New funding for affordable housing announced
On May 25, 2012, the Canada Mortgage and Housing Corporation (CMHC) announced funding for new affordable housing units in Ontario. The units are intended for seniors, individuals with disabilities, and low-income families.
The funding will create 3,205 new jobs and 1,282 new housing units. The total projected cost is $144.93 million, which will come from funding provided jointly by the federal and provincial governments through the “Canada-Ontario Affordable Housing Program Agreement.”
For the 2011-2012 year, the Government of Canada will make a $600 million investment for affordable housing in Ontario. This funding will provide support for 237,750 households in Ontario this year.
The Government of Ontario makes an annual $430 million investment in affordable housing and homelessness programs under “Ontario’s Long-Term Affordable Housing Strategy.”
For more information, visit www.news.ontario.ca/mah.
For “Ontario’s Long-Term Affordable Housing Strategy”, visit www.mah.gov.on.ca.