SUMMERSIDE, PEI, February 19, 2010 — The Honourable Gail Shea, Minister of Fisheries and Oceans, on behalf of Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), announced today the approval of more than $8.2 million in low-cost loans for the communities of Summerside and Stratford as part of Canada’s Economic Action Plan.

The City of Summerside has been approved for a low-cost loan of $8 million to develop an electrical generating wind farm. This includes the installation of four wind turbines, the interconnection of the electrical grid and the construction of related transmission infrastructure in order to provide the residents of Summerside with green power and more stable electricity costs.

The Town of Stratford has been approved for a low-cost loan of more than $200,000 to improve their sewer and water systems. This includes installing new sewer mains for approximately 50 properties and new water mains for approximately 22 properties along Georgetown Road.

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said Minister Shea. “This program is opening the door for municipalities of all sizes to meet their housing-related infrastructure needs. Canada’s Economic Action Plan is creating jobs and stimulating the economy in the town of Stratford, and right here in Summerside.”

Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects through CMHC’s Municipal Infrastructure Lending Program (MILP). Municipal infrastructure loans are available to any municipality in Canada and will provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low-cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“This low interest loan from the CMHC’s Municipal Infrastructure Lending Program allows the City to have significant savings with the borrowing of the loan,” said Summerside Mayor Basil Stewart. “Producing wind energy was made a priority by our province and City, and having the opportunity to borrow this money through Canada’s Economic Action Plan has allowed the City to decrease the cost of borrowing.”

“We are pleased to be able to obtain a loan for our Georgetown Road infrastructure project from CMHC at a rate that is significantly lower than what we can obtain from the market,” said Stratford Mayor Kevin Jenkins. “The CMHC loan, along with the Building Canada infrastructure funding and the New Deal Funding, allowed the Town to provide much-needed sewer and water services to residents of the area, along with greatly improving safety via the addition of sidewalks and bicycle lanes. This project is a key step in accomplishing our goal of linked systems of sidewalks and bicycle lanes, encouraging our residents to use alternative transportation whenever possible and stay physically active.”

Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting and green space.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Posted by Moishe Alexander.

OTTAWA, February 8, 2010 — The seasonally adjusted annual rate¹ of housing starts reached 186,300 units in January 2010. This is an increase from an annual rate of 176,100 units in December 2009, according to Canada Mortgage and Housing Corporation (CMHC). According to final figures, actual housing starts for 2009 totalled 149,081 units, with activity improving as the year progressed.

“Housing starts improved in both the singles and multiples segments in January,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “These increases are similar to the ones that occurred in December.”

The seasonally adjusted annual rate of urban starts increased by 4.4 per cent to 165,200 units in January. Urban multiple starts increased by 5.7 per cent to 76,300 units while single urban starts increased by 3.3 per cent to 88,900 units.

January’s seasonally adjusted annual rate of urban starts increased by 19.8 per cent in British Columbia, by 7.3 per cent in Quebec, by 2.3 per cent in Atlantic Canada, and by 1.5 per cent in the Ontario. In the Prairie region, the seasonally adjusted annual rate of urban starts decreased by 4.8 per cent.

Rural starts were estimated at a seasonally adjusted annual rate of 21,100 units in January².

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

Posted by Moishe Alexander.

LADNER, BC, February 9, 2010 — Canada’s Economic Action plan delivers over $8 million dollars in much needed social housing renovation and retrofit investments for 13 housing co-operatives in the Lower Mainland.

The announcement was made by John Cummins, Member of Parliament for Delta-Richmond, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“Through Canada’s Economic Action Plan, our government is taking concrete action to help ensure our economic recovery and create the conditions for long-term growth,” said MP John Cummins. “Funding renovation and retrofit projects like this one will not only improve the quality of life of its residents by keeping their homes safe and affordable for years to come, but also help stimulate the local economy and create jobs.”

Through Canada’s Economic Action Plan, the Government of Canada announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

As of February 1, 2010, CMHC is accepting applications from eligible project sponsors for the remaining $75 million funding for year two. Sponsor groups can apply online or through the mail. Eligible repairs include general improvements, energy-efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The housing co-operatives that will receive contributions from the Government of Canada being announced today are:

“We are very excited that the Mariner Cove has been granted federal funding through Canada’s Economic Action Plan,” said Bob Christofoli on behalf of the Mariner Cove. ”The planned renovations will not only make our complex more energy efficient, but will also provide an adequate environment for the future of our complex.”

More information on this and other measures in Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

Posted by Moishe Alexander.