An announcement by the federal government on June 25 is good news for housing co-ops waiting to hear if the extension of subsidies for low-income households will continue beyond 2020. The two-phase Federal Community Housing Initiative (FCHI) plan announced as part of the National Housing Strategy in November 2017 promised to protect vulnerable co-op households for the next decade. The first phase (FCHI-1) extended subsidies to March 31, 2020. Today the government confirmed that the second phase (FCHI-2) will offer another extension to March 31, 2028.
The announcement confirms that all households currently in receipt of assistance will continue to receive the same level of assistance.
“We’re delighted to hear that low-income co-op members will be protected for at least another nine years,” said CHF BC Executive Director Thom Armstrong. “The entire co-op housing sector has worked hard to secure this outcome. Congratulations and thanks to CHF Canada and everyone involved, especially the thousands of co-op members who never lost hope that the government would keep its promise to low-income members.”
Minister Duclos and CMHC have promised that the transition to extended subsidies will be timely and seamless. CHF BC and CHF Canada will continue to press for more detail on exactly how the new arrangements will work, when co-ops with agreements that expired before April 2016 will be eligible, and what if any additional strings will come with the assistance.
Enrolment will begin this fall. Read more in the CHF Canada news release.