Lethbridge Real Estate - News Releases
Canada’s Economic Action Plan Creates Jobs and Improves Social Housing in Alberta – Calgary
CALGARY ALBERTA, June 26, 2010 — The Government of Canada announced today that a non profit housing project located in Calgary received more than $240,000, through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.
The announcement was made at Bowside Manor by Lee Richardson, Member of Parliament for Calgary Centre, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).
“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth," said MP Richardson. “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local jobs.”
The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.
“We congratulate and thank the federal government, MP Richardson and CMHC for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents, “ said Ken Elliott, President of the Co-operative Housing Federation of Canada. “Today’s announcement is an excellent example of stimulus funding that works towards preserving jobs, assisting the local economy, and protecting valuable affordable housing assets for Canadians.”
“On behalf of the board of directors of the Calgary Chinatown Development Foundation and members of the Chinese Community; we thank the Federal Government and CMHC for providing affordable housing for low-income families,” said Hugh Louis, President of the Calgary Chinatown Development Foundation. “The recent CMHC funding through ‘Canada's Economic Action Plan’ to upgrade Bowside Manor’s windows and patio doors has proven successful. It has improved comfort for all residents of Bowside Manor and energy saving for the building. This benefit will last many years to come and the foundation thanks the Federal Government’s economic initiative.”
More information on this and other measures in Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.
To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.
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Robert May is a Realtor, as well as the broker and owner of Rainbow Realty of Lethbridge Alberta . He is also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta. He has been in the Lethbridge real estate industry since 1993 and offers full Lethbridge real estate services to Lethbridge and surrounding area, as well as Lethbridge mortgage financing, mortgage refinancing , preapprovals, and Lethbridge loans financing to Lethbridge and Southern Alberta. He can be found online at this link: mortgage broker Lethbridge
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