Canadian Mortgage News

January 2004 National News Archive

Niagara Region Receives $4 Million for Affordable Housing

NIAGARA, Ontario, February 26, 2004 — Up to 150 units of affordable housing for low-income people in the Region of Niagara will be funded by a $4 million allocation under the Canada/Ontario Affordable Housing Program.

The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Kim Craitor, MPP Niagara Falls, as part of $56 million allocated today to communities across Ontario.

"Today's investment in Niagara Region will make a difference in the lives of those Canadians who need it most," said Minister Volpe. "The Government of Canada is committed to continue working in partnership with provincial, territorial and local governments to provide affordable housing for communities here in Ontario and across the country."

"The affordable housing program is an important part of the provincial government's efforts to strengthen the communities in which we live, and provide our people with a quality of life that is second to none," said Mr. Craitor.

"Today's announcement is tremendous news for Niagara," said Peter Partington, Chairman of the Regional Municipality of Niagara. "This is an excellent example of three levels of government working with the community to find solutions. Our program "Opening Doors Together" is already seeing interest from the community to make this work."

As a next step, municipalities participating in the program will sign agreements with the province, and will use a competitive process for project proposals. Units built under the program must be modest in size, with rents that remain affordable for a minimum period of 15 years. Private-sector companies, and non-profit, service club, religious and charitable organizations are eligible for the program.

The allocation is part of a five-year commitment that will create affordable housing units in Ontario. This partnership combines Government of Canada funding of $245 million with matching contributions of the Government of Ontario, municipalities and other private and non-profit partners.

For further information please contact:

Mary Johnson
Office of Minister of State Scott
(613) 952-1684

Ross Parry
Office of Minister Caplan
(416) 325-1657

Lora Beckwith
Niagara Regional Housing
(905) 682-9201 ext. 340

For more information visit:
www.mah.gov.on.ca

News source: Canada Mortgage and Housing Corporation (CMHC)