News Release - May 19, 2009
AFFORDABLE HOUSING IN SASKATCHEWAN GETS A $161-MILLION BOOST
The Government of Canada and the Province of Saskatchewan are partnering on a joint investment to build new and renovate existing affordable housing. This investment will help create jobs, strengthen the economy and improve the quality of life for Saskatchewan families.
Both levels of government officially signed an amendment to the Canada-Saskatchewan Affordable Housing Program Agreement and an extension to the Canada-Saskatchewan Housing Renovation Program Agreement, resulting in a joint investment of more than $161 million over the next two years.
Today's event was held at Monarch Yards, an affordable rental housing project for low-income families which celebrated its official opening today.
Ed Komarnicki, Federal Parliamentary Secretary to the Minister of Human Resources and Skills Development Canada and to the Minister of Labour, on behalf of Diane Finley, Minister of HRSDC and Minister Responsible for Canada Mortgage and Housing Corporation, along with Saskatchewan's Social Services Minister and Minister responsible for the Saskatchewan Housing Corporation Donna Harpauer made the announcement at a signing ceremony today.
"The Government of Canada continues to work hard to support Canadians during these challenging economic times and has moved aggressively to ensure Canada's Economic Action Plan is implemented rapidly," said Komarnicki. "We are helping the most vulnerable, including seniors and persons with disabilities, access suitable, affordable housing, as well as making needed renovations to existing social housing both in Saskatchewan and across Canada."
"Together with our federal partners, our government is strongly committed to making affordable housing available in Saskatchewan," Harpauer said. "We welcome this significant investment, which underlines our resolve to honour this historical agreement and to build brighter futures for Saskatchewan families, seniors and persons with disabilities."
Today's announcement includes federal funding of $66 million over two years under Canada's Economic Action Plan as part of a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada. The province will also contribute $66 million for these initiatives over the next two years.
These investments build upon the $1.9-billion commitment for housing and homelessness programs announced by the Government of Canada in September 2008, which extended the Affordable Housing Initiative and the renovation programs for low-income households for two years. Today's announcement includes a further combined investment of $29 million by both levels of government for the two-year extensions to build new affordable housing and assist low-income households with needed renovations to their homes.
Overall, the federal contribution is $84 million, while the province is contributing a further $77 million for the combined investment of over $161 million.
In addition to this funding commitment, a new 55-unit affordable housing project for low and moderate-income families was officially opened in Saskatoon today. This project was funded by the Government of Canada, the Province of Saskatchewan and the City of Saskatoon under the existing Affordable Housing Initiative program.
Located at Avenue L and 20th Street, the project consists of an 18-unit complex of two-and three-bedroom townhouses and a 37-unit rental apartment building. The total project cost of nearly $11.8 million was provided by the three levels of government: $5.9 million from Canada Mortgage and Housing Corporation; $4.7 million from Saskatchewan Housing Corporation; and $1.18 million from the City of Saskatoon, which also supported the project through its Enterprise Zone Initiatives.
CMHC has been Canada's national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.
To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan. For more information on Canada's Economic Action Plan, call 1-800-O Canada.
For more information, contact: