cmhc canada’s national housing agency...• cmhc has final decision-making authority on the...

CANADA MORTGAGE AND HOUSING CORPORATION

CMHC CANADA’S NATIONAL

HOUSING AGENCY


AGENDA

• Seed Funding

• Innovation Funding

• Affordable Rental Housing Financing Initiative

• National Housing Strategy Update

CMHC Programs:

CANADA MORTGAGE AND HOUSING CORPORATION CANADA MORTGAGE AND HOUSING CORPORATION

WHAT IS AFFORDABLE HOUSING?

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DETAILS OF CMHC’S

SEED FUNDINGFOR

AFFORDABLE HOUSING


CRITERIA

• Meet affordable needs• 5 affordable units minimum• Modest size and design• Not requiring long term federal assistance


AMOUNT

Up to 50K fully forgivable contribution Activities completed within 2 years - 50% invoiced in first 12 months

Up to 200k fully repayable, interest-free loanActivities completed within 5 years


ELIGIBILITY - PROPONENTS

Private entrepreneur/

builder/developer

Faith-based organization

Municipality

First Nation

Private non-profit

housing organization

Non-profitco-operative


ELIGIBILITY - PROJECTS

PROJECT CRITERIA

New construction Conversion Renovation


AFFORDABLE HOUSING CONSULTANTS – ONTARIO REGION

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2016 FEDERAL BUDGETKey Housing Measures

• $4.3 billion dedicated towards key housing measures

• Development of a National Housing Strategy

• Doubling the Investment in Affordable Housing Initiative

• Increasing Affordable Housing for Seniors and Victims of Family Violence

• Supporting Energy and Water Efficiency Renovations and Retrofits to Existing Social Housing

• Supporting the Construction of Affordable Rental Housing

• Investments in Housing for First Nations, Inuit & Northern Communities

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Affordable Rental Innovation Fund


Innovation is defined as solutions and financing

models customized to overcome barriers and lower the costs

and risks of rental housing projects (without on going subsidy)


$200Mfund for

innovative + unique ideasfor affordable rental housing


Did you know…

15

of Canadians

count on availability of

affordable rental

30%of new housing

starts are for

rentals

10%

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Audiences

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MUNICIPALITIES

PRIVATE

SECTOR

DEVELOPERS +

BUILDERS

NON-PROFIT

HOUSING

PROVIDERS

INNOVATORS


Criteria

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• Minimum of 5 new affordable rental units

• Innovative + unique models of design or financing models

• Maintain affordability for minimum of 10 years

• Must include measures for resource efficiency

• Must include accessibility features

• Must have access to public transit (some exceptions apply)

• Financially viable without on-going government subsidy


Application and approval process

• Initial call for proposals September 30, 2016.

• Online applications will be reviewed on an ongoing basis, and funding announcements

will be made every quarter.

• Proposals that meet all criteria will be referred to the i3 Committee for further review.

• Proposals that do not meet all criteria but show potential will be referred to the

Innovation Lab for further refinement.

• Proposals declined for not meeting criteria will be invited to resubmit

• The Fund is available for 5 years or until all funds are assigned, whichever comes first.

• CMHC has final decision-making authority on the selection of all proposals.

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CANADA MORTGAGE AND HOUSING CORPORATION 19

cmhc.ca/innovationfund

[email protected]

Faraz Soleymani

Consultant, Innovation Fund

514- 283-2450

[email protected]

mailto:[email protected]

mailto: [email protected]


AFFORDABLE RENTAL HOUSING FINANCING INITIATIVE

• Up to $500M/year for 5 Years

• Low cost loans to Municipalities & Housing Developers

• New Construction of Affordable Rental Housing

• Stay tuned for more in early 2017

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• A national conversation on housing was launched in June 2016

• Provincial/Territorial & Stakeholder Consultations & expert round tables took place over the summer led by CMHC

• Minister, the Honourable Jean-Yves Duclos, released the “What We Heard” report from the National Housing Strategy consultations via Facebook Live on November 22

NHS: Background


• more than 6,300 survey responses• more than 470 documents were uploaded,• more than 130 ideas were submitted and • more than 1,900 ideas originated from social

media• more than 7,000 participants in the consultations

Stakeholder Engagement


• innovative solutions • shared vision • greater collaboration among governments, Indigenous

leaders and the private and not-for-profit sectors • leverage existing knowledge, resources, capacity and

momentum • more collecting, analyzing and sharing housing data • research to support innovation and informed decision

making.

What We heard


• Every effort should be made to reduce or eliminate homelessness in Canada

• The strategy needs to prioritize the housing needs of low-income and vulnerable Canadians

• Special attention needs to be given to addressing the unique challenges facing Indigenous people, wherever they may live

• respond to the growing housing affordability challenges faced by low and middle-income Canadians especially in our large cites

• Housing should shape communities that are both inclusive and sustainable

• A strong social housing sector needs to be a pillar of the National Housing Strategy

Emerging Themes


• Housing supports a better quality of life• Affordability – affordable & meet needs• Sustainability – financially, socially, environmentally• Inclusivity – helps distinct, vulnerable groups

Important Housing Outcomes


• Ongoing discussions with provinces & territories, municipalities, indigenous organizations

• Incorporation of regional housing conditions• NHS will be released in 2017

Next steps

cmhc canada’s national housing agency...• cmhc has final decision-making authority on the...

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