Canada and Nova Scotia Sign $37.26-Million Affordable Housing Agreement

COMMUNITY SERVICES--Canada and Nova Scotia Sign $37.26-Million Affordable Housing Agreement

David Collenette, Minister of Transport and Minister responsible for Canada Mortgage and Housing Corporation, and Peter Christie, Minister of Community Services, today announced a $37.26-million Affordable Housing Program Agreement. Up to 1,500 affordable housing units will be created or will undergo renovation in Nova Scotia over the next five years as a result of this agreement.

Federal funding of $18.63 million, together with matching contributions from the government of Nova Scotia and housing partners, demonstrates a commitment to work together to address the need for affordable housing.

"More Nova Scotians will now be able to gain access to affordable housing thanks to this agreement," said Mr. Collenette. "This is the eighth provincial bilateral agreement that the government of Canada has signed, demonstrating our continuing commitment to help provide safe and strong communities throughout the country."

Mr. Christie said he was pleased by the signing.

"Today's agreement will support the ongoing efforts of the province of Nova Scotia to address the need for safe, affordable, appropriate and sustainable housing for low-to-moderate-income households," he said. "It will enable us to construct new affordable housing units and make improvements to existing housing in the province."

Funding under this agreement will be used for provincially designed programs that will support the creation of new rental housing and home ownership. It will also support the rehabilitation or conversion of existing housing, which is at risk of loss from the housing stock.

Stimulating the creation of more affordable housing was part of the government of Canada's Speech from the Throne in January 2001. The $680 million in federal funding was confirmed in the December 2001 federal budget.

Details on this initiative are available from Nova Scotia's Department of Community Services.

NOTE TO EDITORS: A backgrounder on the Affordable Housing Initiative is available by calling Communications Nova Scotia by e-mailing [email protected] .