Governments of Canada and Nova Scotia Extend Funding to Offer More Affordable Housing Solutions in Nova Scotia

HALIFAX, NOVA SCOTIA--(Marketwired - Aug. 5, 2014) - Together, the Governments of Canada and Nova Scotia announced an additional combined investment of some $102 million over five years, to help more individuals and families in need access affordable housing. The funding will be delivered through an extension to the Investment in Affordable Housing (IAH) agreement.

"This investment further demonstrates our Government's commitment to helping Nova Scotians access safe and affordable housing in their communities, while also creating jobs for the local economy," said the Honourable Peter MacKay, Regional Minister for Nova Scotia and Minister of Justice and Attorney General for Canada. "Through this considerable investment, the Province of Nova Scotia will be able to direct funding towards housing solutions that best meet local needs and priorities."

"Too many families and seniors still need affordable housing," said the Honourable Joanne Bernard, Minister of Community Services, who is responsible for Housing Nova Scotia. "The extension of this agreement will help us provide more affordable housing, help seniors live independently in their homes longer, and provide assistance to persons with disabilities to make adaptations to their home. We can't do this work alone and I want to thank the community groups and partners who are working with us to ensure more Nova Scotians have an affordable home."

The federal portion of this funding comes from Economic Action Plan 2013, which announced the Government of Canada's commitment to investing more than $1.25 billion nationally over five years to extend the Investment in Affordable Housing and to creating opportunities for apprentices, which will support the training of skilled labour in residential housing. Governments will report annually to the public regarding the investments and progress toward achieving the intended outcomes of the IAH.

Under the IAH, Housing Nova Scotia has the flexibility to design and deliver a range of affordable housing programs to address local housing needs and priorities. As it continues to implement the provincial housing strategy, Housing Nova Scotia will streamline its programs to help low and modest income families make important repairs to their homes. New initiatives under the Nova Scotia Housing Strategy will include a range of affordable housing options for owners and renters, paths to home ownership, and increased support to seniors, persons with disabilities, and vulnerable Nova Scotians.

"Initiatives such as this federal-provincial agreement are crucial to ensuring we continue to work together to provide quality, choice and affordable housing for all Nova Scotians," said Paul Pettipas, CEO of the Nova Scotia Home Builders' Association. "Funding such as this also creates work and jobs for contractors, builders, construction workers and tradespeople, while providing needed improvements to housing, making Nova Scotia an even better place to live, work and grow."

On October 24, 2011, the Governments of Canada and Nova Scotia announced an IAH agreement with a combined investment of some $61 million for the 2011-2014 period. This new agreement extends the original agreement for the 2014-2019 period with an additional combined investment of some $102 million.

From April 2011 to March 31, 2014, the IAH has already helped more than 183,600 households nationally and close to 7,400 in Nova Scotia.

Today's announcement was made at the Bloomfield Centre in Halifax, a former school being redeveloped as a mixed-use, mixed-income community of at least 478 residential units that will also include non-profit, community and commercial space.

Housing Nova Scotia's mandate is to deliver innovative housing strategies to ensure Nova Scotians can find a home right for them, at a price they can afford, in a healthy, vibrant community with the services and supports they need. For more information on Housing Nova Scotia, visit www.housingns.ca.

To find out more about how the Government of Canada, through Canada Mortgage and Housing Corporation, is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/affordablehousing. For more information on Canada's Economic Action Plan, call 1-800-O Canada or visit www.actionplan.gc.ca.

Backgrounder: For information on the Investment in Affordable Housing, click here.

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