Funding for National Housing Strategy

Federal, provincial and territorial Ministers responsible for housing have agreed to match approximately $7.7 Billion in planned federal spending for implementation of the National Housing Strategy (NHS) through to 2028.

An agreement was reached on April 9 that establishes a framework for how money will be allocated to repairs and construction of affordable housing units. Provinces will subsequently need to sign bilateral funding agreements with the Federal Government to receive funding that will ultimately flow to intended recipients including local governments.  Quebec is the only jurisdiction that has not signed onto the agreement.

While further negotiations on bilateral agreements are required, the sudden announcement moves towards addressing a major critique of the NHS, the reliance on matching funding.

Minister of Families, Children and Social Development and Minister responsible for the Canada Mortgage and Housing Corporation, Jean-Yves Duclos, has also announced that the Government will be unveiling details about the $15.9 billion National Housing Co-Investment Fund in coming weeks. This program is designed to support repairs of existing affordable housing units and construction of new units through partnerships with and investments from the provinces and territories, municipalities, non-profits and co-operatives, and the private sector.

UBCM will continue to monitor the implementation of the strategy.

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