Canadian Mortgage News

January 2007 National News Archive

Canada and Quebec Sign a Two-Year, $58 Million Agreement

Residential Renovation and Adaptation in Quebec

MONTRÉAL, Quebec, August 21, 2007 — The Honourable Michael Fortier, Minister of Public Works and Government Services, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development, and Minister responsible for Canada Mortgage and Housing Corporation, and Nathalie Normandeau, Deputy Premier and Minister of Municipal Affairs and Regions, today announced an agreement between Canada Mortgage and Housing Corporation (CMHC) and the Société d’habitation du Québec (SHQ) that provides for the cost-sharing of residential renovation and adaptation programs. The agreement includes almost $58 million in new funding from Canada’s New Government over two years, until March 31, 2009.

“Canada’s New Government recognizes that it is important to address the need for residential renovation in Quebec,“ said Minister Fortier. “Our government is proud that we have reached an agreement with the Province of Quebec that will work towards building a better and stronger future by providing much needed renovation funding to improve the housing conditions of lower-income households.”

“In an environment where every effort is being made to increase the supply of affordable housing, it is important to maintain and improve the quality of existing dwellings. The signing of this agreement, as part of our ongoing partnership with CMHC, is good news for all Quebec residents, especially low-income individuals with special housing needs,” said Minister Normandeau.

Under the agreement, funding for renovation programs will help low-income households, including seniors, persons with disabilities and victims of family violence.

Under the agreement, 75 per cent of funding is provided by CMHC and SHQ provides 25 per cent. This cost-sharing ratio remains the same as under previous agreements. In addition to funding under this agreement, the Province of Quebec also provides funding for other renovation and adaptations projects.

Sources:

Information: 

Jonathan Trudeau
Press Assistant
Office of the Deputy Premier
and Minister of Municipal Affairs and Regions
418-691-2050
514-873-2622

Appendix

Programs Covered By The 2007 – 2009 Cmhc-Shq
Cost-Sharing Agreement for Residential Renovation and Adaptation Programs

In co-operation with municipalities and a broad network of partners from the private and community sectors, the Société d’habitation du Québec administers the residential renovation and adaptation financial assistance programs covered by this agreement. Adapted to the specific context of each locality, the projects completed under these programs help improve the housing conditions of thousands of households living in rural communities or urban centres across Quebec. In 2006, more than 5,400 low-income households in Quebec benefited from federal funding under renovation programs that are included in this agreement. Annually, some 12,000 Quebec households benefit from financial assistance to repair, renovate or adapt their homes through the programs covered by this agreement as well as through provincial programs  for renovation and adaptations.

News source: Canada Mortgage and Housing Corporation (CMHC)