WHEREAS non-profit cooperative housing provides valuable mixed income housing for a range of households, with low-income cooperative members benefiting from rent subsidies geared to income assistance; AND WHEREAS in the next twenty years operating agreements with over 180 cooperative housing providers will expire, affecting almost 11,000 units in Metro Vancouver and more than 14,500 units across the province; in the short term, by 2017, rent-geared-to-income subsidies for low-income members will cease for one-quarter of housing cooperatives in BC: THEREFORE BE IT RESOLVED that local governments throughout British Columbia urge the federal and provincial governments to work together to reduce the uncertainty for vulnerable members of housing cooperatives by ensuring that long-term, cost-shared rental assistance programs are in place as federal cooperative housing agreements expire.
Ministry of Natural Gas Development Minister Responsible for Housing The Co-op subsidy is a federal government program and the Province of British Columbia has never been involved in the program. The Province has a limited relationship with co-operative housing providers as most co-operatives are administered at the federal level by the Agency for Co-operative Housing. Co-operative housing projects operate as a form of ownership. Since co-op members are considered homeowners and not renters, they are not eligible for rent supplement programs. The Province currently provides funding that keeps more than 2,200 co-op units affordable to those with low to middle incomes and we will continue to provide that funding. The Province has committed to maintain our portion of the subsidy in cost-shared developments, where necessary, in order to preserve affordable units. We are working closely with our non-profit partners to develop strategies that will help them succeed when their mortgages are paid and their operating agreements conclude.
Minister of State Social Development The federal governments approach to housing recognizes that provinces and territories are best placed to understand local needs. The federal government, through Canada Mortgage and Housing Corporation CMHC, provides funding to provinces and territories to help meet the continuum of affordable housing needs in their jurisdiction. Since 2006, the Government, through CMHC, has invested almost 19 billion in housing, including 2 billion in British Columbia. Working with key partners, the federal government has helped close to 915,000 Canadian individuals and families, including low-income seniors, persons with disabilities, recent immigrants and First Nations. The Government is honouring its commitments to the existing social housing stock under long-term agreements of 25 to 50 years. At the end of these agreements, the federal government funding will end as planned. At the same time, the mortgages on these properties will generally be paid off and housing providers will find themselves with lower operating expenses as well as real estate assets that can be used to continue to provide affordable housing. I would also like to add that our Government is providing significant funding under the Investment in Affordable Housing IAH. Under the IAH, provinces and territories cost match the federal investment and are responsible for program design and delivery. Provinces and territories have the flexibility to invest in a range of affordable housing programs in order to meet their local needs and priorities. Funding may be used to create new or to renovate affordable rental housing; to improve affordability such as through rent supplements; and, to foster safe independent living through accessibility modifications. For the Province of British Columbia, this represents a combined investment of more than 300 million over five years. Under the IAH, British Columbia has the flexibility to design and deliver a range of affordable housing programs to address local housing needs and priorities. The Province of British Columbia will commit the joint annual funding to support and enhance existing programs, and towards new construction or renovations. From April 2011 to December 2014, more than 217,000 households have benefitted from the IAH nationally, including more than 9,200 households in British Columbia. I would also like to draw members attention to CMHCs Affordable Housing Centre, which helps create new affordable housing, including rental housing, for projects that do not rely on federal subsidies, by offering assistance such as Seed Funding, and Proposal Development Funding. Since 2006, CMHCs Affordable Housing Centre has facilitated the production of more than 25,000 affordable housing units of which 10,773 were for seniors. In addition, CMHC provides a wide range of mortgage loan insurance products that help Canadians, including seniors, access housing finance at competitive interest rates. CMHC also provides mortgage loan insurance for large, multi-unit rental properties including nursing and retirement homes; a segment of the market only served by CMHC. From 2009 to 2014, CMHC provided mortgage insurance on loans for 50,002 seniors housing units. Taken together, this broad range of housing activities supports vulnerable Canadians, homeowners, renters and the housing sector. I hope this information helps assure the members that our Government is committed to affordable housing solutions and to helping Canadians meet their housing needs.