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.

Funding of $6.6 million for 132 new affordable housing rental units for seniors living on low income was announced today in Thunder Bay.

The Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Bill Mauro, Member of Provincial Parliament for Thunder Bay – Atikokan, on behalf of the Honourable Jim Watson, Ontario’s Minister of Municipal Affairs and Housing; Councillor Joe Virdiramo, Secretary – Treasurer of The District of Thunder Bay Social Services Administration Board (TBDSSAB); City of Thunder Bay Councillor Brian McKinnon; along with Tracy Buckler, President & CEO of St. Joseph’s Care Group made the announcement.

“The Government of Canada is helping Canadians during these tough economic times and giving hope to seniors who need quality, affordable housing that meets their needs,” said Minister Finley. “This investment is possible through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. For Ontario, this includes a $1.2 billion joint investment.”

“Today’s announcement positions Thunder Bay as a community with the full continuum of health care for seniors,” said Bill Mauro, MPP Thunder Bay – Atikokan. “Supportive housing has long been viewed as the missing piece, and today we have addressed that component in a very big way.”

“The TBDSSAB is pleased that the vision of a Centre of Excellence for Integrated Seniors’ Services is one step closer to being realized. Through service integration and partnership, the 132 unit supportive housing project will improve the quality of services to seniors, allowing them to maintain their independence while receiving necessary supports to age in place,” said Joe Virdiramo, Secretary – Treasurer, The District of Thunder Bay Social Services Administration Board.

“Thunder Bay welcomes the Federal and Provincial support for this exciting aspect of the Centre of Excellence for Integrated Seniors’ Services,” said Mayor Lynn Peterson. “Supportive housing allows our seniors to live independently and gain better access to the health care services they need.”

“This 132-unit Supportive Housing building is a vital element to ensure the continuum of care model as envisioned during the Centre of Excellence for Integrated Seniors’ Services (CEISS) project planning. We know that seniors would prefer to live independently in an apartment setting if they are able. This project will permit more seniors to age in place while receiving the assistance they require,” said Tracy Buckler, President & CEO, St. Joseph’s Care Group and Co-Chair of the CEISS Steering Committee.

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 funding for the 132-unit Centre of Excellence for Integrated Seniors’ Services project at 300 Lillie Street North. The project is sponsored by St. Joseph’s Care Group.

The Government of Canada announced today that the County of Oxford has been approved for seven infrastructure loans as part of Canada’s Economic Action Plan.

The announcement was made by Dave Mackenzie, Member of Parliament for Oxford, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

The County of Oxford has been approved for more than $12 million in low-cost loans from CMHC’s Municipal Infrastructure Lending Program (MILP):

• The Town of Ingersoll will see $1.7 million put to work for the reconstruction of Clark Road East and Wonham Streets,
• The Township of East Zorra – Tavistock will see an investment of $3 million for wastewater servicing in Innerkip,
• The Township of Blandford – Blenheim will benefit from $3.17 million for upgrades to the Wastewater Treatment Plant/Sewage Pump station in Platsville,
• The City of Woodstock is investing $200,000 to upgrade its Thames Valley Sewage Pump Station, and
• The Township of Zorra is investing $4.3 million for the Embro Wastewater Servicing Program.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said MP Mackenzie. “This program is opening the door for municipalities of all sizes to meet their housing-related infrastructure needs and create jobs. It’s good news not only for Oxford, but also for Ontario.”

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.

“Oxford County is very happy to partner with all levels of government,” said Oxford County Warden Paul Holbrough. “Residents in Oxford will benefit for many years as a result of the funding being made available for these critical infrastructure projects”.

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.

The lives of 18 individuals changed for the better today with the official opening of the Stella Burry Community Services’ new and much-anticipated housing project in Rawlins Cross.

The Honourable Peter MacKay, Minister of National Defence and Minister for the Atlantic Gateway, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), made the announcement today.

“The Government of Canada is proud to invest in initiatives that directly help people in our community access safe and suitable housing,” said Minister MacKay. “This project will provide safe and supportive housing and help individuals build a stronger future for themselves.”

The project has received federal funding from various initiatives to off-set construction costs. Funding by the Government of Canada, through CMHC, includes $905,000 under the Canada – Newfoundland and Labrador Affordable Housing Initiative and $216,000 through the Residential Rehabilitation Assistance Program. Stella Burry Community Services also received $348,900 from the Government of Canada homelessness funding and $20,000 in Seed Funding from CMHC during the initial planning stages.

Also, the General Council of The United Church of Canada contributed $250,000 toward the completion of the project. Incorporated under The United Church of Canada, Stella Burry Community Services provides programs in the community that reflect the social justice philosophies of the United Church.

“This is such an exciting day for us,” said Jocelyn Greene, Executive Director of Stella Burry Community Services. “From the beginning, the community, the city, our staff, our board members, as well as our federal and provincial partners have all been tremendously supportive of the entire project. I know it is because people relate to the work that we, as an organization, do in this community. We all firmly believe that everyone deserves an affordable and safe place to call home; that everyone deserves opportunity and supports to be the best person that they can be. A project such as this would not be possible without that strong, unified support, for which we are incredibly grateful and blessed.”

“We are extremely proud of the work that is being carried out by Stella Burry Community Services, and are delighted to contribute to this wonderful project in St. John’s,” said Mardi Tindal, Moderator of The United Church of Canada. “The availability of affordable housing has been a persistent concern of The United Church of Canada and our record of advocacy on issues relating to housing and homelessness is well known. The leadership shown by Stella Burry Community Services to increase the availability of housing for low income individuals in the St. John’s region is to be commended as we celebrate the opening of this beautiful building today,” she added.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.

Net migration is forecast to be negative in 2009 in the Windsor CMA. More people have moved away from the area each year since 2004 than have relocated to Windsor. This is expected to continue in 2010 with a net loss of nearly 1,400 people. The first impact can be seen in the rental market as renters are more mobile than owners.

In the rental market the average apartment vacancy rate in Windsor was 14.8 per cent in October 2008 and is expected to remain high in 2009. Contributing to the high vacancy rate are several factors such as higher unemployment among youth, out-migration in search of employment, and competition from homeownership. The average two bedroom apartment rent is forecast to remain flat in October 2009, as landlords refrain from raising rents in an effort to retain existing tenants.

The Windsor-Essex area is marketing the region abroad to boomers and retirees as an exceptional place to live. Visitors and residents extol the many recreational opportunities, affordable housing and temperate climate of the area in the hopes of attracting new residents.

Employment is a key factor supporting housing demand. Windsor’s employment levels have not dropped as sharply as anticipated. The area may be able to get through 2009 with less than a five per cent decline in jobs. However, combined with losses over the past couple of years the workforce has shrunk by almost eight per cent since 2006. Continuing economic weakness in the U.S. and the appreciating value of Canadian dollar are ongoing challenges for the manufacturing and tourism sectors. In turn this has had a detrimental affect on local consumer spending.

The economy has been slow to diversify, however some inroads are appearing. Interest in alternative green energy such as wind and solar are providing new manufacturin opportunities.Non-residential construction employment will grow in 2010 due to investment in major capital projects in the area.

The funding was made available through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. 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. The federal and territorial governments are contributing equally to this overall investment of $110 million under the amended Canada – Northwest Territories Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

The renovation and energy retrofits undertaken on Northern United Place are expected to extend the life of a building that is essential to Northwest Territories residents. The project included the installation of a new boiler system, new siding, and window replacements.

The Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); and the Honourable Robert McLeod, Minister Responsible for the Northwest Territories Housing Corporation, made the announcement today.

“This renovation and retrofit project will improve the quality of life for residents by keeping their homes safe and affordable,” said Minister Finley. “It is also a good way to get the local economy moving because it puts construction workers and trades people to work quickly.”

“Northern United Place is one of the most important buildings in Yellowknife. It is more than a housing facility. It is where northerners attend Aurora College to become nurses, teachers, business people and community leaders. It also serves as a gathering place for public events, community presentations, and church services. I am pleased that our investment in the building will extend the useful life of this important community facility”, said the Honourable Robert C. McLeod, Minister Responsible for the Northwest Territories Housing Corporation.

“Through the Affordable Housing Initiative and the matching contributions of the GNWT, the Northwest Territories Housing Corporation looks forward to continuing its partnership with the Government of Canada to improve the quality of housing throughout the Northwest Territories.”

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.

The announcement was made today by the Honourable Lynne Yelich, Minister of State for Western Economic Diversification, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Greg Brkich, Member of the Legislative Assembly for Arm River – Watrous, on behalf of the Honourable Donna Harpauer, Minister of Social Services and Minister Responsible for Saskatchewan Housing Corporation; and Marvin Gerbrandt, Mayor of Hanley.

“The Government of Canada is helping make affordable housing available in Saskatchewan and across Canada for those who need it the most,” said Minister Yelich. “These new units in Hanley are helping seniors access safe and suitable housing, and build a stronger future for themselves.”

“Our government is committed to providing affordable housing and housing services for the people of Saskatchewan, including seniors who helped build this province,” said MLA Brkich. “By working together with both levels of government and community partners, we are working to help meet various housing needs in Saskatchewan communities and building brighter futures and sustainable communities.”

“The Town of Hanley is proud of the opportunity to have provided seniors with affordable housing following the construction of a complex consisting of 12 two-bedroom suites,” said Mayor Gerbrandt. “Through this project, we have enabled the seniors of our community to stay in Hanley while encouraging other seniors to take advantage of what our town has to offer.”

The project consists of two buildings which were renovated into 12 two-bedroom rental units for low and moderate-income seniors, both singles and couples. The total capital cost of the project is approximately $1,200,000. Of that amount, the three levels of government provided $648,000 in the following manner: $324,000 from the federal government; $259,200 from the Province of Saskatchewan; and $64,800 from the Town of Hanley. The funding balance was provided in the form of mortgage financing (Saskatchewan Elks Foundation) and land contribution (Town of Hanley).

In 2008, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

he governments of Canada and Quebec are partnering to provide a joint investment to build new affordable housing and renovate existing social housing throughout Quebec. In addition to providing economic stimulus, this investment will help create jobs and improve the quality of life for people across all regions of the province.

Both levels of government officially signed an extension to the Agreement for residential renovation and adaptation programs and the amending agreement for the Affordable Housing Initiative, which includes Canada’s Economic Action Plan, resulting in a joint investment of more than $820 million over the next two years.

The Honourable Josée Verner, Minister of Intergovernmental Affaires, President of the Queen’s Privy Council and Minister for la Francophonie, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Laurent Lessard, Minister of Municipal Affairs, Regions and Land Occupancy, made the announcement at a signing ceremony today.

“The Government of Canada continues to work hard to support Canadians during these challenging economic times and has moved quickly to ensure Canada’s Economic Action Plan is implemented rapidly,” said Minister Verner. “We are stimulating our economy, while helping people in need, including seniors, persons with disabilities and low-income individuals, access suitable, affordable housing. We are also making needed renovations to existing social housing both in Quebec and across Canada.”

“We are partnering to build new affordable housing and renovate existing social existing to help Quebec households access adequate housing conditions. We are very proud that we can make a real contribution to the wellness of the population by providing access to a quality housing environment. In addition, these major investments will promote job creation — a plus for our economy and a source of wealth for Quebecers,” said Minister Lessard.

The investments announced today include $384 million from the Government of Canada, while the Government of Quebec is contributing a further $439 million.

Of the more than $820 million, the Government of Canada will allocate $269 million over two years under Canada’s Economic Action Plan as part of a one-time investment of more than $2 billion to build new and renovate existing social housing. Quebec will also contribute the same amount for these initiatives, over the next two years.

These investments build upon the $1.9 billion five-year commitment for housing and homelessness programs announced by the Government of Canada in September 2008, which extended the Affordable Housing Initiative and the renovation programs for low-income households for two more years. The extension of these programs means that a further sum of $285 million ($115 million from the Government of Canada and $170 million from the Government of Quebec) will be invested to build new affordable housing and assist low-income households with needed renovations to their homes.

CMHC has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.

Friendship Lodge, an $8.1-million, 30-unit apartment building, officially opened today to provide housing and support services for adults who are homeless or at risk of homelessness with mental health and addiction issues in Prince George.

“The Government of Canada is helping make affordable housing available in British Columbia and across Canada for those who need it the most,” said the Honourable Jay Hill, Leader of the Government in the House of Commons and MP for Prince George – Peace River, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “These new units in Prince George improve the housing conditions for those at risk of homelessness with access to suitable, affordable housing that meets their specific needs.”

The Government of Canada provided a Canada – BC grant of $2 million, through Canada Mortgage and Housing Corporation. The Province provided $5.9 million in mortgage financing through the Provincial Homelessness Initiative, which integrates support services with housing to help people move beyond temporary shelter to more secure housing, greater self-reliance and appropriate employment. In addition, the Province is providing operational funding of $529,292 for administration including full-time onsite staffing and support services.

“Our government is working towards creating housing opportunities for our most vulnerable citizens so they can live in safe environments providing support services to ensure they get the help and guidance they need,” said Shirley Bond, Minister of Transportation and MLA for Prince George – Valemount. “Friendship Lodge has already made a positive impact on the Prince George community and I look forward to seeing and hearing more about the positive stories that will come from its residents.”

“Homelessness and affordable housing are important issues facing our community and surrounding regions,” said Mayor Dan Rogers, City of Prince George. “The opening of Friendship Lodge and Nutesne Yoh is a good step towards meeting the needs of our most vulnerable.”

Friendship Lodge will be managed and operated by Prince George Native Friendship Centre Society (PGNFCS). The society also manages and operates Nutesne Yoh (the former Astoria Hotel), a 17-unit supportive housing development for women who are homeless or at risk of homelessness with mental health and addiction issues. The Province provided approximately $1-million for the purchase and renovations of Nutesne Yoh and is providing $288,553 annually in operational funding.

“Our partnerships with the federal and provincial governments have allowed the Prince George Friendship Centre Society to officially open a total of 47 units of supportive housing to help struggling men and women find the housing and supports they so desperately need,” said Barbara Ward-Burkitt, M.Ed., executive director, PGNFCS. “I am confident that our newly expanded housing programs and support services will provide path ways for the residents to move toward long-term independence and greater self-reliance.”

In 2008, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.

Increasing affordable housing, reducing homelessness and helping B.C.’s most vulnerable citizens is a key agenda for the Province of British Columbia. In 2009/10, the Province’s budget for affordable housing and shelters is $469 million, more than four times as much as in 2001.

My problem is as follows: I am an immigrant who has been in Canada for 6-7yrs and have no RRSP room to speak of, and can only count on a small CPP. All my savings and investments are in a non-registered account.

My allocation if I include property is about 60/40 FI/Equities.

Inflation is certainly a hot topic for many investors since every pundit in the media has an opinion of where inflation will appear and to what degree of severity with hyperinflation being a term that’s been thrown around far too loosely as governments attempt to stimulate economies.

Any conservative investor, regardless of risk or investment style, needs to concern themselves with inflation in all market conditions because inflation affects the real value of your investments. If your investment portfolio returned 4% after costs last year and the inflation rate was 2% your real return for the portfolio was only 2%. What an investor wants to do is achieve returns in their portfolio that outpace inflation over the long-term and provide them with equal or greater purchasing power in the future.

Investing for inflation is really not much different than wanting a raise each year that matches your increases in the cost of living. Essentially your portfolio should be giving you a raise each year in your income to offset the increasing prices of goods and services you use.

To answer Vince’s answer directly it’s not whether he should invest in only short-term bonds, real return bonds or common shares but how much of each to hold over the long-term.

Short-term bonds provide decent inflation protection at the expense of a much lower yield than a longer yielding bonds because you’re not taking on the same interest rate risk. Real return bonds maintain your investment from inflation and you only need to buy a weighting large enough for your desired allocation. Common shares, specifically ones that pay dividends, offer an investor a few advantages in terms of protecting against inflation. Companies that own/operate inflation sensitive assets such as real estate, commodities and infrastructure tend to fare better in valuation terms than other companies. Some dividends stocks pay a dividend and increase that dividend on a yearly basis above the annual rate of inflation then have already achieved your desired goal if the dividend continues to be paid regardless of the effect on share prices. Because dividends, for Canadians, are eligible for the Dividend Tax Credit in a non-registered portfolio the taxation of dividends is less than that of gains from interest (bonds & GIC’s) or from capital gains.

http://www.nurseb911.com/2009/07/protecting-investments-from-inflation.html

reviewed by Moishe Alexander, CFC canadian funding corp CEO