Posts Tagged ‘Program’

« Older Entries
Newer Entries »

Canada’s Economic Action Plan Creates Jobs and Improves Housing On Reserve in Alberta

Comments: 0January 4th, 2010 by admin

Posted by Moishe Alexander

The Government of Canada announced today an investment of more than $1.2 million as part of Canada’s Economic Action Plan to improve housing conditions for the Blood Tribe First Nation community.

Ted Menzies, Parliamentary Secretary to the Minister of Finance and Member of Parliament for Macleod, 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 Chuck Strahl, Minister of Indian and Northern Affairs and Federal Interlocutor for Métis and Non-Status Indians (INAC), made the announcement along with members of the Blood Tribe First Nation community.

“Our Government’s Economic Action Plan is delivering support for improvements in housing conditions for members who live in First Nation communities in Alberta and we are also stimulating the local economy by creating jobs,” said Parliamentary Secretary Menzies.

Through Canada’s Economic Action Plan, the Government of Canada has committed $400 million over the next two years to help First Nation communities build needed new housing, repair and remediate existing non-profit housing for their members, and complement housing programs offered by CMHC and INAC. This investment will also provide an economic stimulus for many First Nations and surrounding areas by creating jobs.

Through CMHC and INAC some $50 million in federal investments will be made available to First Nations in Alberta to address immediate housing needs. CMHC is contributing $695,000 to retrofit 42 social housing units on-reserve for the Blood Tribe First Nation while INAC is contributing $592,000 for other renovations and lot servicing.

Tags: , , , , , , , , , , ,
Posted in CMHC, Canada, affordable housing

Canada’s Economic Action Plan Delivers Housing-Related Infrastructure Loan for the County of Oxford

Comments: 0November 9th, 2009 by admin

Posted by Moishe Alexander

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.

Tags: , , , , , , , , , , ,
Posted in CMHC, Canada, Ontario, affordable housing

Long Term Economic Prospects Support Housing Market

Comments: 0November 3rd, 2009 by admin

The residential housing market will remain strong in historical terms this year and next. A moderate rebound is expected to push total provincial housing starts higher in 2010, to 3,525 units, following a decline to 3,400 in 2009.

Economic growth in New Brunswick was limited in 2009 as exporters in the province continued to face a decline in global demand for commodities. Fewer exports have also had a negative impact on the manufacturing and transportation sectors in the province. No significant increase in economic growth is expected until a global recovery begins to take hold in 2010.

Despite economic uncertainty, the long term outlook for New Brunswick contains positive elements which will serve to support housing demand. For example, the last provincial budget for 2009-2010 focused on job creation, with $1.2 billion set aside for infrastructure programs and support to New Brunswick businesses. Notwithstanding, the return of sustained economic expansion will rely heavily on capital investment.

Employment in New Brunswick’s three large urban centres has been stable in 2009. As a result, positive net-migration continued in both Moncton and Fredericton, as each centre benefited from solid service, retail and construction sectors. Conversely, in-migration in Saint John, which has been muted in recent years, is not likely to change during the remainder of this year and in 2010. Reduced housing demand in all three centres has led to a lower level of activity in both the new home and resale markets. Employment levels are expected to remain flat in 2010; however, this should not significantly affect the housing market.

The Bank of Canada cut the Target for the Overnight Rate in the early months of 2009. The rate was 1.50 per cent at the start of 2009 and has since fallen to 0.25 per cent. The Bank has committed to keeping this rate at 0.25 per cent through the middle of 2010 unless inflationary pressures warrant an increase.

Mortgage rates have fallen over the course of 2009, but are now expected to remain relatively stable for the rest of the year. Posted mortgage rates will gradually increase through 2010, but will do so at a slow pace. For 2010, the one-year posted mortgage rate will be in the 3.50-4.25 per cent range, while three and five-year posted mortgage rates are forecast to be in the 4.50-6.00 per cent range.

Tags: , , , , , , , , , , , , , , , ,
Posted in CMHC, Canada, New Home Starts, Ontario, affordable housing

« Older Entries
Newer Entries »