Y Media- The biggest South Asian Media House|Monday, October 15, 2018
You are here: Home » Community » MP Sonia Sidhu Delivers Message Announcing $500 Million Investment for New Federal Community Housing Initiative
  • Follow Us!

MP Sonia Sidhu Delivers Message Announcing $500 Million Investment for New Federal Community Housing Initiative 

Brampton, ON – Sonia Sidhu, Member of Parliament for Brampton South, delivered a
message to her constituents that announced the government’s plan to invest $500
million over 10 years for a new Federal Community Housing Initiative.
Federal community housing, such as co-op housing, offers an affordable option for
many Canadians and has been the backbone of Canada’s response to housing
challenges for more than 60 years. In communities all across Canada, thousands of
families rely on federally administered community housing as a place to call home.
“Affordable housing has been top of mind for many in Brampton and our government is
taking action to work hand in hand with Canadians on this issue” said MP Sidhu. “We
are now one step closer to fulfill. This new investment will protect affordability for
tenants and stabilize operations for 55,000 federally administered community housing
and co-operative project”.
Phase I will be implemented from April 1, 2018 to March 31, 2020. Under Phase I,
federally administered housing providers with long-term operating agreements that have
ended or that are coming to an end between April 1, 2016 and February 28, 2020, will
continue to receive the same level of subsidy currently provided under existing
agreements until March 31, 2020. The objective of the subsidy extension (Phase 1) is to
maintain low-income households, protect affordability of the federally administered
community housing stock, stabilize operations of housing providers and ensure no net
loss of the federally administered community housing stock.
The National Housing Strategy is the Federal Government’s strategy to help more
Canadians access housing that meets their needs and they can afford and sets out to
achieve bold outcomes over the next 10 years, including reducing chronic
homelessness by 50%, removing more than 530,000 households from housing need,
and creating 100,000 new housing units, and repairing and renewing more than
300,000 housing units.

 

Related posts: