MONCTON (CNB) – The federal and provincial governments signed a new affordable housing agreement that will help to reduce the number of families in need of housing.

Under the agreement, both governments will invest $23.4 million for a combined investment of almost $47 million to build new homes, renovate existing affordable housing and deliver provincially-designed housing programs.

"I am pleased to work with our federal partners to reach this agreement that will see more New Brunswickers benefit from these investments," said Social Development Minister Sue Stultz, who is also minister responsible for Seniors, Housing and Community Non-Profit Organizations. "This new funding gives the province more flexibility to design and deliver housing programs that will help address our needs and improve our housing stock. Through our partnership with the federal government, we will continue to help build and strengthen communities in New Brunswick by providing quality, affordable housing options for low-income individuals, families and seniors."

The agreement comes as a result of the recently announced Investment in Affordable Housing 2011-14 Framework Agreement among the federal, provincial and territorial governments. The framework recognizes the diversity of affordable housing needs of Canadians and that a range of solutions – from existing programs to new approaches – is most effective in meeting local needs and priorities.

"The Government of Canada is proud to support an agreement that will create jobs and growth in New Brunswick," said Fisheries and Oceans Minister Keith Ashfield, who is also minister for the Atlantic Gateway. "This agreement not only recognizes the need for local solutions to housing challenges, but also acknowledges the importance of reporting on our progress, achievement and outcomes. This is a major investment that will benefit Canadians in this province."

Ashfield spoke on behalf of Diane Finley, minister of human resources and skills development Canada, and minister responsible for the Canada Mortgage and Housing Corp.

Under the new framework, provinces and territories have responsibility for the design and delivery of affordable housing programs in order to address their specific needs and priorities.

The province will use the funds to increase the supply of affordable housing through new construction; improve housing affordability through rental subsidies; improve and preserve existing housing stock occupied by low-income homeowner and rental households; and foster safe and independent living for persons with disabilities and seniors.

Both levels of government will report annually to the public regarding the investments and progress toward achieving the intended outcomes of the initiative.

The objective of the framework is to reduce the number of Canadians in need of housing by improving access to affordable housing that is sound, suitable and sustainable.

LINKS:

●    Department of Social Development (housing): www.gnb.ca/housing
●    Canada Mortgage and Housing Corp.: www.cmhc.ca/housingactionplan


09-11-11