Housing co-ops welcome quick rollout of second-year stimulus spending

OTTAWA , Jan. 13 /CNW Telbec/ - On behalf of Canada's 2,200 housing co-operatives, the Co-operative Housing Federation of Canada (CHF Canada ) welcomed the federal government's early action on the second year of funding for CMHC's $150 million Renovation and Retrofit Initiative for existing affordable housing.

Of the total $1 billion in federal stimulus funding available to renovate and retrofit social housing, first announced in Ottawa's January 2009 Economic Action Plan, $150 million was earmarked for CMHC's Renovation and Retrofit Initiative to assist existing federally administered affordable housing projects. Renovation projects include general improvements, energy efficiency upgrades or conversions, and supports for persons with disabilities.

CHF Canada noted that, this year, the federal government will provide stimulus funding for regeneration (redevelopment) projects on a case-by-case basis.

The first $75 million was allocated to over 650 housing groups in 2009/10, leaving the remaining $75 million to be allocated in 2010/11. The application call for the first year closed on June 26, 2009 . The deadline for applications during the second round of the Renovation and Retrofit Initiative is February 22 , 2010."This expedited deadline will help us ensure that this significant federal investment to protect Canada's aging stock of affordable housing will be put to best use," said CHF Canada executive director Nicholas Gazzard. "The compressed timeline of this stimulus initiative has been a challenge for all concerned, so we congratulate Minister Diane Finley and CMHC for building on the experience of last year's program with more flexible criteria and a more comfortable timetable."

CHF Canada is the national voice of the Canadian co-operative housing movement. Its members include nearly 900 non-profit housing co-operatives and other organizations across Canada . More than a quarter of a million Canadians live in housing co-ops, in every province and territory.

For further information: Nicholas Gazzard, Executive Director of CHF Canada, [phone] ext. 230 or [phone] (cell), [email protected]; Scott Jackson, Program Manager, National Communications, 1-877-533-2667 ext. 122, [email protected]