Ontario Construction News staff writer
The Ontario government has announced funding for the modernization of community housing, aiming to support housing providers and deliver more affordable housing to those in need.
The province has allocated $646,790 to the Co-operative Housing Federation of Canada (CHF) over three years, which will be used to help CHF member housing co-ops transition to the new regulatory framework introduced in July 2022.
The new framework aims to encourage housing providers to remain in the system and develop asset management plans for 96 housing co-ops, while also requiring service managers to set local income and asset limits for rent-geared-to-income (RGI) assistance to ensure that assistance goes to those in greatest need.
The province also says that it will continue to work with partners to strengthen the community housing system and explore opportunities for partnerships and growth.
Rob Flack, associate minister of municipal affairs and housing, said: “Our government is proud of the work we’re doing with our partners to strengthen the community housing system for those who live and work in it.
“This important funding will help ensure a smooth transition to the new framework across the sector, and support housing co-ops as they explore opportunities for partnerships and growth.”