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

Canadian Mortgage News

February 2009 National News Archive

 

Related Links:
National Archive
2009 Archive
January 2009
February 2009
March 2009
April 2009
May 2009
June 2009
July 2009
August 2009
September 2009
October 2009
November 2009
December 2009


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

County of Oxford Gets $1.5 Million Boost for Affordable Housing

COUNTY OF OXFORD, Ontario, February 10, 2009 — The Government of Canada, the Government of Ontario, and the County of Oxford today announced more than $1.5 million in funding for affordable housing. The funding will help create 15 new affordable rental units in Tillsonburg and provide down payment assistance to 63 households in the County of Oxford.

The announcement was made by Dave MacKenzie, Member of Parliament for Oxford, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); John Wilkinson, MPP for Perth – Wellington and Minister of Research and Innovation, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing; and County of Oxford Warden Paul Holbrough.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said MP MacKenzie. “Through this investment, we are making an important difference in the lives of low-income renters, low-income seniors and individuals with physical disabilities in the County of Oxford who are working towards build a stronger and better future for themselves.”

“Access to safe and affordable housing is crucial to the economic and social well-being of Ontario’s communities,” said Minister Wilkinson. “The McGuinty government continues to work with our housing partners to grow the supply of affordable housing in the County of Oxford and across the province.”

The $1.55 million allocation includes:

  • $1.05 million for a 15-unit project in Tillsonburg. The project is sponsored by the E & E McLaughlin Ltd. in Trust, and the units will be occupied by low-income seniors and individuals with physical disabilities.
  • $538,670 in down-payment assistance for 63 households in the County of Oxford under the Homeownership component of the program which provides down-payment assistance for low-income renters to enter the housing market and purchase homes.

The federal and provincial allocations are complemented by more than $136,000 in municipal financial contributions.

“The development of affordable housing remains a priority for the County of Oxford,” said Warden Holbrough. “The cooperative efforts of all levels of government must continue to address this fundamental need in all communities. We look forward to continuing this work with our public, private and not for profit partners.”

The Canada – Ontario Affordable Housing Program 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 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down-payment assistance loans.

Media Inquiries:

Michelle Bakos
Office of Minister Finley
819-994-2482

Nicole Burgers
Canada Mortgage and Housing Corporation
416-250-2760

Adam Grachnik
Office of Minister Watson
416-585-6492

Paul Beaton
County of Oxford
519-539-9800 ext. 3301

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page