Provincial investment will make the sector more efficient and sustainable
Aylmer – The Ontario government is providing the Co-operative Housing Federation (CHF) of Canada with $646,790 over three years to help their members successfully transition to a new regulatory framework under the province’s Community Housing Renewal Strategy.
After extensive consultation with the community housing sector, the government implemented a new regulatory framework in July 2022 that motivates housing providers to remain in the system and encourages new programs to better meet local housing needs. This investment will enable CHF to provide its housing co-op members with the tools and resources they need to adapt to the new regulatory framework. It will also support CHF’s members as they develop asset management plans for 96 housing co-ops and negotiate service agreements between their members and their respective Service Managers.
“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,” said Rob Flack, Associate Minister of Municipal Affairs and Housing. “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.”
These measures will protect critical community housing supply and make sure the system is sustainable over the long-term by:
- Encouraging housing providers to remain in the system by signing service agreements to support the continued delivery of community housing and deeply affordable rents for tens of thousands of households.
- Requiring Service Managers to set local income and asset limits for rent-geared-to-income (RGI) assistance to ensure this assistance goes to those in greatest need.
- Improving access to local forms of housing assistance and updating accountability rules for Service Managers to encourage new programs that meet diverse local housing needs.
The government will continue working with partners in the sector to strengthen Ontario’s community housing system.