TORONTO, ONTARIO--(Marketwired - Sept. 30, 2016) - The Governments of Canada and Ontario today announced the City of Toronto will be receiving more than $154 million in social infrastructure funding, which doubles the City's allocation of the Investment in Affordable Housing Agreement and provides targeted support to housing programs for those who need it most in the City of Toronto.
Jean-Yves Duclos, Federal Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) along with Chris Ballard, Ontario Minister of Housing and John Tory, City of Toronto Mayor, made the announcement today at Regent Park in Toronto.
- The Governments of Canada and Ontario each contributed to Toronto's allocation of Social Infrastructure Funding.
- The funding may be used for a variety of social infrastructure needs such as affordable housing for seniors, building and renovating shelters and transition houses for victims of family violence, addressing repairs and improving energy and water efficiency of existing social housing.
- This is part of a larger investment that will help transform Ontario's social and affordable housing system to one that is based on client choice, enabling people to live as independently as possible in their community.
- Since 2003, more than $1.2 billion has been provided by the Governments of Canada and Ontario in total assistance for affordable housing in Toronto.
"Our Government is committed to making significant investments in affordable housing here in Toronto and across Canada. We are strengthening Canadian communities and helping create jobs and grow the middle class and those fighting hard to join it. We are providing better places for families, seniors and individuals to live and grow, and building a strong foundation for a sustainable economic future." - Jean-Yves Duclos, Federal Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation
"Ontario is answering the call for better access to affordable housing in Toronto by doubling the City of Toronto's funding. We're doing this through our Investment in Affordable Housing program, under the Social Infrastructure Fund. By making targeted investments where they are needed most, we're ensuring Ontario will continue to be a place where the work of building stronger communities starts at home."- Chris Ballard, Minister of Housing, Ontario
"This is a good first step in addressing the affordable and social housing crisis Toronto is facing, and City Council thanked the other levels of government by accepting the funding at the July council meeting. To make a real difference in the lives of the people of Toronto we need to build on this investment with both the provincial and federal government. Without real partnerships from all levels of government, Toronto will become more and more unaffordable, affecting people of all ages and demographics as well as the social and economic health of our city. We have to keep Toronto affordable for the good of our economy and our residents." - John Tory, Mayor, City of Toronto
- Canada Mortgage and Housing Corporation (CMHC) has been helping Canadians meet their housing needs for more than 70 years. As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of CMHC's operations. For more information, please call 1-800-668-2642 or visit www.cmhc.ca or follow CMHC on Twitter, YouTube, LinkedIn and Facebook.
- Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, the province has committed more than $4 billion in funding for affordable housing, which has helped support more than 20,000 new affordable rental housing units, more than 275,000 repairs and improvements to social and affordable housing units and rental and down payment assistance to more than 90,000 households in need. These investments complement the commitments made through Ontario's recent Long-Term Affordable Housing Strategy update, and support the goal of ending chronic homelessness in 10 years. For more information on Affordable housing in Ontario, visit ontario.ca/affordablehousing.
- Canadians are invited to help shape the National Housing Strategy by joining the conversation on www.LetsTalkHousing.ca. Your ideas will contribute to the future of housing in Canada.
Investments in Affordable Housing in Canada
Measures over the next two years to give Canadians greater access to more affordable housing include:
- Doubling of the current IAH funding levels by the Government of Canada and provinces and territories, to more than $1 billion over two years, starting in 2016-2017 and 2017-2018.
- Through the IAH, the Government of Canada is also providing over two years:
- $200.1 million to support the construction, repair and adaption of affordable housing for seniors;
- $89.9 million to support victims of family violence, and the construction and renovation of shelters and transition houses; and,
- $177.7 millioni to address the housing needs in the North and Inuit communities.
- $490 million for retrofits and renovations of social housing units in Canada. This funding is in addition to the $77.7 million being delivered by the Government of Canada, through Canada Mortgage and Housing Corporation.
||Part of this funding will be delivered through Indigenous and Northern Affairs Canada (INAC).