Governments of Canada and Yukon Extend Agreement on Delivery of Investments for Canadians in Housing Need

WHITEHORSE, YUKON--(Marketwire - Aug. 31, 2011) - The Government of Canada and the Government of Yukon today announced the extension of the Affordable Housing Initiative for the 2011-2014 period. The federal funding of $2.955 million will be matched by the Government of Yukon and project proponents for a total investment of $5.91 million over three years. This funding will help Yukoners in need of housing, including seniors, persons with disabilities and low income families.

Yukon will continue to cost share the federal investment and have responsibility for the design and delivery of affordable housing programs under the renewed Affordable Housing Initiative (AHI). Canada Mortgage and Housing Corporation (CMHC) will continue to deliver federally funded renovation programs on non-settlement land in Yukon, similar to off reserve programs in other Canadian jurisdictions. The three year federal investment in the renovation program totals $1.77 million.

Ryan Leef, Member of Parliament for Yukon, 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 Steve Nordick, Minister responsible for Yukon Housing Corporation, made the announcement today.

"Our government is committed to working with Yukon to develop and implement local solutions to housing," said MP Leef. "This investment will continue to help Yukoners access safe and affordable housing that meets their needs."

"Yukon extended its agreement with Canada to secure funding for housing programs," said Minister Nordick. "Yukon Housing Corporation is working on proposals for projects to address the housing needs of Yukoners."

In September 2008, the Government of Canada committed to a five-year investment of more than $1.9 billion in housing and homelessness programs to address the needs of low-income Canadians, those at risk of homelessness, and the homeless. This included a two-year renewal of the Affordable Housing Initiative and renovation programs until March 31, 2011 with a commitment to consult on the use of the investments for the 2011-2014 period.

The federal investments announced today are part of the Government of Canada's $1.9 billion commitment for housing and homelessness programs 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.

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 Affordable Housing framework, visit www.cmhc.ca/en/corp/nero/nere/2011/2011-07-04-0930.cfm

For more information on Yukon Housing Corporation, visit www.housing.yk.ca.