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New Affordable Housing Units for Jacksonville

JACKSONVILLE, New Brunswick, July 12, 2006 — Residents of Jacksonville will have more access to affordable housing with the construction of a new affordable housing complex on 43 Sewell Road in Jacksonville.

The Darrell Sewell project received $650,000 in funding under the
Canada – New Brunswick Affordable Housing Agreement.

Mike Allen, Member of Parliament for Tobique – Mactaquac, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development, along with the Honourable Bernard Lord, Premier of New Brunswick, made the announcement.

"Our investment in this project demonstrates the commitment of Canada's new Government to provide affordable housing to New Brunswickers who may be struggling financially," said Mr. Allen.

"This project shows the advantage of how partnerships between governments and the private sector help meet the need for affordable housing in New Brunswick," said Premier Lord.

The 20-unit project, which includes 10 affordable housing units, was developed by Darrell Sewell and received $250,000 in federal funding to offset the construction costs totaling $1,303,242, as well as $400,000 in rent supplements from the Province of New Brunswick.

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

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Backgrounder

Canada – New Brunswick Affordable Housing Agreement

Phase I

Objectives:

Program

Funding under this agreement will be used for a Rental Housing Program:

Administration:

Financial Provisions:

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: