PROVINCE INVESTS $6 MILLION TO INCREASE HOUSING SUPPLY IN SASKATCHEWAN

Social Services Minister and Minister responsible for Saskatchewan Housing Corporation June Draude today announced the creation of a $6 million Summit Action Fund to help increase housing supply across the province. This investment will make it possible for stakeholders to come forward and propose creative solutions that are not currently covered by existing housing programs, facilitating innovation in the housing sector.

The announcement was made at the Building Communities, Building Saskatchewan Housing and Development Summit being held April 19-21, 2011 in Saskatoon. The summit is presented by Saskatchewan Housing Corporation in partnership with the Canadian Home Builders' Association - Saskatchewan.

"The development of the Summit Action Fund further demonstrates that our government is prepared to act on ideas that come from the Housing Summit and provide money to support them," Draude said. "This fund aligns directly with our innovation agenda and supports a secure and prosperous Saskatchewan, further promoting the Saskatchewan Advantage. Most importantly, it means that more housing will be created to meet the variety of housing needs in Saskatchewan communities."

The Summit Action Fund will provide the government, through Saskatchewan Housing Corporation (SHC), with a tool to drive creative, flexible approaches and innovation in the housing sector. The fund will:

• Enable development of housing supply to address increasing demand;
• Provide a source of additional support for creative solutions across the housing continuum, from low-income rental developments to homeownership opportunities;
• Encourage private sector investment;
• Stimulate new innovations in design, financing and partnerships; and
• Complement and not duplicate existing programs.

"This Summit underscores that the spirit of co-operation in tackling our housing challenges is intact and strong," Draude said. "We look forward to working with our partners and stakeholders to set the stage for additional actions that need to be taken to meet the demands of current and future economic and population growth."

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For more information, contact:

Linda Saliken
Social Services
Regina
Phone: 306-787-0246