Governments of Canada and Ontario Celebrate New Affordable Housing in Elgin County
Posted by: Toronto Real Estate Admin / Category: News Bulletin
AYLMER, ONTARIO, May 28, 2010 — Funding of more than $1.7 million for 23 new affordable housing rental units for low-income seniors and persons with disabilities was announced today.
Joe Preston, Member of Parliament for Elgin – Middlesex – London, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Steve Peters, Member of Provincial Parliament for Elgin – Middlesex – London; and Bob Habkirk, Mayor of the Town of Aylmer, made the announcement.
“Locally, this achievement gives a hand-up to seniors and persons with disabilities who need safe, affordable housing that meets their needs,” said MP Preston. “Our government is investing in this project to get the local economy moving, creating immediate jobs and economic stimulus for the community.”
“These 23 affordable rental units will make a difference in the lives of seniors and persons with disabilities,” said MPP Peters. “This project is an example of what great partnerships can achieve. I am looking forward to seeing more projects getting off the ground.”
“The Town of Aylmer is very pleased with the Brown Street project moving forward,” said Mayor Habkirk. “It will provide much needed affordable housing for the Town, and meets an identified need for the East Elgin area. The Town welcomes it to our community.”
The 23 affordable rental unit project located at 69 Brown Street received more than $1.7 million. The federal and provincial funding is complemented by more than $361,000 in municipal financial incentives.
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 five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this and provides $475 million, over two years, to build new rental housing for seniors and persons with disabilities. Overall, the Economic Action Plan includes $2 billion over two years in new and existing social housing and another $2 billion in loans 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.
In 2009, Ontario allocated a combined federal and provincial investment of $704 million for the renovation of social housing, and $540 million for the creation of new affordable housing. This investment is part of the Open Ontario plan, and will create an estimated 23,000 jobs over the course of the program, while strengthening local economies across the province. To date, Ontario has approved more than $459 million for construction-ready projects, which will provide affordable housing for low-income families, senior citizens, and persons with disabilities, and $343 million for repairs benefiting some 148,000 social housing units. To find out more about affordable housing in Ontario, visit www.mah.gov.on.ca.
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.
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For more information visit: www.mah.gov.on.ca
See related speech
MP Joe Preston celebrates the groundbreaking of another affordable housing project in Elgin County at 69 Brown Street in Aylmer, ON.
Pictured from Left to right: MPP Steve Peters, MP Joe Preston, Peter Ostojic, Aylmer Mayor Bob Habkirk and Joe Ostojic.
Article source: http://www.cmhc.ca/en/corp/nero/nere/2010/2010-05-28-1130.cfm
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