Ottawa, Quebec To Invest $3.7B In Housing

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QUÉBEC: The governments of Canada and Quebec are announcing an agreement that will result in a combined investment of close to $3.7 billion over 10 years to improve the housing conditions of many Quebec households in need.

The Canada-Quebec Housing Agreement, which covers the period from April 1, 2018, to March 31, 2028, was formalized by Ahmed Hussen, Minister of Families, Children and Social Development, and, Andrée Laforest, Minister of Municipal Affairs and Housing joined by their colleagues, the Honourable Pablo Rodriguez, Leader of the Government in the House of Commons, and Sonia Lebel, Minister responsible for Canadian Relations and the Canadian Francophonie.

The Agreement provides for total federal funding of $1.84 billion and involves a financial commitment from Quebec equivalent to the federal commitment for the three components covered by the Agreement:

• $272.25 million for the “Quebec’s Priorities” component;
• $1.12 billion for the “Canada Community Housing Initiative” component; and
• $454.3 million for the “Canada Housing Benefit” component.

Quebec housing stakeholders will continue to have access to the National Housing Co-investment Fund. A joint federal-provincial committee will be established to enable Quebec to best guide the CMHC funding by choosing investments that align with its own priorities.

The Agreement confirms that the governments of Canada and Quebec share the common objective to reduce the number of Quebec households in housing need. Canada’s financial contribution will thus support Quebec’s housing initiatives and priorities.

In turn, CMHC will be able to use the information from the SHQ under this Agreement to measure the achievement of the federal targets of the National Housing Strategy that it has set itself.

Ahmed Hussen said: “We want to ensure that every Quebecer has a safe and affordable place to call home. Long-term, predictable funding has been expected for more than 10 years.

Today, with the Government of Quebec, we have taken an important step toward achieving our goal of building strong communities, now and for the future, where Quebec families can prosper and thrive. Our government will continue to work in partnership with Quebec and other provinces and territories to increase the supply of new affordable housing, renew existing community-based housing and improve housing affordability for all Canadians. “

Andrée Laforest, Minister of Municipal Affairs and Housing said: “Housing has always been a priority for our government.

As Minister of Municipal Affairs and Housing, I am proud that we have reached an agreement that will help thousands of Quebec families and meet the needs expressed by municipalities.

This was a long-term effort, but it will benefit all Quebecers in all regions of Quebec, while being a real driver for improving their quality of life. Among other things, it will enable us to bring many social housing projects to life, breathe new life into buildings that need renovations, and thereby contribute to the economic recovery. “

• The federal government’s financial contribution under this agreement is divided into three
components.
◦ The “Quebec’s Priorities” component will enable Quebec to fund projects in accordance with its priorities, which include accessibility, repairs, and the construction of affordable housing. The Agreement also provides for $159.3 million to be allocated to Quebec before March 31, 2021. – CNW

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