Good news for low-income co-op households! - May 13, 2016

Good news from feds for low-income co-op households!

Housing co-ops all across Canada got some good news last week from federal Minister of Families, Children and Social Development Hon. Jean-Yves Duclos. In his newsletter, Dialogue with Duclos the Minister confirmed that Canada Mortgage and Housing Corporation (CMHC) will renew existing subsidies for co-ops whose federal program operating agreements expire between between now and March 2018.

Here's a summary of what this means for federal program housing co-ops in British Columbia:
  • 55 co-ops whose operating agreements expire between now and March 2018 will continue to receive subsidies if they maintain or increase the number of subsidized units for low-income households. 
  • The province will be expected to provide assistance to low-income members in the 22 co-ops that have already reached the end of their federal operating agreements. The federal government has provided additional funds to B.C. to cost-share that expense. 
  • After March 2018, the province will assume responsibility for all assistance to low-income households. 

This marks a very successful end to our You Hold the Key campaign at the federal level.

We now have until March 2018 to get a long-term agreement with our provincial government that will keep seniors, people with disabilities and other low-income co-op households secure in their co-op communities. We've already begun discussions with BC Housing. 

As always, we're depending on your help. Please:

We are so close to achieving all of our campaign objectives. Let’s work together to finish the job!


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