Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 30, 2009 23:59 ET

Renovation funding a boost for the co-op housing sector

VICTORIA, ON, May 30 - Speaking to delegates at the
Co-operative Housing Federation of Canada's (CHFC) Annual General Meeting, Mr.
Ed Komarnicki, Parliamentary Secretary to the Honourable Diane Finley,
Minister of Human Resources and Skills Development Canada, and Minister
Responsible for Canada Mortgage and Housing Corporation (CMHC), today
highlighted investments under Canada's Economic Action Plan aimed at the
renovation and retrofit of existing social housing.

"Across Canada, social housing helps almost 625,000 households and we
know that much of this housing is getting older," said Mr. Komarnicki. "Our
investments will provide money to renovate and energy-retrofit social housing
and improve the quality of life for residents of these communities by keeping
their homes safe and affordable."

As part of Canada's Economic Action Plan, the Government announced $1
billion for social housing renovation and retrofit. Eligible repairs include
general improvements, energy-efficiency upgrades or conversions and
modifications in support of persons with disabilities. Overall, Canada's
Economic Action Plan provides $7.8 billion to build quality housing, stimulate
construction, encourage home ownership and enhance energy efficiency.

"Our government is taking timely and focused action to invest in
housing," added Mr. Komarnicki. "These investments will not only build quality
housing but they will stimulate construction, encourage home ownership and
enhance energy efficiency."

During his remarks, Mr. Komarnicki also presented the CMHC Award for
Outstanding Contribution to Co-operative Housing. The award, recognizing the
achievements of individuals and organizations who have made significant
contributions to co-operative housing in Canada, was presented to
representatives of the Federal Co-operative Housing Stabilization Fund.

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.

CHF Canada is the national voice of the Canadian co-operative housing
movement. Its members include nearly 900 non-profit housing co-operatives and
other organizations across Canada. More than a quarter of a million Canadians
live in housing co-ops, in every province and territory.

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 To learn more about
Canada's Economic Action Plan, visit

Contact Information

  • Kristen Scheel, CMHC Media Relations, (613)
    748-2799; Michelle Bakos, Office of the Honourable Diane Finley, Minister of
    Human Resources and Skills Development Canada, (819) 994-2482