CMHC Helping Canadians in Need MNL Convention

Size: px

Start display at page:

Download "CMHC Helping Canadians in Need MNL Convention"

Amelia McKinney
5 years ago
Views:

1 CMHC Helping Canadians in Need 2010 MNL Convention St. John`s s, October 6-9, 2010

2 Helping Canadians in Need Three Key Corporate Objectives: 1. Help Canadians in need. 2. Facilitate access to more affordable better quality housing for all Canadians. 3. Ensure the Canadian housing system remains one of the best systems in the world. CANADA MORTGAGE AND HOUSING CORPORATION 2

3 Helping Canadians in Need Four key areas for Helping Canadians in Need : 1. Aboriginal Housing 2. Housing Programs 3. Canada s Economic Action Plan 4. Affordable Housing Centre CANADA MORTGAGE AND HOUSING CORPORATION 3

4 CANADA MORTGAGE AND HOUSING CORPORATION 4

5 Helping Canadians in Need 3,500 Projects underway across the country, through Canada s Economic Action Plan. 8,600 New federal commitments to on-reserve non-profit units from ,000 Units facilitated by the Affordable Housing Initiative since ,000 Units facilitated by the Affordable Housing Centre since its inception in ,500 Units assisted by CMHC s suite of renovation programs ( ). 620,000 Estimated number of households assisted through long-term social housing commitments (2009). Source: CMHC Annual Report 2009

6 Helping Canadians in Need Housing Programs Existing Social Housing $1.7B/yr for 620,000 households in social housing. Non-profit groups, co-operatives, municipal and provincial housing agencies and First Nations. 80% administered by provinces/territories (P/T) under various agreements. CANADA MORTGAGE AND HOUSING CORPORATION 6

7 Helping Canadians in Need Housing Programs Affordable Housing Initiative Affordable Housing Initiative (AHI), it`s goal is to increase the supply of off-reserve affordable housing. P/T responsible for delivery and must cost-share on a 50:50 basis. Elsa, Resident at Rawlins Cross I was roaming around and didn t know what to do. I heard about Stella Burry and was accepted in their group. The rest is history. If you have problems, you can bend their ear and talk about anything you want. CANADA MORTGAGE AND HOUSING CORPORATION 7

8 Helping Canadians in Need Housing Programs Renovation Programs Homeowner Residential Rehabilitation Assistance Program (RRAP) RRAP for persons with Disabilities Home Adaptations for Seniors` Independence (HASI) Shelter Enhancement Program (SEP) Emergency Repair Program (ERP) Renovation programs are cost shared and delivered by six provinces and two territories, including NL. CANADA MORTGAGE AND HOUSING CORPORATION 8

9 Tools and Resources CANADA MORTGAGE AND HOUSING CORPORATION

10 Advancing Affordable Housing Solutions CANADA MORTGAGE AND HOUSING CORPORATION

11 Financial Incentives CMHC offers financial incentives to assist in the early stages of developing a housing proposal. Seed Funding Up to $10,000 grant $10,000 interest free loan Proposal Development Funding (PDF) Up to $100,000 interest free loan $190,000 CANADA MORTGAGE AND HOUSING CORPORATION Atlantic Affordable Housing Centre 2009 Facts Units Facilitated 268 Seed Grants Approved 44 Seed Grant Commitments $250, Seed Loans Approved 19 Seed Loan Commitments $ PDF Loans Approved 4 PDF Loan Commitments $250,000 PEI Annual Reno Budget $1,200,000 PEI A l R U it

12 Mortgage Loan Insurance (MLI) Rental Projects MLI Flexibilities help facilitate the production of affordable rental projects. Lenders can offer even more financing flexibilities to developers of affordable rental projects. The flexibilities allow: Reduced equity requirements / Larger loans Premium discounts Flexibility in cash flow requirements Loan advancing flexibility CANADA MORTGAGE AND HOUSING CORPORATION

The flexibilities allow: Greater flexibility in down payment sources Smaller monthly payments Greater flexibility

13 CMHC Mortgage Loan Insurance Ownership Projects Builders of affordable homeowner projects may obtain a number of mortgage financing flexibilities to assist potential homebuyers, ultimately making homeownership more accessible. The flexibilities allow: Greater flexibility in down payment sources Smaller monthly payments Greater flexibility in qualifying i borrowers Langford Affordable Housing Program Langford, BC CANADA MORTGAGE AND HOUSING CORPORATION

14 Launched in 2009, Canada s Economic Action Plan includes a number of housing-related measures which are being delivered through CMHC, including: Municipal Infrastructure Lending Program: up to $2 billion in low-cost loans to municipalities Building new and renovating existing social housing: more than $2 billion The bulk of CEAP funding is being delivered by provinces and territories through amendments to existing affordable housing agreements. $400 million for Housing for Low-Income Seniors $75 million for Housing for Persons with Disabilities $850 million of the $1 billion for Renovation and Retrofit of Social Housing $200 million for Northern Housing CANADA MORTGAGE AND HOUSING CORPORATION 14

15 Municipal Infrastructure Lending Program

16 Municipal Infrastructure Lending Program Project Universe 180 Projects Geographic Distribution Projects per Region # of Projec cts N ational Atlantic Q uebec O ntario Praries BC (YTD August) CANADA MORTGAGE AND HOUSING CORPORATION

17 Municipal Infrastructure Lending Program Project Universe 180 Projects Geographic Distribution 20 Projects in Newfoundland 1 Newfoundland Campbellton Cape St. George Conception Bay South Corner Brook Gander 2 Gillams 8 Lourdes Marystown Robert's Arm CANADA MORTGAGE AND HOUSING CORPORATION

Housing Action Plan Overview: The Community Housing

Municipalities Benefits of a Housing Action Plan Key

a Housing Action Plan Accurate Housing Research

19 Housing Action Plan Overview: The Community Housing Continuum Canadian Housing Affordability Guide for Municipalities Benefits of a Housing Action Plan Key Components of a Housing Action Plan Steps to Creating a Housing Action Plan Accurate Housing Research Barriers and Opportunities Tools to Create Housing Taking Action

20 Community Housing Continuum Emergency Shelters Transitional Housing The Community Housing Continuum Social Housing Affordable Rental Housing Affordable Home Ownership Rental Housing Home Ownership Government Subsidized Housing Non-Market Housing Market housing

21 Canadian Housing Affordability - NL $234, & 15%

22 Guide for Municipalities Small municipalities Policies, initiatives, tools and incentives Framework

23 Benefits of a Housing Action Plan Togetherness Challenges Solutions and concensus Pi Prioritizesiti Timeframe to measure results

24 Key Components of a Housing Action Plan Identification of stakeholders Assess need Resources & assets? Opportunity site(s)? Responsibilities development plan Review & update

25 Steps to Creating a Housing Action Plan Stakeholders Vision Confirm housing needs Site(s) Partnerships Responsibility & accountability Development plan Build Measure results Review

26 Accurate Housing Research Demographic information Identify gaps in supply Analyze current stock Inventory land, assets & resources

27 Barriers and Opportunities Development costs NIMBY Regulatory issues Approval process Fluctuation in housing market

28 Tools to Create Housing Nine Commonly Used Tools: 1. Grants and Loans 2. Housing Funds 3. Housing Organization 4. Inclusionary Zoning 5. Intensification 6. Land Banking and Land Donation 7. Public-Private Partnerships 8. Resale Price Restrictions 9. Secondary and Garden Suites

29 Taking Action Housing Action Committee Develop HAP Implement HAP Measure Celebrate Update

30 Development of a Housing Action Plan FIND YOUR WAY To get results, start with clear goals and the courage to follow where they lead!

31 Your Key To Advancing Affordable Housing Solutions CANADA MORTGAGE AND HOUSING CORPORATION

HOUSING ISSUES IN NORTHERN ALBERTA. June 1, 2007

HOUSING ISSUES IN NORTHERN ALBERTA June 1, 2007 INTRODUCTION Housing is fundamental to our social and economic well-being as individuals and communities. In northern Alberta, development is outpacing housing