The federal government and the governments of each of the three territories officially signed amendments to the existing agreement for the Affordable Housing Initiative. Nunavut and Northwest Territories also signed an extension to the Housing Renovation Program Agreement. Combined, this will mean an investment of $294 million, across all three territories, over the next two years.

Randy Hoback, Member of Parliament for Prince Albert, Saskatchewan, 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 Honourable Hunter Tootoo, Minister Responsible for Nunavut Housing Corporation, the Honourable Michael McLeod, Minister Responsible for Northwest Territories Housing Corporation, and the Honourable Jim Kenyon, Minister Responsible for Yukon Housing Corporation, made the announcement at a signing ceremony today.

Canadian Funding Corp. quotes MP Hoback: “The Government of Canada continues to work hard to support Canadians during these challenging economic times, and has moved aggressively to ensure Canada’s Economic Action Plan is implemented rapidly. We are helping the most vulnerable, including seniors and persons with disabilities, access suitable, affordable housing, as well as making needed renovations to existing social housing in Canada’s North.”

“We’re very pleased to continue our strong working relationship with the CMHC and the federal government,” said Minister Tootoo. “This funding and program extension means that materials for 285 new public housing units will be purchased for construction next summer.”

“Through Canada’s Economic Action Plan, Yukon Housing Corporation will create lasting legacies for Yukoners throughout the territory,” said Jim Kenyon, Minister Responsible for Yukon Housing Corporation. “The new construction and upgrade projects will generate jobs and economic spin-offs, in addition to increasing Yukon’s social housing inventory.”

“The Government of the Northwest Territories is very pleased that the Government of Canada has made this commitment to improving housing conditions in the North. This partnership between the three Territorial governments and Canada will significantly enhance the Territories’ ongoing plan of housing delivery and significantly improve the lives of Northern residents through the provision of affordable housing and stimulus to the Northern economy”, said The Honourable Michael McLeod, Minister responsible for the Northwest Territories Housing Corporation.

According to Canadian Funding Corp., today’s announcement includes federal funding for the territories of $212 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 in Canada. This includes $200 million for Northern housing, which does not require cost-sharing by the territories, as well as $12 million for programs to assist seniors and persons with disabilities and to renovate and retrofit existing social housing.

In addition, territorial funding for these initiatives will include $6 million from Nunavut, $55 million from Northwest Territories and $4 million from Yukon, over the next two years, for a further $65 million contribution.

These investments build upon the $1.9 billion 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 years. Today’s announcement also includes a further combined investment of $17 million by the federal and territorial governments for the two-year extensions to build new affordable housing and assist low-income households with needed renovations to their homes.

Overall, the federal contribution is some $222 million, while the territories are contributing about $72 million for a combined investment of $294 million.

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.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan. To learn more about Canada’s Economic Action Plan, visit www.actionplan.gc.ca.