Phase 2 of the Federal Community Housing Initiative expands eligibility and commits $118.2 million towards rental assistance for low-income households and for community-housing providers.
Ahmed Hussen, Canada’s housing minister and minister responsible for Canada Mortgage and Housing Corporation, has announced on January 13th a $118.2 million investment in the Federal Community Housing Initiative. The CMHC implemented the Federal Community Housing Initiative (FCHI) as part of the National Housing Strategy, a 10-year plan that will invest $ 72 billion so that all Canadians can have a place to call home.
This program offered support to community-housing projects whose federally administered Operating Agreements were to expire between April 1, 2016 and March 31, 2028 with an extension of rental subsidies.
This new announcement extends eligibility to housing providers whose CMHC agreements ended before April 1, 2016.
Over seven years, these additional $118.2 million “are estimated to be able to support and stabilize the operations of some 18,000 community-housing units by ensuring affordability for low-income residents,” according to the Government’s news release.
The extension ensures qualified housing providers can continue to offer housing at below-market rates to their tenants.
“This Phase 2 extension ensures that families don’t have to worry about keeping a roof over their heads and provides safe, affordable housing that meets their needs,” Hussen added.
With provinces feeling the brunt of the housing crisis and the toll of a lingering pandemic, the announcement is timely and the need clear, says Stéphan Corriveau, executive directorof the Community Housing Transformation Centre. The subsidies are evidence of sector-wide collaboration, he adds.
“The Centre is very happy that our collaboration with CMHC, back in 2021, with real-life testing of the program brought it to fruition for thousands of households.”
Tim Ross, executive director of the Co-operative Housing Federation of Canada, said that“today’s announcement provides both housing security and affordability for individuals and families, as well as certainty for co-operative and non-profit housing providers.”
Eligible housing providers will receive enrolment packages in the coming weeks. To find out more, visit the CMHC website.
