A $180-million funding agreement between the Government of Canada and the Province of British Columbia will help create more affordable housing options for B.C. residents and continue to reduce the number of households in housing need.
Under the agreement, both orders of government will provide matching contributions of $90 million each over the next three years to fund programs that support a range of housing needs for low-income individuals, families and seniors. The overall objective of the agreement is to improve access to affordable housing that is sound, suitable and sustainable.
Funding can go toward new construction, renovation, homeownership assistance, rent supplements, shelter allowances, and accommodations for victims of family violence.
The agreement comes as a result of the recently announced Investment in
Affordable Housing 2011-2014 Framework Agreement between the federal, provincial and territorial governments. The framework recognizes the diversity of affordable housing needs of Canadians and that a range of solutions is needed to meet local needs and priorities. Under this framework, provinces and territories have responsibility for the design and delivery of affordable housing programs that address specific housing needs in their jurisdictions.
Both orders of government will report annually to the public regarding the investments and progress toward achieving the intended outcomes of the initiative. James Moore, Minister of Canadian Heritage, Minister for Official Languages and Regional Minister for British Columbia, on behalf of Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) along with Rich Coleman, Minister of Energy and Mines and Minister Responsible for Housing, Province of British Columbia, made the announcement on July 25.
"Our government is committed to working with the Province of British Columbia to develop and implement solutions to housing," said Moore in a news release. "This agreement recognizes the need for local solutions to housing challenges and the importance of reporting on progress on achievement of outcomes."
In September 2008, the Government of Canada committed to a five-year investment of more than $1.9 billion in housing and homelessness to address the needs of low-income Canadians, those at risk of homelessness, and the homeless. This included a two-year renewal of the Affordable Housing Initiative and renovation programs until March 31, 2011 with a commitment to consult on the use of the investments for the 2011-14 period.
"Over the last decade, the Province has invested $2.8 billion and created more than 20,000 new units of affordable housing," added Coleman. "These accomplishments have been driven by a sound provincial housing strategy, strategic investments and partnerships with all levels of government and community agencies. This new agreement will help us continue to create safe, quality, affordable housing for B.C. residents in need."
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