Moishe Alexander presents to Housing Affordability readers: The Government of Canada, the Government of Ontario, and the City of St. Thomas celebrated the official opening of 12 affordable rental units. The two six-unit affordable housing projects are supported by $924,000 in funding through the Canada – Ontario Affordable Housing Program.
Joe Preston, Member of Parliament for Elgin – Middlesex – London, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Steve Peters, Member of Provincial Parliament for Elgin – Middlesex – London, along with Acting Mayor Tom Johnston, on behalf of St. Thomas Mayor Cliff Barwick made the announcement.
“Locally, this achievement gives a hand-up to individuals and families who need safe, affordable housing that meets their needs,” said MP Preston. “Our government is investing in this project to get the economy moving, creating immediate jobs and economic stimulus for the community.”
“These new homes are changing the lives of dozen families in St. Thomas,” said MPP Peters. “By building more affordable rental units, we are ensuring people in need have a safe place to call their own.”
“There continues to be a great demand for affordable housing in our community. With the co-operation of the Federal and Provincial governments we can see these needs being met,” said Mayor Cliff Barwick. “These buildings are assets for our community, and we appreciate the investment by Walter Ostojic and Sons and Collier Homes Inc., in developing additional housing units.”
Today’s grand opening ceremonies recognized two affordable housing projects funded through the two-year extension of the Canada – Ontario Affordable Housing Program:
* Funding of $444,000 for a six-unit affordable housing project for low-income households at 5 Park Avenue.
* Funding of $480,000 for a six-unit affordable housing project for low-income households at 89½ Fairview Avenue.
The federal and provincial funding for both projects is complemented by more than $179,000 in municipal financial incentives.
The Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.
In 2008, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and up to another $2 billion in loans municipalities for housing-related infrastructure. Combined for Ontario, this means a further $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.