OWEN SOUND, ONTARIO, Mar. 12, 2010 (Marketwire) -- The Government of Canada announced today that one housing co-operative located in Owen Sound will receive more than $384,000 through Canada's Economic Action Plan, as part of the social housing renovation and retrofit investments.
The announcement was made at the Ainslie Wood Housing Co-operative by Larry Miller, Member of Parliament for Bruce-Grey-Owen Sound, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).
"Through Canada's Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth," said MP Miller. "Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create jobs."
The Government of Canada, through Canada's Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.
The housing co-operative that will receive a contribution from the Government of Canada being announced today is Ainslie Wood Housing Co-operative.
"We congratulate and thank the federal government, Mr. Miller and CMHC for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents," said Ken Elliott, President of the Co-operative Housing Federation of Canada." Today's announcement is an excellent example of stimulus funding that works towards helping to preserve jobs, assisting the local economy and protecting a valuable source of affordable housing for Canadians."
"We are delighted that our co-operative will benefit from the federal government's renovation and retrofit initiative delivered by CMHC ", said Donna Smith, President of Ainslie Wood Housing Co-operative. "Not only will this funding make our co-op more energy efficient, but it will also help ensure these homes are available to meet the needs of future generations".
More information on this and other measures in Canada's Economic Action Plan, the federal government's plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: ww.actionplan.gc.ca.
To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.
