Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation
Government of Saskatchewan

Government of Saskatchewan

July 07, 2016 16:00 ET

Social Infrastructure Spending Strengthens Communities and Grows the Economy in Saskatchewan

REGINA, SASKATCHEWAN--(Marketwired - July 7, 2016) - The Honourable Ralph Goodale, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, and the Honourable Donna Harpauer, Minister of the Ministry of Social Services, today announced measures to give Canadians greater access to more affordable housing, including the doubling of current funding under the Investment in Affordable Housing initiative, supporting affordable housing for seniors, building and renovating shelters and transition houses for victims of family violence, and addressing repairs and improving energy and water efficiency of existing social housing.

Federal Budget 2016 investments in affordable housing will provide targeted support to those who need it most, including in Saskatchewan, and create good jobs that help grow Canada's economy in a clean and sustainable way. The federal and provincial/territorial governments will work together to quickly deliver the new funding. Over the next two years, almost $74.1 million in funding will be jointly invested in Saskatchewan by the federal and provincial governments in various initiatives to support the housing needs of Saskatchewan citizens.

Quotes

"Through new investments in housing, the Government is helping to strengthen the economy and improve the quality of life for seniors and families, providing better places to live and grow." - Honourable Ralph Goodale, Minister of Public Safety and Emergency Preparedness on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"The Government of Saskatchewan is proud to work with the Government of Canada to improve affordable housing options for seniors, maintain existing social housing stock, and construct and renovate shelters for victims of family violence. This investment will help improve the quality of life of Saskatchewan citizens, which fits in with our vision of keeping Saskatchewan strong and moving forward." - Honourable Donna Harpauer, Minister of Social Services and Minister Responsible for Saskatchewan Housing Corporation

Quick Facts

  • The Government of Canada is investing an additional $54.8 million over the next two years to help citizens of Saskatchewan in need access affordable housing.
  • The funding is in addition to more than $18 million joint annual funding provided by the governments of Canada and Saskatchewan under the Investment in Affordable Housing agreement to help create more affordable housing options in Saskatchewan.
  • The Government of Saskatchewan 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. Initiatives can include, for example, new construction, renovation, affordability assistance and independent living (accessibility, modifications for persons experiencing disabilities and seniors), and support of accommodations for victims of family violence.

The new federal government funding includes:

  • some $7.7 million to support the construction, repair and adaption of affordable housing for seniors;
  • almost $3.8 million to support the construction and renovation of shelters and transition houses for victims of family violence; and
  • almost $24 million to help address the increasing demand for repairs as social housing units age, and to improve efficiency and reduce energy and water use.

Stay Connected

• 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, provide support for Canadians in housing need, and offer 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 us on Twitter, YouTube, LinkedIn and Facebook.

• 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. Since 2007, the Government of Saskatchewan has invested almost $700 million to develop and repair more than 14,600 homes around the province.

BACKGROUNDER

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 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; and

  • $177.7 million to address the housing needs in the North and Inuit communities.

To support $573.9 million for retrofits and renovations of social housing units in Canada, at least $485 million is also provided through the IAH and $82.7 million is delivered by the Government of Canada, through Canada Mortgage and Housing Corporation.

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