On 13 January, the Minister of Housing and Diversity and Inclusion, Ahmed Hussen, announced $118.2 million in funding for co-ops through the Federal Community Housing Initiative (FCHI).
This new funding is for co-ops located in B.C., Alberta, Ontario, Quebec and PEI whose CMHC operating agreement expired before April 2016.
Originally left out of FCHI, these co-ops were allowed to sign up for temporary assistance for just one year but will now be invited to join the Rental Assistance Program.
The Agency for Co-operative Housing is thrilled at the announcement and the protection it will provide for co-op residents by ensuring their housing charges stay affordable.
Stay tuned in the coming weeks for more information as enrollment packages are sent to eligible housing co-ops.
For more information on the Rental Assistance Program, please visit the Program Overview page and our Resources page.