Canadian Mortgage News

January 2005 National News Archive

Funding Allocated for London Area Projects

LONDON, Ontario, September 30, 2005 — More than $250,000 in funding has been allocated in the City of London for four housing projects. The federal government has contributed $120,000 through Canada Mortgage and Housing Corporation's (CMHC) Residential Rehabilitation Assistance Program (RRAP), while $108,500 has been provided by the City of London and $20,474 from private funding.

The Honourable Joe Fontana, Minister of Labour and Housing, made the announcement at a dedication ceremony recognizing the partnership between CMHC, the City of London, and the Old East Village Business Improvement Area (BIA). During the ceremony, Minister Fontana dedicated a park bench in Queens Park, on behalf of the Government of Canada.

"The Government of Canada, through CMHC, is committed to sustaining vital, healthy communities," said Minister Fontana. "Today's ceremony is a tribute to the importance of working with our partners to revitalize neighbourhoods and preserve affordable housing in our community and across Canada."

"The City of London is committed to working with senior levels of government to address the critical national need for more affordable housing," said London Mayor Anne Marie DeCicco. "And, each of the four housing projects supported through this funding allocation will have a positive impact on our community, as we continue to combat homelessness in our city."

"Today's dedication by Minister Fontana underscores the importance of revitalizing our neighbourhoods, working in partnership to build our communities and affordable housing," said Sarah Merritt, Manager, Old East Village BIA. "This partnership fills the gap for smaller property owners who may lack the capacity to act alone to access incentives to improve their properties."

The four projects, located in London's Old East Village, are part of a partnership arrangement between CMHC, the BIA, and the City of London Housing Division, to repair existing rental units and provide affordable housing for community residents. All are sponsored by the City of London, and part of a pilot project to provide partnership funding to properties located in the downtown core.

The City of London Housing Division and CMHC have been working with the Old East Village BIA and community residents to improve small rental properties in the Business Improvement corridor. As a result of these efforts, vacant space above storefront structures and existing rental units will be upgraded to provide affordable housing.

CMHC's Residential Rehabilitation Assistance Program (RRAP) helps low-income households and landlords make necessary repairs to bring their properties up to minimum health and safety standards.

CMHC is Canada's national housing agency with a mandate to help Canadians gain access to safe, quality and affordable housing. CMHC supports the Canadian housing industry and improves the living conditions of Canadians through mortgage loan insurance and securitization, assisted housing, research and information transfer and the promotion of Canadian housing exports.

For further information, please contact:

Beth Bailey
Communications Consultant
Canada Mortgage and Housing
Corporation
(416) 218-3355

Peter Graham
Office of Minister Fontana
(819) 953-5646

News source: Canada Mortgage and Housing Corporation (CMHC)