Mr. Speaker, with respect to programs and spending administered by Canada Mortgage and Housing Corporation, CMHC, within the riding of Vancouver East:
Social Housing: In 2006, CMHC provided funding to 4,658 units in the riding of Vancouver East, committed under various programs administered by CMHC, which provides housing for singles and families. Of this total, there are 1,505 units benefiting from a preferential interest rate and some of these units are also benefiting from a forgivable capital contribution grant equivalent to 10% of the original project cost. The remaining 3,153 units are receiving annual funding of $9,009,241.
On June 19, 2006, CMHC signed a social housing agreement, SHA, with the Province of British Columbia. CMHC annual funding contained in the Canada-B.C. SHA is currently some $140 million. British Columbia also received in 2006 a one-time lump sum amount of $24 million for risks associated with future inflation, changes in interest rates and loan losses. The administration of these 4,658 units was transferred to the province on January 15, 2007. The amount of subsidy available in 2007 is dictated by the agreements between CMHC and the various sponsor groups and assumed by the British Columbia Housing Management Corporation pursuant to the SHA.
There may be additional units receiving on-going federal assistance under various federal-provincial programs already administered by the Province of British Columbia which are not included in the above. The province has the lead role for these units and does not report subsidies by project to CMHC. For the first nine months of the year the province had claimed federal funding of some $75 million on these programs, covering some 27,000 units across the province. Effective October 1, 2006, CMHC started to advance SHA funding for these units.
Renovation Programs: For 2006/2007, British Columbia’s allocation for CMHC’s suite of renovation programs is approximately $16.2 million. On December 19, 2006, the Government of Canada announced a $256 million, two-year extension of these renovation programs, effective April 1, 2007. The funding will help improve the quality of housing for an additional 38,000 low-income households in all regions of Canada.
Under federal renovation programs in the riding of Vancouver East, some $4,296,986 has been committed for 263 units in 2006. CMHC is unable to provide a forecast of how many units and dollars will be committed in 2007, since this will depend on the number of applications approved.
Affordable Housing Initiative/Canada-BC Affordable Housing Program Agreement: Under the $1 billion affordable housing initiative, AHI, over $130 million has been allocated to British Columbia. As of December 31, 2006, 4,432 affordable housing units had been committed or announced, representing federal funding of $126.4 million. The Province of British Columbia and others are matching federal AHI investments.
British Columbia Housing administers the Canada-British-Columbia Affordable Housing Program Agreement. According to information provided by B.C. Housing, in 2006 there has been one commitment for 92 units and representing $4,700,000 in CMHC funding under this program in the riding of Vancouver East. B.C. Housing is not required to provide forecasts of units planned by riding to CMHC, but it does report on projects approved during the year.
Housing Trusts: The 2006 budget provides for a one time investment of $1.4 billion towards helping Canadians find safe, adequate and affordable housing in all provinces and territories. This investment is being made through three housing trusts with provinces and territories to invest in affordable housing. This includes an affordable housing trust of $800 million, a northern housing trust of $300 million and a trust for off reserve aboriginal housing of $300 million. Funding for these housing trusts, which was confirmed on September 25, 2006, will be allocated over three years. B.C.'s share of this funding is $156.9 million.