Agenda • National Housing Strategy overview • Area of focus • Programs available to Co-ops • Success stories cmhc-nhs.ca 1
A vision for housing in Canada Canadians have housing that meets their needs and that they can afford. Affordable housing is a cornerstone of sustainable, inclusive communities and a Canadian economy where we can prosper and thrive. cmhc-nhs.ca 2
Areas of focus under the Strategy Resources for Create Modernize Existing Innovation and Community Housing New Housing Housing Research Providers Technical assistance, Funding and financing tools and funding Funding opportunities Funding and financing opportunities to renew opportunities to to promote excellence opportunities and renovate the increase capacity and innovation in the to build new existing affordable and support the housing research and affordable housing. housing stock. community housing data sector. sector. cmhc-nhs.ca 3
PRESERVATION FUNDING Provide financial assistance to federally administered social housing providers whose operating agreements are approaching expiry, and who require assistance in maintaining the viability of their projects. This Fund supports preservation activities that will help Providers achieve a more viable and sustainable business model, and prepare them for other funding opportunities. − Building condition audit / assessment (BCA) − Capital replacement reserve planning (CRP) − Refinance consultation, analysis, assessment − Operating viability analysis − Age-friendly conversion assessment − Energy audit cmhc-nhs.ca 4
FEDERAL COMMUNITY HOUSING INITIATIVE Phase 1: Subsidy Extension Temporary funding to support eligible federally- administered community housing projects that are reaching the end of their operating agreement. Phase 2: New Rental Assistance Program Consultations will establish a new rental assistance program and put in place new operating agreements as old ones expire. cmhc-nhs.ca 5
PREPAYMENT FLEXIBILITY FOR CO-OPERATIVE AND NON-PROFIT HOUSING PROVIDERS Co-operative and non-profit social housing providers can apply to prepay their mortgage without incurring a penalty. cmhc-nhs.ca 6
SEED FUNDING Create New Housing NEW CONSTRUCTION Supports Costs for pre-development activities related to the construction of new affordable housing supply. cmhc-nhs.ca 7
SEED FUNDING Preserving Existing Housing Units • The Preservation Stream is open to community housing sector groups who were previously under a federally administered operating agreement or to those transferred under a Social Housing Agreement whose federal operating agreements have ended. • If you hold an active federally administered operating agreement and need this type of funding, please visit Preservation Funding for Community Housing. cmhc-nhs.ca 8
National Housing Co-Investment Fund Create New Housing Eligibility Groups Projects • Community housing • Urban Indigenous community housing providers (public, private • Mixed-use market and/or affordable non-profit, rental co-op, etc.) rental housing • Municipalities • New construction and/or conversion • Provinces and territories from a non-residential use to affordable multi-unit housing • Indigenous governments and organizations • Shelters • Private sector • Transitional and supportive housing cmhc-nhs.ca 9
National Housing Co-Investment Fund Create New Housing Project requirements • Have at least 5 units or beds. • Ensure primary use is residential. • Meet minimum requirements for: ◦ partnerships; ◦ financial viability; ◦ affordability; ◦ energy efficiency; and ◦ accessibility. cmhc-nhs.ca 10
National Housing Co-Investment Fund Housing Repair and Renewal Stream • When feasible, a loan should be considered as the first option by proponents and may be combined with a contribution. Capital contributions may be available in addition to a Co-investment loan in the following circumstances: • additional funding for higher performing projects to offset higher costs of meeting or exceeding minimum requirements • where cash flow is insufficient and contribution is needed to attain break-even cash flow cmhc-nhs.ca 11
National Housing Co-Investment Fund Urgent Repair and Renewal Stream • A repair can be considered urgent if it is required to protect the health and safety of occupants and/or prevent the deterioration of the building and potential loss of rentable units. cmhc-nhs.ca 12
National Housing Co-Investment Fund Urgent Repair and Renewal Stream • If under Regular repair and renewal stream all projects must meet minimum criteria for energy efficiency and accessibility • Under Urgent repair and Renewal Stream Minimum criteria for accessibility and energy efficiency required where practically and technically possible. I.e. repairs/replacement of systems that consume energy. Urgent repairs projects are eligible for funding to include features that increase the accessibility of the dwelling units and common areas. cmhc-nhs.ca 13
National Housing Co-Investment Fund Urgent Repair and Renewal Stream • Urgent repairs and regular repairs should be included in one application. We want to ensure that a project remains sustainable for the next 20 years or more, so are interested in all needed repairs. Urgent repair means that we recognize the need to address an issue that is affecting health and safety or deterioration of the building. It does not mean emergency funding nor faster access to approval or funding. cmhc-nhs.ca 14
Prioritization – Common Elements Common elements Elements of prioritization Affordability Greater number of units, and depth of affordability Energy Efficiency On a life cycle basis, greater than 25% efficiency improvement and greenhouse gas emission reduction Accessibility Greater number of accessible units and level of accessibility Average proximity to transit Proximity to transit systems and /or hubs Collaboration/Partnerships Supports whole-of-government approach and includes multi-type partners (e.g., non-profits and private developers) Social Inclusion Mixed income; integrated supports and services; servicing vulnerable populations; accessibility features; proximity to amenities and community supports Supporting Federal Priority Projects that target priority populations: women and children fleeing family Groups violence, projects specifically serving women and girls, seniors, Indigenous peoples, people with disabilities, those dealing with mental health and addiction issues, veterans, young adults, visible minorities and newcomers. cmhc-nhs.ca 15
FAQs • Who applies? cmhc-nhs.ca 16
FAQs • What if I just want grant money? cmhc-nhs.ca 17
Age-friendly community resources Outlines the broad steps to creating a housing strategy for an age-friendly community. Free download from: www.cmhc.ca/observer cmhc-nhs.ca 18
Housing Strategy and Action Plan for a Diverse Population Benefits of a well-planned age-friendly community: • Walkability • Good transit and transportation • Well-coordinated health and social services • Employment and volunteer opportunities • Affordable, accessible housing • Housing that allows tenants or owners to age in place • Less isolation, and more inclusion and intergenerational connection cmhc-nhs.ca SOCIÉTÉ CANADIENNE D’HYPOTHÈQUES ET DE LOGEMENT 19
Visitable Homes 1. No Step Entry 2. Clear Passageway 3. Accessible Bathroom cmhc-nhs.ca 20
Success Story • A success story by CHF Canada, published in the Success Story • Ramsay Hights Coop, Calgary cmhc-nhs.ca 21
www.cmhc-nhs.ca cmhc-nhs.ca
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