Social Housing Agreements Cmhc
Federal NHS funds and equivalent resources made available through bilateral agreements with the CMHC. Current subsidies help ensure that low-income families living in these housing units do not pay a disproportionate amount of their income for housing construction. The multilateral framework sets out a common vision for housing and lays the groundwork for bilateral agreements on the implementation of important initiatives in the national housing strategy. In July 2011, the Government of Canada and the province of B.C. announced a $180 million agreement to invest in affordable housing to meet a range of housing needs for low-income people, families and seniors. Each government contributed US$90 million over a three-year period (April 1, 2011 to March 31, 2014). The new bilateral agreements signed with the provinces and territories are presented below. On June 20, 2006, the Government of Canada and the province of B.C announced the social housing agreement to transfer the management of 51,600 social housing units in the province. The federal, provincial and territorial governments are the main partners in housing and have a common responsibility and complementary role in housing. Housing ministers have approved a multilateral framework for the housing partnership, which is committed to achieving better housing destinations for Canada. In March 2014, The Government of Canada and the Province of B.C. announced an extension of the Affordable Housing Investment Agreement, which provides $150 million for an additional investment of more than $300 million over five years (April 1, 2014 to March 31, 2019) to provide more people and families in difficulty with access to affordable housing. Most of the unremarked social housing portfolio is managed by the provinces and territories under various long-term agreements.
These agreements define the funding guidelines and conditions for housing programs, with management in the hands of those most in contact with local needs. The rest of the portfolio is managed directly by CMHC. The 10-year agreement will invest more than $990 million in the protection, renewal and expansion of social and community housing and support the priorities of Homes for BC, the provincial government`s 30-point plan for affordable housing in British Columbia. We are working with the Canada Mortgage and Housing Corporation (CMHC) to address housing needs across the province.