Moishe Alexander applauds the Government of Canada’s announcement today that the Town of Rimbey has been approved for an infrastructure loan as part of Canada’s Economic Action Plan.
The announcement was made by Blaine Calkins, Member of Parliament for Wetaskiwin, on behalf 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 MP Calkins. “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 and stimulate the local economy here in Rimbey, and in all corners of the country.”
Rimbey has been approved for a low-cost loan of more than $1.5 million from CMHC’s Municipal Infrastructure Lending Program (MILP), to upgrade its water distribution system. These upgrades will improve the water pressure for residents of Rimbey as well as increase the town’s water storage capacity for fire protection.
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.
“The Municipal Infrastructure Lending Program is great for smaller communities with limited borrowing capacity” said Tony Goode, Chief Administrative Officer for the Town of Rimbey. “Thanks to the CMHC loan, the Town of Rimbey is able to undertake water storage and distribution improvements that will enhance the Town’s ability to provide sustainable residential, commercial, and industrial growth in the area.”
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.
Scenes from Rimbey – Moishe Alexander (video)
Moishe Alexander, Better Building – An estimated 2.1 million households in 10 major surveyed centres indicated they completed renovations last year according to the Renovation and Home Purchase Survey released today by Canada Mortgage and Housing Corporation (CMHC). The average cost of renovations was approximately $12,100.
The Renovation and Home Purchase Survey reports on actual renovation expenditures made in the previous year, as well as intentions to buy or renovate a home in 2010 in the following 10 major centres: St. John’s, Halifax, Québec City, Montréal, Ottawa, Toronto, Winnipeg, Calgary, Edmonton, and Vancouver.1 The survey provides timely information on renovation market trends.
“More than $25.8 billion was spent on renovations in 2009 across the 10 major surveyed centres, an increase of about $4.5 billion compared to 2008,” said Gustavo Durango, Senior Economist at CMHC. “As well, when Canadian homeowners were asked about their renovation plans for this year, 43 per cent indicated that they intend to spend $1,000 or more by the end of 2010.”
Half of the households surveyed reported that the cost of renovations undertaken in 2009 was in line with what they had budgeted, while 35 per cent said that they went over their planned budget for the renovation. Twenty-seven per cent of households that undertook a renovation project hired a contractor for a portion of the work. Twenty five per cent of renovations in 2009 were completed by “do it yourselfers”. However, many households (42 per cent) chose to contract out the entire renovation project.
Across the surveyed centres, 76 per cent of households who undertook renovations in 2009 paid for the work from savings, a slight increase from 75 per cent in 2008.
Moishe Alexander – Renovation Spending
The main reason given by households for renovating in 2009 was to update, add value or to prepare to sell (52 per cent). Thirty-two per cent said the main reason for renovating was that their home needed repairs. The top three renovations completed last year were: remodelling rooms (34 per cent); painting or wallpapering (29 per cent); hard surface flooring and wall-to-wall carpeting (27 per cent).
Of the 10 major surveyed centres, the highest percentage of homeowner households that renovated in 2009 was in St. John’s at 59 per cent, followed by Ottawa at 58 per cent, and Halifax and Winnipeg (both at 55 per cent). The centre with the lowest proportion was Montréal at 45 per cent.
Renovation intentions for 2010, across the 10 surveyed centres, are highest in St. John’s, where 55 per cent of consumers indicated they plan to undertake renovations costing $1,000 or more. This is followed by Halifax, Winnipeg and Ottawa (all at 50 per cent). The proportion of potential renovators is lowest in Québec City and Montréal (both at 39 per cent).
On the home purchasing front, six per cent of all households indicated they bought a home in 2009, unchanged from 2008. The largest share of homebuyers was in Edmonton (nine per cent), followed by St. John’s, Quebec, Ottawa and Winnipeg (all at seven per cent). The lowest share of homebuyers was in Toronto (five per cent).
Five per cent of households across the surveyed centres intend to purchase a home that will be used as a primary residence in 2010.
Home buying intentions are strongest in Edmonton where seven per cent of households reported that they are considering buying a home this year, up from six per cent in 2009. Purchase intentions are the lowest in St. John’s and Ottawa at four per cent (these were the only jurisdictions reporting lower intentions than last year, a decline from five per cent in 2009).
Posted by the CFC
The Better Buildings Partnership (BBP) is an innovative program administered by the Energy Efficiency Office to provide resources including financial assistance for energy efficient retrofits and construction of Toronto buildings. The BBP’s primary goal is to reduce carbon dioxide (CO2) emissions which come from the energy used primarily to heat, light and cool buildings.
Why build and maintain energy efficient buildings?
A few of the benefits include:
* Lower utility bills
* Increased resale value
* Reduced greenhouse gas emissions
* Reduced strain on our energy supply
* Potentially better indoor air quality leading to better health and productivity
BBP is currently partnered with the Ontario Power Authority to deliver attractive energy savings incentives for buildings in the 416 area code. Additionally, BBP helps building owners in the institutional and not-for-profit buildings sectors take advantage of Toronto’s Sustainable Energy Funds that offer zero interest loans for energy conservation or renewable energy projects.
To best serve participants, BBP is segmented in to three sector-focused programs each with their own rebate/incentive levels and guidelines.
