Federal and Provincial Governments Enable Homeowners to Improve Their Homes

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Nov. 21, 2012) - A federal and provincial investment of $7.6 million into the Provincial Home Repair Program (PHRP) has made it possible for more than 2,000 low-income homeowners to renovate and repair their homes this past year. This investment has also helped to stimulate the economy and create jobs in Newfoundland and Labrador.

The Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Paul Davis, Minister Responsible for Newfoundland and Labrador Housing Corporation (NLHC), made the announcement today.

"Our Government believes that all Canadians deserve a stable, safe and affordable place to call home," said Minister Finley. "We are committed to helping deliver affordable housing solutions in partnership with the provinces and territories to create jobs and economic growth."

"The Provincial Home Repair Program is one of our most successful and longest-running programs," said Minister Davis. "Over the past 35 years, PHRP has provided more than $324 million in loans and grants to approximately 50,000 low-income households throughout the province. Preserving the quality of affordable housing is a priority for this government, and this program plays a significant role in helping to sustain that quality."

On August 16, 2011, the Governments of Canada and Newfoundland and Labrador announced a combined investment of close to $41 million under the new Agreement for Investment in Affordable Housing 2011-2014. Following the signing of this agreement, the provincial government, through NLHC, extended PHRP for another three years.

The provincial government is investing an additional $6 million in PHRP over the next three years, for a total provincial investment of $18 million. This increases the total PHRP budget for program years 2011-2014 to $30 million. This investment directly supports the goals of the Social Housing Plan for Newfoundland and Labrador - Secure Foundations, released by the Provincial Government in August 2009, outlining a long-term vision for social housing. It is aimed at improving the housing circumstances of low-income households and helping create healthier communities.

The PHRP benefits more than 2,000 households annually. The average PHRP recipient is 66 years of age, a rural resident with a household income of approximately $18,200 and lives in a 45-year old house. The types of repairs that can be undertaken with a PHRP loan or grant include upgrades to heating, electrical or plumbing systems, and renovations and retrofits to structures, foundations, windows, doors, roofing or siding. Applications are assessed in the order in which they are received and priority is given to emergency repairs. Applicants must be homeowners with annual incomes of $32,500 or less.

The Government of Canada, through CMHC, will invest approximately $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In Newfoundland and Labrador, this represents some 12,250 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

To find out more about how the Government of Canada and Canada Mortgage and Housing Corporation are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc-schl.gc.ca.

BACKGROUNDER

Provincial Home Repair Program Funding by Region