Governments of Canada and Saskatchewan Invest in Affordable Housing in Nipawin

NIPAWIN, SASKATCHEWAN--(Marketwired - Oct. 25, 2013) - Renters in Nipawin will soon have access to safe, quality housing with the construction of a new 24-unit apartment building located at 123 - 6^th Street East. Funding for this project is being made possible through federal, provincial and municipal contributions.

Randy Hoback, Member of Parliament for Prince Albert, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), along with Fred Bradshaw, Member of the Legislative Assembly for Carrot River Valley, on behalf of the Honourable June Draude, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement today.

"Our Government is committed to working with Saskatchewan to develop and implement local solutions to housing," said MP Hoback. "This investment will continue to help residents of Nipawin access safe and affordable housing that meets their needs. We remain focused on four priorities, as outlined by the Prime Minister, that Canadians care about most: their families, the safety of our streets and communities, their pride in being a citizen of this country, and of course, their personal financial security."

"Today's announcement is exciting news for the community of Nipawin," said MLA Bradshaw. "Our Government is pleased to play a role in helping 24 individuals and families have a safe place in which to live and build their dreams for the future. This is another example of the Saskatchewan Growth Plan in action to ensure all Saskatchewan people have access to good quality housing now and in the future."

"The housing strategy for Saskatchewan identifies the need for affordable housing for a wide range of families and individuals, including our seniors," said Mayor David Trann. "Town Council has a working housing committee that identifies what is needed and is always looking for solutions to housing needs in Nipawin. The new 24-suite apartment complex will address the needs of our seniors and fits into Nipawin's housing strategy. This complex is welcomed and endorsed by Town Council, who sees partnerships as the way of the future. Through grants provided by federal and provincial governments, with the Town of Nipawin contributing with land and tax incentives, this project has become a reality."

The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) and the Province of Saskatchewan, through Saskatchewan Housing Corporation, contributed a combined total of approximately $400,000 towards 10 units through Capital Rent Subsidy from the federal/provincial Investment in Affordable Housing 2011-2014 Agreement.

This funding comes as a result of the $55 million Canada-Saskatchewan Investment in Affordable Housing (IAH) 2011-2014 Agreement. Under the agreement, the Province of Saskatchewan will use the funds to create new and renovate existing affordable housing for households in need.

The 24-unit project will also be funded through the Government of Saskatchewan's Rental Construction Incentive. Under this program, the province will provide over $156,000 over two years to the Town of Nipawin. The remainder of the project cost will be provided through owner equity and lender financing.

Annually, the Government of Canada, through CMHC, will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 594,000 households living in existing social housing. In Saskatchewan, this represents an estimated 28,000 households. The remaining funding supports housing-related activities and affordable housing programs, including the Investment in Affordable Housing. 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. Economic Action Plan 2013 continues this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. More than 146,769 households across Canada are no longer in housing need as a result of funding provided under the IAH from April 1, 2011 to June 30, 2013.

In October 2012, the Government of Saskatchewan released the Saskatchewan Plan for Growth: Vision 2020 and Beyond, which sets out the Government's vision for a province of 1.2 million people by 2020. The Plan identifies principles, goals and actions to ensure Saskatchewan is capturing the opportunities and meeting the challenges of a growing province. Under the Plan, the province has invested $344 million to help create 12,600 new housing units and repair or upgrade approximately 24,000 more housing units around the province.

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-schl.gc.ca.