www.canequity.com - Edmonton Receives Government Funding for Four New Affordable Housing Projects

Edmonton Receives Government Funding for Four New Affordable Housing Projects

EDMONTON, Alberta, January 8, 2004 — Approximately $3.1 million will be allocated under the Canada-Alberta Affordable Housing Program Agreement to facilitate the development of four projects that will create 62 affordable housing units in Edmonton for low-income families, couples, and seniors. The announcement was made today by the Honourable Anne McLellan, Deputy Prime Minister and Minister of Public Safety, on behalf of the Honourable Andy Scott, Minister of State (Infrastructure) and Minister responsible for Canada Mortgage and Housing Corporation and the Honourable Stan Woloshyn, Minister of Alberta Seniors with responsibility for housing.

"The Government of Canada is pleased to be working with partners to provide more affordable housing, particularly for low-income Canadians," said Deputy Prime Minister McLellan. "These projects will help respond to the need for affordable housing in Edmonton and build on the four projects already announced in this community under the Affordable Housing Program Agreement."

"I am pleased that so many partners have come together to enhance access to affordable, safe accommodation for low-income Edmontonians," said Minister Woloshyn. "Through these affordable housing partnerships, we will not only reduce waiting lists for community housing, but we are also helping clients living in homeless shelters make the transition to longer-term, affordable accommodation."

The Pino Brothers Affordable Housing Ltd. will receive $1 million under the Affordable Housing Program towards the development of an additional 20-units to their existing affordable housing project for low-income single parents and childless couples.

The Sundance Housing Co-operative Ltd. will receive $600,000 under the Affordable Housing Program Agreement and contribute $120,000 themselves towards the development of a 12-unit building that will house low and moderate-income individuals.

The Edmonton City Centre Church Corporation will receive $1.5 million for the development of a 12-unit and an 18-unit complex for individuals on fixed or low-incomes and the working poor. In addition, the City of Edmonton will contribute approximately $315,000 through the Low-Income Housing Capital Assistance Program and the Edmonton Housing Trust Fund will contribute approximately $132,000 towards the projects. Total cost of these projects is $2.1 million.

The Canada-Alberta Affordable Housing Program Agreement was signed in June 2002 between the Government of Canada and the Province of Alberta. It provides for a $67.12 million federal contribution to be matched by the province and others to help increase the supply of low-cost housing in high growth, high need communities.

Since March of 2003, the Government of Canada and the Province of Alberta have allocated over $9.8 million towards the creation of eight projects and construction of 224 affordable housing units in the City of Edmonton.

Overall, since the signing of the agreement, approximately $40.2 million has been allocated in Alberta towards the development of 1,005 units in Calgary, Edmonton, Fort McMurray, Red Deer, Grande Prairie, Lethbridge, Cochrane, and Brooks, as well as in the northern remote communities of Conklin and Janvier.

Funding under the Canada-Alberta Affordable Housing Program Agreement is provided in the form of capital grants and is provided on a project-by-project basis. For more details, visit the Alberta Seniors Web site at www.seniors.gov.ab.ca.

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