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.