Privacy  
CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

July 2006 National News Archive

 

Related Links:
National Archive
2006 Archive
January 2006
February 2006
March 2006
April 2006
May 2006
June 2006
July 2006
August 2006
September 2006
October 2006
November 2006
December 2006


CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

Eight New Affordable Housing Units for Rogersville

ROGERSVILLE, New Brunswick, July 14, 2006 — Residents of Rogersville with special needs now have more access to affordable housing units with the official opening of Services Communautaires de l'ARC. The eight-unit apartment building received $600,000 under the Canada – New Brunswick Affordable Housing Agreement.

The announcement was made by the Honourable Greg Thompson, Minister of Veterans Affairs and Regional Minister for New Brunswick, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development, along with the Honourable Bernard Lord, Premier of New Brunswick.

"Canada's new Government is proud to be working with the province of New Brunswick and the non-profit sector to build safe, quality, affordable housing that meets the needs of people living in Rogersville," said Minister Thompson.

The project will receive $280,000 in federal funding to offset the construction costs totalling $421,441, as well as $320,000 in rent supplements from the Province of New Brunswick for all of the eight units.

"Housing is an important factor in the quality of life of individuals," said Premier Lord. "This project shows the advantage of creating partnerships with non-profit organizations to help meet the need for affordable housing in New Brunswick communities."

The apartment building was developed by Services Communautaires de l'ARC Inc, a non-profit organization which owns and manages a residence serving mentally challenged individuals. The new units, which are attached to a special care home, will allow l'ARC to expand their services for persons with special needs.

The Canada – New Brunswick Affordable Housing Agreement involves investments of over $45 million for the creation of affordable housing units in New Brunswick.

Media Inquiries:

Robert Duguay
Communications
Family and Community Services
506-444-3684

Emely Poitras-Benedict
Marketing and Communications Principal
Canada Mortgage and Housing Corporation
902-426-8127

Backgrounder

Canada – New Brunswick Affordable Housing Agreement

Phase I

Objectives:

  • To create and sustain rental housing for low- to moderate-income New Brunswick households through new construction or rehabilitation.
  • Housing must be affordable for at least 10 years.

Program:

  • Funding under this agreement will be used for a Rental Housing Program.
  • The program will create and sustain in excess of 600 units of rental housing for low- to moderate-income households.
  • Funding is available to private non-profits, cooperatives, community or private developers interested in developing projects for low- to moderate-income families, seniors, non-elderly singles, disabled persons and persons with special needs.

Administration:

  • The program will be administered by the New Brunswick Department of Family and Community Services.
  • Family and Community Services is responsible for the selection of affordable housing projects.

Financial Provisions:

  • Maximum CMHC funding under the agreement is $14.98 million to be matched by the Province of New Brunswick for a total of $29.96 million.
  • Overall average CMHC funding will not exceed $25,000 per unit.
  • Province of New Brunswick will provide rent supplements for low- to moderate-income households who occupy their housing.

Phase II

Phase II of the Agreement increases the total investment under the Canada – New Brunswick Affordable Housing Program Agreement by $15.14 million in funding. The Government of New Brunswick will contribute at least 50 per cent of the matching funding; up to 10 per cent may come from municipalities and other third parties.

Under Phase II, funding will be:

  • used for the Rental Housing Program in Phase I plus a new rent supplement program;
  • targeted to urban areas with considerable housing needs; and
  • targeted to persons on or eligible to be on a waiting list for social housing.

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page