Canada’s Economic Action Plan Creates Jobs and Improves Social Housing in Ontario
Posted by: Toronto Real Estate Admin / Category: News Bulletin
ORILLIA, ON, March 12, 2010 — The Government of Canada announced today that two co-operatives located in Orillia will receive more than $158,000 through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.
The announcement was made at Couchiching Co-operative Homes Inc. by Bruce Stanton, Member of Parliament for Simcoe North, 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 Stanton. “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 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.
The housing co-operatives that will receive contributions from the Government of Canada being announced today are:
“We applaud and thank the federal government, Mr. Stanton and CMHC for making a solid investment to help renovate and retrofit these affordable homes,” said Ken Elliott, President of the Co-operative Housing Federation of Canada. “Today’s announcement for both non-profit housing co-operatives 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 members of Couchiching Co-operative Homes greatly appreciate CMHC’s approval of our grant application to have new insulation added to the attics of our townhouse units and the apartment building. According to the members of the co-op, this has already shown significant savings on utility bills,” said Mary Dempsey, President of the Board of Directors of Couchiching Co-operative Homes. “We are also in the process of receiving new storm doors and patio doors to replace the deteriorating, 24-year-old doors, thanks to the Canadian Government and CMHC Renovation and Retrofit grants.”
“We are delighted that our co-operative will benefit from the federal government’s renovation and retrofit initiative delivered by CMHC” said Brian Smith, President of The Coral Co-op in Orillia. “This funding has literally provided the roof over our heads and 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:
See related speech
MP Bruce Stanton, Simcoe-North announcing more than $158,000 for two Orillia co-operatives through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.
Article source: http://www.cmhc.ca/en/corp/nero/nere/2010/2010-03-12-0930.cfm
Tags: Toronto House, Toronto Housing, Toronto Realtor