Cmhc Bc Bilateral Agreement
The province of B.C. and the Canadian government each contributed US$88.7 million over four years from April 1, 2002 to March 31, 2006. With funding from this agreement, approximately 3,900 units have been created by the Provincial Housing Program, the BC Independent Living Program and the Community Partnership Initiatives Program. The approach also includes direct support to tenants and housing providers to reduce the pressure on accessibility. This is based on support for old-world construction contracts signed with housing providers, particularly between the 1950s and the early 1990s, and includes new financing. Under the Federal and Canadian Housing Initiatives, community housing initiatives are available to providers whose old contracts expire to ensure they have the help they need to continue to provide public housing to Canadians. The new bilateral agreements signed with the provinces and territories are presented below. These agreements are consistent with the new vision of housing under the National Housing Strategy, and are more flexible and consistent with the expected results. The Federal Community Housing Initiative Phase 2 (FCHI-2) is a new housing assistance program scheduled to begin April 1, 2020 for co-locations with government-managed agreements in British Columbia, Alberta, Ontario, Quebec and the IEP, which are coming to the end of their business agreements. Housing co-operatives offer rental subsidies to ensure housing stability for low-income households. You can see all provincial and territorial bilateral agreements on the CMHC/National Housing Strategy website.
The BC government`s $990 million bilateral agreement reflected the priorities of its 30-point plan for affordable housing, including stabilizing the market through the taxation of speculators, cracking down on tax evasion and closing loopholes, partnering with indigenous groups to build supportive housing and strengthening tenant protection. Saskatchewan`s agreement includes the maintenance of urban social housing by the Municipal Housing Initiative, sets the basic figures for existing social housing, and sets out a framework for its three-year action plan (which will begin as Nova Scotia in 2019).