Posts Tagged ‘Infrastructure’

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Canada’s Economic Action Plan Delivers Housing-Related Infrastructure Loan for North Battleford

Comments: 0April 7th, 2010 by admin

Posted by Moishe Alexander

The Government of Canada announced today that the City of North Battleford has been approved for an infrastructure loan as part of Canada’s Economic Action Plan. The announcement was made by the Agriculture Minister Gerry Ritz and Member of Parliament (Battlefords – Lloydminster) on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Ritz. “This program is opening the door for municipalities to meet their housing-related infrastructure needs. Canada’s Economic Action Plan will continue to create jobs, stimulate communities in all corners of the country, and support Canadian workers and families.”

North Battleford has been approved for $2.5 million in a low-cost loan from CMHC’s Municipal Infrastructure Lending Program (MILP), to increase the water treatment capacity at the groundwater supply water treatment plant #1. The expansion will better utilize the existing groundwater supply facilities, will improve the availability of treated water storage and will reduce produced water loss for residents of North Battleford.

“The $2.5 million CMHC Municipal Infrastructure loan will help our city meet an increasing demand for water in North Battleford,” said North Battleford Mayor Ian Hamilton. “Site preparation for the expansion of Water Treatment Plant No.1 is now underway and the entire project will be complete by March 2011.”

Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects through the MILP. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting and green space.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

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Posted in CMHC, Ontario, moishe alexander

Vancouver and Abbotsford CMAs

Comments: 0January 4th, 2010 by admin

Posted by Moshe Alexander

Renters had an easier time finding rental accommodation in Vancouver this fall, compared to last year. Higher rental apartment vacancy rates have meant that renters have more choice. Although higher than last year, Vancouver’s vacancy rate is still below the national average and among the lowest in the country.

A slowdown in employment sent Vancouver’s rental apartment vacancy rate higher in 2009. The vacancy rate increased to 2.1 per cent, after sitting below one per cent for three consecutive years. Unemployment in the Vancouver Census Metropolitan Area (CMA) for the first ten months of 2009 increased to seven per cent from 4.3 per cent for the same period last year. Although employment has been gradually improving since the spring of this year, it has only been in the last couple months that full-time employment has grown.

A shift to homeownership also contributed to higher rental vacancy rates in 2009. A combination of low mortgage rates and home prices off their peak value has meant that monthly mortgage payments are lower. As of September 2009, the average monthly mortgage payment for an apartment condominium was approximately ten per cent less than it was one year ago3. Although the average mortgage payment is still higher than the average monthly rental payment, some renters have chosen to take this opportunity to enter homeownership.
Virtually all communities in the Metro Vancouver area saw an increase in vacancies in 2009. The only exception to this was the University Endowment Lands (UEL). The vacancy rate in the UEL, along with several areas of Vancouver City and North Vancouver, remained tight, below one per cent in October 2009.Vancouver City, with its educational infrastructure and job opportunities in the business centre, and the lifestyle communities of West Vancouver and White Rock recorded vacancy rates just over one per cent.Vacancies increased in all other municipalities, with suburban communities north of the Fraser River near three per cent, and communities south of the Fraser, in the 4-6 per cent range.

The rental availability rate4 for private rental apartments moved higher in 2009. The availability rate increased to 2.8 per cent in October 2009, from 1.1 per cent a year earlier. The vacancy rate for investor-owned rental condominiums increased in 2009, but to a lesser extent than that for purpose-built rental units. The rental condominium vacancy rate moved up to 1.7 per cent from 0.6 per cent last fall. The stock of rental condominiums is generally newer and features more amenities than their purpose-built rental counterparts. These benefits shore up demand for rental condominiums.

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Posted in CMHC, Canada, affordable housing

Governments of Canada and Ontario Celebrate New Affordable Housing in Orillia, Ontario

Comments: 0January 4th, 2010 by admin

Posted by Moishe Alexander

Funding of $9.2 million for 77 new affordable housing rental units for seniors, persons with disabilities, and low income households was announced today in Orillia.

Bruce Stanton, Member of Parliament for Simcoe North, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Aileen Carroll, Ontario Minister of Culture, Minister Responsible for Seniors and Member of Provincial Parliament for Barrie, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing; along with Cal Patterson, Warden of Simcoe County, and Ron Stevens, Mayor of the City of Orillia, made the announcement.

“The Government of Canada is helping make affordable housing available in Ontario and across Canada for those who need it most,” said MP Stanton. “Here in Orillia, this initiative will help many people in our community, while creating jobs and stimulating our economy. This investment is possible through Canada’s Economic Action Plan, our government’s plan to stimulate the economy and create jobs during the global recession. For Ontario, this includes a $1.2 billion joint investment.”

“New housing initiatives add significant support to the McGuinty government’s Poverty Reduction Strategy,” said Minister Carroll. “We will continue to work with our municipal partners to ensure more units are built during the life of this program.”

“The County of Simcoe is committed to providing a wide range of affordable housing options for residents in our 16 member municipalities and the cities of Barrie and Orillia,” stated County Warden Cal Patterson. “These new affordable housing units will support seniors in Orillia, allowing many to remain in their home community as they age. This project is another outstanding example of the great things that happen when we work in partnership with other levels of government and with our community.”

“We are extremely pleased to be awarded another 77 affordable housing units through the federal and provincial governments’ funding opportunities,” added Mayor Stevens. “As of today, non-profit organizations and private developers in the City of Orillia have completed 92 affordable and accessible housing units. With this new 77-unit project at 85 Barrie Road, we will have added a total of 169 units for low income families, seniors and the disabled since 2006.”

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada’s Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless.

Today’s announcement celebrates the funding for 77 new affordable rental units at 85 Barrie Road in Orillia. The project is sponsored by developer Moe Zadeh of Serenity Residentials Inc.

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Posted in CMHC, Canada, affordable housing

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