Supporting Accessible Affordable Housing: Governments of Canada and Newfoundland and Labrador Sign $68 million Investment in Affordable Housing Agreement

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Nov. 28, 2014) - The Governments of Canada and Newfoundland and Labrador announced a combined investment of more than $68 million over five years to help more individuals and families access affordable housing and renovate their existing homes. The funding will be delivered through an extension to the Investment in Affordable Housing (IAH) agreement, administered in this province through Newfoundland and Labrador Housing Corporation (NLHC). "Our Government has made historic investments in housing to create better economic outcomes for the Canadian families," said the Honourable Candice Bergen, Minister of State (Social Development). "The Province of Newfoundland and Labrador will be able to direct this new funding into housing solutions that best meet their local needs and priorities."

Under the IAH, the Government of Newfoundland and Labrador can design and deliver a range of affordable housing programs to address local housing needs and priorities. This agreement will enable NLHC to continue partnering with affordable housing developers in the private and non-profit supportive living sectors by investing $27 million to construct approximately 590 new affordable housing units province-wide. This will bring the total number of new affordable homes created under the IAH program to 1,700 by the end of this agreement in 2019. The remaining $41 million will be invested in the Provincial Home Repair Program. Administered and delivered by Newfoundland and Labrador Housing Corporation, this program provides financial assistance for renovations and repairs for low-income households thereby enabling them to remain in their homes longer.

"Providing affordable housing is a challenge that all governments face and it is important that we work together to identify solutions," said the Honourable Clyde Jackman, Minister of Seniors, Wellness and Social Development, Minister Responsible for the Status of Persons with Disabilities, and Minister Responsible for NLHC. "This unprecedented five-year Investment in Affordable Housing will significantly improve our ability to offer more affordable rental housing options and enhance our Provincial Home Repair Program for those most in need."

A key objective for the provincial government is to stimulate the development of affordable rental housing by the private, public and non-profit sectors. Priority is placed on developing rental housing for persons with complex needs, persons with disabilities, seniors and people who require support to live independently in the community.

"I'm pleased that our Government continues to invest in housing to improve the lives of Canadians, especially here in Newfoundland and Labrador," said the Honourable Rob Moore, Regional Minister for Newfoundland and Labrador and Minister of State (Atlantic Canada Opportunities Agency). "This investment will ensure that people in this province continue to have access to safe and affordable housing."

On August 16, 2011, the Governments of Canada and Newfoundland and Labrador announced an IAH agreement with a combined investment of some $41 million for the 2011-2014 period. This new agreement extends the original agreement for the 2014-2019 period with an additional combined investment of more than $68 million. From April 2011 to September 2014, the IAH has already helped close to 213,000 households nationally, including almost 6,400 in Newfoundland and Labrador.

"The Provincial Government through Newfoundland and Labrador Housing Corporation invests significantly in social housing," said the Honourable Keith Hutchings, Minister of Municipal and Intergovernmental Affairs. "This agreement will provide more affordable homes for seniors and others in housing need and enable more individuals and families to repair their own homes and continue to live in their own communities."

Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), will invest approximately $2 billion in housing. These investments improve the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continued this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour.

Link to Story