2010 Budget Should Contain Key Housing Policies, says co-operative housing
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1. An accountability framework for federal housing money transferred to provinces and territories, with measurable reductions in core housing need in Canada; 2. A new program so that social housing providers can continue to offer rent-geared-to-income housing to low-income households, as their current federal funding agreements come to an end; 3. Expanded availability of low cost federal loans for housing repair and renovation, using Canada Mortgage and Housing Corporation's (CMHC's) Direct Lending Program.
Housing co-ops, said Gazzard, are ready to help safeguard Canada's aging social housing stock. "We have seen a massive national response by housing co-ops to the Federal Renovation and Retrofit Initiative; co-ops have proposed far more work than could possibly be handled by a grants program. Refinancing these co-ops through repayable federal loans will be good for the economy, profitable for government, and a lifeline for those Canadians who use co-operative housing. With federal lending rates as low as they are now, let's not let a great opportunity go to waste."
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For further information: Nicholas Gazzard, Executive Director, (613) 230-2201 ext. 230, or (613) 293-8913 (cell), [email protected]; David Granovsky, Government Relation Co-ordinator, (613) 230-2201, ext. 222, or (613) 290-7687 (cell), [email protected]
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