ST. JOHN'S, NL, Aug. 13, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. That is why the Government of Canada partnered with the Government of Newfoundland and Labrador to provide additional support to thousands of low-income households across the province.
Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), the Honourable Seamus O'Regan Minister of Natural Resources and Member of Parliament for St. John's South-Mount Pearl, and the Honourable John Abbott, Minister Responsible for the Newfoundland and Labrador Housing Corporation, announced an 8-year, $74.4 million investment in the Canada – Newfoundland and Labrador Housing Benefit (CA-NL HB) to support over 2,600 households across the province.
The Canada Housing Benefit is a National Housing Strategy program funded by the Government of Canada and cost-matched by Newfoundland and Labrador.
In addition, the CA-NL HB is intended to address rental instability among certain target groups such as women and children experiencing or at risk of domestic violence, seniors, Indigenous peoples, peoples with disabilities, those dealing with mental health and addiction issues, homeless individuals and those at risk of homelessness, racialized communities, veterans, young adults, among others.
"Our Government is committed to ensuring that every Canadian has a safe and affordable place to call home and we recognize the long-standing need for predictable funding for housing. Today, we are taking another significant step toward our goal of building strong communities where the people of Newfoundland and Labrador continue to prosper and thrive, now and for generations to come." – The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC)
"Everyone deserves a safe place to call home. This $74.4 million dollar investment will provide housing stability, combat homelessness and support those who need it most. This will improve the quality of life for people in our Province and give everyone an equal chance at success." – The Honourable Seamus O'Regan Minister of Natural Resources, Member of Parliament for St. John's South-Mount Pearl
"Through this partnership, which comes into effect in September 2021, we will provide access to safe, adequate, and affordable housing to over 2,600 low-income households over the next seven years. Working together with our federal partners, these investments will help to provide housing for many individuals and families – a place to call home – which is essential to their social, financial and physical well-being. Together we are making a real difference in lives of Newfoundlanders and Labradorians." – The Honourable John Abbott, Minister Responsible for the Newfoundland and Labrador Housing Corporation
The Government of Canada will invest $2 billion in the Canada Housing Benefit across the country, which will be cost-matched by provinces and territories for a total $4-billion investment over 8 years, starting in spring 2020. The Canada Housing Benefit is expected to provide affordability assistance to approximately 300,000 Canadian households in need.
The total combined funding (CMHC funding and cost-matching) under the bilateral agreement with Newfoundland and Labrador, which includes the Canada Housing Benefit, is more than $345 million.
The National Housing Strategy (NHS) is the Government of Canada's 10-year, $72+ billion plan that will give more Canadians a place to call home.
As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, visit www.placetocallhome.ca.
SOURCE Canada Mortgage and Housing Corporation
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