Affordable housing program announced for B.C.

VICTORIA – The governments of Canada and British Columbia announced the Federal-Provincial Housing (FPH) initiative, a program that is assisting vulnerable British Columbia families and individuals in need, including people at risk of homelessness.

“Our Government is helping to make affordable housing available in British Columbia and across the country for those who need it the most,” said the Honourable Alice Wong, Minister of State (Seniors) and Member of Parliament for Richmond, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “Knowing that each community is unique, this new initiative promotes local solutions for housing challenges, while at the same time creating jobs and strengthening our overall economy.”

“The B.C. government believes in strong partnerships and with shared funding from the federal and provincial governments, as well as local governments and community organizations, we’re increasing the number of housing options available to people most at risk across the province,” said Rich Coleman, Minister Responsible for Housing. “The funding made available through this program is already contributing to affordable and supportive housing solutions to help those in need.”

The federal and provincial governments are contributing a combined total of approximately $155 million for affordable housing in British Columbia. Municipalities and community partners are contributing over $45 million to the FPH developments through a combination of property tax exemptions, waived developmental cost charges, land equity and/or capital cost contributions.

The Federal-Provincial Housing initiative is a component of the $180-million Investment in Affordable Housing 2011-2014 Agreement between the governments of Canada and British Columbia, which was announced in July 2011. With matching contributions of $90 million from both levels of government, this total combined investment helps to support affordable housing programs for B.C. residents.

The Government of Canada, through CMHC, will invest approximately $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In British Columbia, this represents some 68,650 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

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-schl.gc.ca  

Since 2001, the government of B.C. has invested $3.2 billion to provide affordable housing for low-income individuals, seniors and families. This year, more than 97,000 B.C. households will benefit from provincial social housing programs and services. To find out more, visit: www.bchousing.org  

Under BC’s Family Agenda, government is committed to improving housing for low-income families, seniors, and people experiencing homelessness. To learn more, visit www.familiesfirstbc.ca  


A backgrounder follows.

BACKGROUNDER

Federal-Provincial Housing initiative in B.C.

The Federal-Provincial Housing (FPH) initiative is the largest funding component of the $180 million Investment in Affordable Housing agreement announced in July 2011.

Other funding components under the Investment in Affordable Housing agreement announced to date:

Media Contact:
Fergus McCann
BC Housing
778 452-6445