of our community and we are investing in our infrastructure assets to ensure the safety of all road users.”

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.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

More information on this and other measures in Canada’s Economic Action Plan, a plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

More information, including applications forms, for municipalities wishing to apply for loans can be found at: www.cmhc.ca/housingactionplan.

Media inquiries:

See related speech

Backgrounder

Helping Municipalities Build Stronger Communities

CMHC Municipal Infrastructure Lending Program

Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities over two years through Canada Mortgage and Housing Corporation (CMHC)’s Municipal Infrastructure Lending Program (MILP) for housing-related infrastructure projects in towns and cities across the country.

These infrastructure loans are available to any municipality within Canada and will provide a new source of funds for municipalities to invest in housing-related infrastructure projects. Only infrastructure projects serving new or existing residential areas may be considered.

Eligible municipal infrastructure projects must directly relate to housing, thereby contributing to the efficient functioning of residential areas. Projects include infrastructure related to the provision of housing services such as water, wastewater and solid waste services; power generation; local transportation infrastructure within or into residential areas such as roads, bridges and tunnels; and residential sidewalks, lighting, pathways, landscaping and green space.

There will be a focus on funding projects that are shovel-ready, as this is a targeted, short-term, temporary measure intended to create jobs.

These low-cost loans will significantly decrease the cost of borrowing for municipalities and can be used by them to fund their contribution for cost-shared federal infrastructure programming.

Eligible loans will be approved largely on a first-come, first-served basis, provided the proposal meets eligibility requirements. However, CMHC will also seek to facilitate equitable access to the program and will work to encourage applications from urban and rural municipalities across Canada.

CMHC will screen applications against program eligibility, readiness to proceed and Canadian Environmental Assessment Agency (CEAA) requirements.

For more information or to make an application, municipalities can visit CMHC’s website at www.cmhc.ca/housingactionplan.

Article source: http://www.cmhc.ca/en/corp/nero/nere/2010/2010-04-09-1230b.cfm

Governments of Canada and Ontario Celebrate New Affordable Housing in Nipissing

Author: Toronto Real Estate Admin / Category: News Bulletin

NORTH BAY, ON, April 10, 2010 — The Government of Canada, the Government of Ontario, and the City of North Bay today celebrated an official opening and ground breaking of two new affordable rental projects. The projects are supported by $380,000 in funding through the Canada – Ontario Affordable Housing Program.

Cheryl Gallant, Member of Parliament for Renfrew – Nipissing – Pembroke, 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), the Honourable Monique Smith, Ontario’s Minister of Intergovernmental Affairs, and Member of Provincial Parliament for Nipissing, on behalf of Jim Bradley, Ontario’s Minister of Municipal Affairs and Housing; Victor Fedeli, Mayor of the City of North Bay; and George Jupp, Chair of the District of Nipissing Social Services Administrative Board (DNSSAB) made the announcement.

“Our government is committed to giving a hand-up to Canadians who need some help,” said MP Cheryl Gallant. “In these tough economic times, Canada’s Economic Action Plan is providing Canadians with the opportunities, skills, jobs and help they need so they can contribute and strengthen our communities.”

“Ontario is committed to helping people who live on lower or fixed incomes stay in their home communities,” said Nipissing MPP Monique Smith. “These 16 new affordable rental units are going to make a positive difference to the families living here, and an excellent addition to the community.”

Today’s announcement celebrates the official opening of The Pines at 2469 Trout Lake Road, and the groundbreaking of Cam’s Place at 240 Kingsway Avenue East. The Pines is a 12-unit project sponsored by the Girard-Johnson group, and is occupied by families living on low to moderate incomes. Cam’s Place is a 4-unit project for persons with disabilities, and is sponsored by Lorraine Venasse, Sonia Vigna, and Lynda Ceppetelli.

“We know that we need 1,000 affordable homes in the area, and the opening of the new facility on Trout Lake Road is part of 117 units we committed to last year. This is the only example in Ontario where the feds, the province, and the municipalities came together to make it happen”, said North Bay Mayor Victor Fedeli. He added, “The Girard units are a wonderful addition to the city — they are the new face of Affordable housing.”

“This is our second successful affordable housing project developed through a private-public partnership with Mr. Girard. The DNSSAB is delighted to be at the table and contributing to increasing the supply of affordable housing in North Bay,” said Chair George Jupp. “The need for supportive housing in our community has never been greater. Cam’s Place is a unique homeownership model that will ensure that these boys will always have a place to call home that is safe and affordable.”

“I would like to thank the Federal and Provincial governments and the City of North Bay for their incentive on this project. Without financial help this would not have been possible. I hope that the Canada – Ontario Affordable Housing Program will continue as North Bay is still in need of many more units like these,” said Ron Girard, proponent for The Pines.

“This home will provide our family with the peace of mind that Bryan will have a place to live in a neighbourhood within the community and with his friends in a family setting,” said Cam Ceppetelli, one of the sponsors of the project.

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 invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

In 2008, 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. Combined for Ontario, this means a further $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

Ontario is moving quickly to implement this additional funding. The Province has already committed more than $388 million for construction-ready projects, which will improve access to affordable housing for low-income families, seniors and persons with disabilities across the province. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit ontario.ca/mah.

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 or visit www.actionplan.gc.ca.

For further information please contact:

For more information visit: www.ontario.ca/housing.

See related speeches:

Official Opening of New Affordable Housing Project — 2469 Trout Lake Road

Official Opening of New Affordable Housing Project — 240 Kingsway Avenue East

Article source: http://www.cmhc.ca/en/corp/nero/nere/2010/2010-04-10-1200.cfm

Canada’s Economic Action Plan Creates Jobs And Improves Social Housing In Ontario

Author: Toronto Real Estate Admin / Category: News Bulletin

Canada’s Economic Action Plan

KITCHENER, ONTARIO, April 16, 2010 — MP Stephen Woodworth today announced that a housing co-operative located in Kitchener will receive almost $206,000 through Canada’s Economic Action Plan, as part of the Government of Canada’s social housing renovation and retrofit investments.

“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 Woodworth.  “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local jobs.”

The announcement was made at the Bread Roses Co-operative Homes by Stephen Woodworth, Member of Parliament for Kitchener Centre, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

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 which they administer on behalf of the partnership. The remaining $150 million is being delivered for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

Bread and Roses Cooperative Homes will receive a contribution of almost $206,000 from the Government of Canada to complete various interior and exterior upgrades including heating, ventilation and door replacement.

“We congratulate and thank the federal government, MP Stephen Woodworth and CMHC for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents, “ said Ken Elliott, President of the Co-operative Housing Federation of Canada. “Today’s announcement is an excellent example of stimulus funding that works towards preserving jobs, assisting the local economy, and protecting valuable affordable housing assets for Canadians.”

“The CEAP Renovation and Retrofit funding has had a great impact on Bread and Roses Co-operative Homes” said Sahver Kuzucuoglu, Vice-President, Board of Directors, Bread and Roses Co-operative Homes. “We were very pleased to access this funding through CMHC to carry out necessary repairs which will ensure our cooperative’s longevity”.

More information on this and other measures in Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

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

Media inquiries:

Article source: http://www.cmhc.ca/en/corp/nero/nere/2010/2010-04-16-1300.cfm

President’s Toronto SUN Column: All signs point to a healthy market

Author: Toronto Real Estate Admin / Category: Toronto Realtor

TREB President’s
Column as it appears every Friday in the Toronto Sun’s Resale
Homes and Condos section.

Time To Repeal The Land Transfer Tax

June 17, 2011 — Within the next few weeks, my Presidential term with the Toronto Real Estate Board concludes, and while this occasion certainly presents an opportunity for a time of reflection, it is more important to keep looking forward and to keep the spotlight shining on key issues such as the Toronto Land Transfer Tax.

GTA REALTORS®, and the public, continue to look forward to the fulfillment of the election commitment, of Mayor Rob Ford and numerous City Councillors, to repeal the Toronto Land Transfer Tax.

It is clear that the public expects the Mayor and City Council to move forward with the commitment to repeal the Toronto Land Transfer Tax, and it is unlikely that they will forget about this. 

This is a significant tax: it costs the average Toronto home buyer almost $6,500, and when added to the Provincial Land Transfer Tax, average Toronto homebuyers face almost $14,000 in land transfer taxes.  REALTORS® look forward to working with the Mayor and City Council on a reasonable approach to deliver on this promise.

TREB has consistently opposed the Toronto Land Transfer Tax as an unfair tax that hurts Toronto’s economy.  TREB strongly believes that the commitment by Mayor Rob Ford, and numerous City Councillors, during and after the election campaign to repeal the Toronto Land Transfer Tax was, and is, sensible.

Recently, the City’s Budget Chief has pointed out the budgetary challenges facing the City.  REALTORS® believe that City Council is moving in the right direction by conducting a comprehensive review of City services; we also strongly believe that the commitment to repeal the Toronto Land Transfer Tax can, and should, move forward.

A recent public opinion poll conducted by Ipsos Public Affairs for TREB, found that 75 per cent of Torontonians support Toronto Mayor Rob Ford’s commitment to repeal the Toronto Land Transfer Tax.

In light of the City’s Budget Chief’s recent comments, the poll contained interesting results.  In particular, even when asked to consider the City’s expected budget shortfall, the public’s support for the repeal of the Toronto Land Transfer Tax remains very strong, with 68 per cent of Torontonians believing that the Mayor should follow-through on this commitment, despite the City’s budget challenges. 

The poll also found that the public is paying attention to this issue: a large number of Torontonians, 61 per cent, were previously aware that Mayor Ford has committed to repeal the Toronto Land Transfer Tax.

We have an obligation to protect the affordability of home ownership for future generations. From job creation to providing a healthy and stable environment for raising a family, home ownership matters to people, communities and Ontario.

Bill Johnston is President of the Toronto Real Estate Board, a professional association that represents 31,000 REALTORS® in the Greater Toronto Area. 

Follow TREB on www.twitter.com/TREB_Official, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

  • President’s Toronto Sun Column Archive.

Article source: http://www.torontorealestateboard.com/pres_sun_col/index.htm

October Housing Charts Available

Author: Toronto Real Estate Admin / Category: Toronto Realtor

A series of charts summarizing key residential statistics for the
GTA

May 2011



2011

April [March 5]
March [April 5]
February [March 3]
January [February 4]


2010

December [January 6]
November [December 6]
October [November 5]
September [October 5]
August [September 3]
July [August 5]
June [July 6]
May [June 3]
April [May 5]
March [April
6]
February [March
3]
January [February
3]

2009

December [January 6]
November [December 3]
October [November
6]
September [October
5]
August [September 3]
July [August 6]

Article source: http://www.torontorealestateboard.com/consumer_info/housing_charts/index.htm

Ontario REALTORS support grow ops registry bill

Author: Toronto Real Estate Admin / Category: Toronto Realtor

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Article source: http://www.torontorealestateboard.com/consumer_info/market_news/news2010/pdf/OREA_PR_Growops_Nov_25_10.pdf

Canada’s Economic Action Plan Creates Jobs and Improves Social Housing in Ontario — Belleville

Author: Toronto Real Estate Admin / Category: News Bulletin

Canada’s Economic Action Plan

BELLEVILLE, ONTARIO, April 19, 2010 — The Government of Canada announced today that a housing co-operative located in Belleville will receive more than $110,000, through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made at Trent-Moira Co-operative Estates Inc. by Daryl Kramp, Member of Parliament for Prince Edward-Hastings, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“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 Kramp. “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local 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 which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

Trent-Moira Co-operative Estates Inc. will receive a contribution from the Government of Canada to upgrade safety items such as electrical breaker panels, fire doors, emergency lights, and to retrofit kitchen cabinets.

“We congratulate and thank the federal government, MP Daryl Kramp and CMHC for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents,” said Ken Elliott, President of the Co-operative Housing Federation of Canada. “Today’s announcement is an excellent example of stimulus funding that works towards preserving jobs, assisting the local economy, and protecting valuable affordable housing assets for Canadians.”

“In the spirit of cooperation, Trent Moira Co-operative Estates will continue to strive to provide quality affordable housing to future generations,” said Kevin Betts, President of Trent-Moira Co-operative Estates. “Thanks to the Government of Canada and CMHC, we are able to carry out necessary repairs which will ensure our cooperative’s longevity; for without the grant this work could not have been completed.”

More information on this and other measures in Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

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.

Media inquiries:

Stephen Derksen
CMHC, Ontario Region
416-218-3443

Charles Sauriol
CMHC Media Relations
613-748-2799

Michelle Bakos
Office of Minister Finley
819-994-2482

Article source: http://www.cmhc.ca/en/corp/nero/nere/2010/2010-04-19-0900.cfm