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 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:
Pass a resolution endorsing the campaign and send it to your MLA and B.C. Housing Minister Rich ColemanTell us your stories: In print, on video and in person
Thank all the elected officials who helped get us this far
Stay tuned: Watch the campaign website and check our Facebook page and Twitter feed for updates
We are so close to achieving all of our campaign objectives. Let’s work together to finish the job!