Reported on May 22, 2009 from Whitehorse, Canadian Funding Corporation reviews the Government of Canada and the Yukon partnership on a joint investment to build new and renovate existing affordable housing. This investment will help create jobs, strengthen the economy, and improve the quality of life for residents of Yukon.

According to Canadian Funding Corporation, both levels of government officially signed an amendment to the Canada – Yukon Affordable Housing Program Agreement, resulting in a joint investment of $60 million over the next two years. As well, Yukon announced a series of housing projects that will benefit from this funding.

Randy Hoback, Member of Parliament for Prince Albert, Saskatchewan, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Jim Kenyon, Minister Responsible for Yukon Housing Corporation, Minister Responsible for Yukon Energy Corporation, and Minister of Economic Development, made the announcement at a signing ceremony today. Both Northwest Territories and Nunavut also signed amended agreements today.

“The Government of Canada continues to work hard to support Canadians during these challenging economic times, and has moved aggressively to ensure Canada’s Economic Action Plan is implemented rapidly,” said MP Hoback. “We are helping the most vulnerable, including seniors and persons with disabilities, access suitable, affordable housing, as well as making needed renovations to existing social housing both in Yukon and across Canada.”

“Through Canada’s Economic Action Plan, Yukon Housing Corporation will create lasting legacies for Yukoners throughout the territory,” said Jim Kenyon, Minister Responsible for Yukon Housing Corporation. “The new construction and upgrade projects will generate jobs and economic spin-offs, in addition to increasing Yukon’s social housing inventory.”

Today’s announcement includes federal funding of $51 million over two years under Canada’s Economic Action Plan as part of a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada. This includes $50 million for Northern housing, which does not require cost-sharing by the territory, as well as $1 million for programs to assist seniors and persons with disabilities and to renovate and retrofit existing social housing.

The territory will contribute a further $4 million for these initiatives, over the next two years.

These investments build upon the $1.9 billion commitment for housing and homelessness programs announced by the Government of Canada in September 2008, which extended the Affordable Housing Initiative and the renovation programs for low-income households for two years.  Today’s announcement also includes a further combined investment of more than $5 million by both levels of government for the two-year extensions to build new affordable housing and assist low-income households with needed renovations to their homes.

Overall, the federal contribution is $54 million, while the territory is contributing $6 million for the combined investment of $60 million.

Included in Yukon’s projects that will be funded through these initiatives are a 30-unit family focused development for single-parent families, and seniors’ facilities in the communities of Watson Lake, Teslin Faro, and Whitehorse. Yukon Housing Corporation will replace aging apartment buildings in Whitehorse and Dawson City, build new townhouses in Whitehorse, and undertake comprehensive repairs and upgrades of the existing social housing portfolio in 10 communities. All new construction will meet Yukon Housing Corporation’s SuperGreen Home energy standards, which are the highest-rated nationally. Many units will also feature Accommodating Home standards, to ensure a barrier-free interior and exterior living environment.

CMHC has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan. To learn more about Canada’s Economic Action Plan, visit www.actionplan.gc.ca.