Canada-Alberta Agreement Will Help Lower-Income Albertans With Housing Needs

CALGARY, ALBERTA--(Marketwire - Nov. 18, 2011) - The Government of Canada and the Government of Alberta today announced a cost-shared investment of more than $121 million over three years under a new affordable housing agreement that will continue to reduce the number of residents in housing need. The Honourable Diane Ablonczy, Minister of State of Foreign Affairs (Americas and Consular Affairs), on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) along with the Honourable Doug Griffiths, Minister of Alberta Municipal Affairs, made the announcement today.

"Our Government believes that all Canadians need a stable, safe and affordable place to call home," said Minister Ablonczy. "We are committed to helping deliver affordable housing solutions in partnership with the provinces and territories, along with opportunities for economic growth."

"The Alberta government is committed to helping lower-income Albertans meet their housing needs, which is a basic necessity and an important foundation to creating a better life for themselves and their families," said Minister Griffiths. "We welcome this partnership with the federal government and the flexibility to focus on housing solutions that best meet our provincial priorities and local needs."

The agreement comes as a result of the previously announced Investment in Affordable Housing 2011-2014 Framework Agreement between federal, provincial and territorial governments.

Under the new agreement, Alberta Municipal Affairs will use the funds to provide affordable housing options to vulnerable Albertans including seniors, people with special needs, and victims of family violence. First year funding, totalling over $40.6 million, will contribute to the development of nine new affordable housing projects, adding 408 units supported under the 2011/2012 Housing Capital Initiatives program.

The Alberta government is currently reviewing how best to use the remainder of funding to complement existing housing programs and address housing needs across the province. Program and funding details will be communicated as decisions are made over the term of the agreement.

Both orders of government will report annually to the public regarding the investments and progress toward achieving the intended outcomes of the initiative. Recognizing the diversity of affordable housing needs throughout the country, Alberta has responsibility for the design and delivery of programs in order to address specific priorities in its jurisdiction.

Today's announcement fulfills the remainder of a five-year commitment made in September 2008 by the Government of Canada to provide more than $1.9 billion to address the needs of low-income Canadians, those at risk of homelessness, and the homeless.

Canada's Economic Action Plan

The federal investments announced today are part of the Government of Canada's five-year, $1.9 billion commitment to address the needs of low-income Canadians, those at risk of homelessness, and the homeless announced in 2008. Canada's Economic Action Plan built on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing, plus $2 billion in low-cost loans to municipalities for housing-related infrastructure.

Government of Alberta

Through partnership with federal and municipal governments, community groups, the non-profit and private sectors, Alberta has made great strides to increase the supply of affordable housing across the province. Since 2007, the Government of Alberta has supported the development of 11,636 affordable housing units for homeless and lower-income Albertans through capital grant funding in 62 communities. The province celebrated achieving and exceeding its goal of 11,000 units by 2012 in September. For more information on Alberta's housing support, visit www.housing.alberta.ca.

CMHC

To find out more about how the Government of Canada, through CMHC, is 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 more information on the Investment in Affordable Housing 2011-2014 Framework Agreement visit: http://www.cmhc.ca/en/corp/nero/nere/2011/2011-07-04-0930.cfm,

Backgrounder

2011/2012 Housing Capital Initiatives jointly-funded projects in Alberta

Under the new affordable housing agreement, the Government of Canada and Government of Alberta are investing a total of more than $40.6 million in nine projects that will provide 408 more housing units for lower-income and homeless Albertans. The cost-shared grants are being issued through the 2011-2012 Housing Capital Initiatives program, which supports housing partnerships that leverage the resources and expertise of municipalities, the federal government, non-profit organizations, local housing management bodies, and the private sector.

H = Units for Homeless Albertans

L-M = Units for low to moderate income Albertans

O = Home ownership

Community		Project Proponent		Project Name		Units		Federal/ Provincial Funding
Calgary		Calgary Homeless Foundation		Lodging House		100 H		$10,813,265
Calmar		Leduc Foundation		Calmar Affordable Housing		8 L-M		$1,200,000
Edmonton		Giacobbo Holdings Ltd.		Baranow Estates II		51 L-M		$3,000,000
Edmonton		Greater Edmonton Foundation		Ottewell Terrace Apartments		54 L-M		$8,100,000
Medicine Hat		McMan Youth, Family and Community Services Association		Supported Housing for the Chronically Homeless		10 H 1 L-M		$547,726
Red Deer		981078 Alberta Ltd.		Coronation Park Village		33 L-M		$3,300,000
Sexsmith		67776 Alberta Ltd.		Heritage Point		22 L-M		$2,294,912
St. Albert		Alpha-Anderson Joint Venture		Big Lake Pointe		78 L-M		$6,787,554
Various locations in rural Alberta		Habitat for Humanity				51 O		$4,573,531
Total						408		$40,616,988