This is an important update on CMHC’s new rental assistance program for housing co-ops – the Federal Community Housing Initiative 2 (FCHI-2).
Enrolment in the FCHI-2 began last month for federally administered co-ops. The program will provide new rent assistance to low-income members beginning April 2020 and lasting until March 31, 2028.
In earlier communication we advised all federally administered co-ops to apply for enrolment in FCHI-2 in case they are eligible. We can now be more precise in our advice.
By now, co-ops with operating agreements that expire before March 31, 2020 should have received an enrolment package from CMHC. You have until November 20, 2019 to opt into the program. Don’t miss this deadline! You can opt out of the program later if you change your mind.
Co-ops with CMHC operating agreements expiring after March 31, 2020 don’t need to do anything right now. CMHC will send you an enrolment package six months before your agreement ends and you can enrol then.
We can also confirm that CMHC is not accepting applications from co-ops:
We hope this is temporary. Discussions are underway to determine how every federally administered co-op can qualify for assistance under the program.
We are still waiting for more detailed information on how much assistance will be available and how it will be delivered. We will circulate more information as it becomes available.