MULTIMEDIA UPDATE: Canada and Manitoba Invest in Affordable Housing

WINNIPEG, MANITOBA--(Marketwired - Nov. 18, 2016) -

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Terry Duguid, Parliamentary Secretary to Federal Families, Children and Social Development Minister and Minister Responsible for the Canada Mortgage and Housing Corporation Jean-Yves Duclos, along with Manitoba Families Minister Scott Fielding, today announced measures to give Canadians greater access to more affordable housing. These measures include the doubling of current funding under the Investment in Affordable Housing (IAH) agreement, supporting affordable housing for seniors and victims of family violence, and addressing repairs of existing social housing.

"Our government remains committed to making significant investments in affordable housing, strengthening Canadian communities, and helping create jobs and grow the middle class and those working hard to join it," said Parliamentary Secretary Duguid. "We are providing better places for families, seniors and individuals to live and grow, and building a strong foundation for a sustainable economic future."

Under the two-year agreement, close to $67.7 million will be committed from the federal government and more than $21.7 million from the provincial government to affordable housing investments in Manitoba.

"Safe and affordable homes are a foundation that Manitoba families can build on," said Minister Fielding. "We look forward to construction and renovation work that will bring much needed repairs to rental units across the province, improved housing in northern communities, and better shelter for victims of family violence and seniors in need. Our government is determined to make Manitoba the most improved province in Canada."

In addition to existing funding under the IAH, the funding levels by the Governments of Canada and Manitoba have been doubled to almost $43.5 million over two years. The new two-year funding also includes:

• almost $8.7 million to support the construction, repair and adaption of affordable housing for seniors;
  
• almost $4.3 million to support the construction and renovation of shelters and transition houses for victims of family violence; and
  
• $33 million to help address the increasing demand for repairs as social housing units age, and to improve efficiency and reduce energy and water use.

The new funding is in addition to approximately $166 million joint eight-year funding provided by the governments of Canada and Manitoba under the IAH agreement to help create more affordable housing options in Manitoba. The Manitoba government is responsible for choosing the programs they design and deliver, and also has the flexibility to invest in a range of affordable housing programs in order to meet local needs.

Work is already underway in Manitoba to identify projects to invest the new funding. Today, a new request for proposals (RFP) was issued to create opportunities for low to moderate income families to become homeowners. Municipalities, private and public or municipal non-profit housing corporations, housing co-operatives and private developers can apply for a fully forgivable loan to build, acquire or renovate homes when they are sold to eligible buyers. The deadline to apply is Dec. 22. In the coming weeks, another RFP will be released to eligible non-profit housing organizations to renovate and repair Manitoba's existing social housing properties.

Information about these and any future RFPs, including eligibility criteria and application deadlines, will be posted at www.gov.mb.ca/housing/.

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, call 1-800-668-2642 or visit www.cmhc.ca or follow CMHC on Twitter, YouTube, LinkedIn and Facebook.

BACKGROUNDER

INVESTMENTS IN AFFORDABLE HOUSING IN CANADA

Federal Budget 2016 investments in affordable housing will provide targeted support to those who need it most, including in Manitoba, and create good jobs that help grow Canada's economy in a clean and sustainable way.

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 adaptation of affordable housing for seniors;
  • $89.9 million to support victims of family violence, and the construction and renovation of shelters and transition houses;
  • $177.7 million¹ 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.

¹ Part of this funding will be delivered through Indigenous and Northern Affairs Canada (INAC)

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