Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation
Canada's Economic Action Plan

Canada's Economic Action Plan
Government of Canada

Government of Canada

July 08, 2010 10:30 ET

Canada's Economic Action Plan Creates Jobs and Improves Social Housing in Ontario

TORONTO, ONTARIO--(Marketwire - July 8, 2010) - The Government of Canada announced today that 48 cooperative housing projects located in the Toronto area will receive almost $6 million, through Canada's Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made at Rouge Valley Co-op Homes by Mike Wallace, Member of Parliament for Burlington, 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 Wallace. "Funding renovation and retrofit projects, like these ones, 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.

The co-operative housing projects that will receive contributions from the Government of Canada being announced today are listed in the attached backgrounder.

"We congratulate and thank the federal government, MP Wallace 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 Wes Hosler, 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 co-operation, Rouge Valley Co-operative Homes will continue to strive to provide quality affordable housing to future generations," said Robert Coaten, President, Rouge Valley Board of Directors. "Rouge Valley thanks the Government of Canada and Canada Mortgage and Housing Corporation, for without the grant, the replacement of the kitchen cabinets, counters and two high efficiency boilers as well as an HVAC unit could not have been completed. These significant renovations will have a tremendous positive impact for our members and their quality of life."

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.  

Backgrounder attached.

To view the backgrounder, please visit the following link: http://media3.marketwire.com/docs/CMHC708engBACK.pdf

Contact Information

  • Media inquiries:
    CMHC, Ontario Region
    Dean D'Souza
    416-250-2760
    or
    CMHC Media Relations
    Charles Sauriol
    613-748-2799
    or
    Office of Minister Finley
    Michelle Bakos
    819-994-2482