Canadian Mortgage News

January 2003 National News Archive

CMHC's Seed Funding Expands Opportunities for Housing [Halifax]

HALIFAX, Nova Scotia, May 1, 2003 — Community groups and others looking for funding to help flesh out a proposal for a housing project can now access a new Seed Funding initiative announced by the national housing agency, Canada Mortgage and Housing Corporation (CMHC).

CMHC today announced a call for proposals from interested groups or individuals planning to develop a housing project that is innovative or community-based or affordable or any combination of these three characteristics. Successful applicants will be able to access a maximum of $20,000 in Seed Funding. This includes a grant of up to $10,000 in combination with a repayable interest-free loan of up to $10,000. Interested applicants will have until July 2, 2003 to submit an application for funding.

These funds help pay for activities in the early stages of housing project development including a community needs analysis and a preliminary feasibility study. Seed Funding, will be complemented by training for those housing proponents who need it, covering topics such as group organization, housing project development and housing project management. CMHC will cover the training costs for recipients of Seed Funding.

CMHC is looking to support the creation of projects similar to the Crew Lodge project in downtown St. John's, Newfoundland and Labrador that has already received support from CMHC's Canadian Centre for Public-Private Partnerships in Housing (CCPPPH). Crew Lodge is now successfully meeting the housing needs of low income single persons, and is one of many such projects from coast to coast to coast in Canada that can link their development to CMHC's efforts to facilitate the production of affordable housing.

"Seed Funding is part of a package of new options that will enable non-profit or private sector housing proponents to develop their housing project proposals", said Carla Staresina, Partnership Representative of CMHC's Business Centre in Halifax. "The more affordable the housing, the wider the range of tools and services available."

Applications for Seed Funding are being accepted by CMHC starting Thursday, May 1, 2003 but must be received at CMHC's Business Centre in Halifax no later than 4:00 p.m., Wednesday, July 2, 2003. For more information, please contact Carla Staresina at tel.: (902) 426-8430, fax: (902) 426-9991, e-mail: cstaresi@cmhc-schl.gc.ca.

CMHC, through its CCPPPH, has been promoting the development of affordable housing through partnerships since 1991. Over the past 12 years, the Centre has facilitated almost 500 projects with more than 25,000 housing units across Canada.

For more information:

Carla Staresina
CMHC
(902) 426-8430

News source: Canada Mortgage and Housing Corporation (CMHC)