House Funding Boosted in Alberta
Tags: affordable housing program, canadian government, economic action, Economy, federal government, government of alberta, government of canada, homelessness, income households, levels of government, quality of life, renovation, social housing
The Government of Canada and the Government of Alberta are partnering on a joint investment. This investment is to build new and renovate housing to make it more affordable.
From this investment, jobs will be creating, further strengthening the economy and improve the quality of life for residents of Alberta.
Alberta Affordable Housing Program agreement was signed by both levels of government and announced $386 million over next two years in Alberta.
The announcement made includes federal funding of $95 million over two years under Canada’s Economic Action Plan as part of a one-time investment which is more than $2 billion to build new and renovate existing social housing in Canada.
The investments will build upon the $1.9 billion commitment for housing and homelessness programs that were announced in September 2008 by the Canadian Government. This extended the Affordable Housing Initiative (AHI) and the renovation for low income households for two years.
With the recent announcement made, it combines an investment of $48 million by both levels of government for the two year extension of the AHI to build new affordable housing.
Alberta is also contributing $132 million for affordable housing in the next two years.
Overall the total contribution by both the federal and from Alberta is $386 million with the federal government contributing $135 million and Alberta contributing $251 million from its Capital Plan.
Jeff Markewich
Broker of Record with InfoMarket Group GMAC Real Estate
www.imgrealestate.ca
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