Mortgage
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| Canada’s Economic Action Plan Creates Jobs and Improves Social Housing in Ontario |
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BARRIE, ONTARIO, February 19, 2010 — The Government of Canada announced today that 13 housing cooperatives located in Ontario will receive more than $2 million, through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.
The announcement was made by Patrick Brown, Member of Parliament for Barrie, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).
“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth," said MP Patrick Brown. “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create jobs.”
The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.
