Mr. Speaker, I am pleased to respond to the member for Hochelaga.
I can assure her that the government shares her concern for low-income households that may be impacted by the expiry of long-term social housing operating agreements. In fact, budget 2016 addresses this very issue with significant short-term investments to preserve existing rent-geared-to-income units in social housing projects across the country.
Our government believes that new approaches are needed to improve housing outcomes for all Canadians, including those living in social housing units. This is why we have committed to consult with the provinces, territories, municipalities, indigenous people, and housing stakeholders on a national housing strategy that will identify innovative, long-term solutions to current and future housing challenges.
At the same time, we recognize that action is needed to address pressing problems in the short-term, including the potential loss of rent-geared-to-income units when operating agreements expire over the next couple of years. As well, much of the existing social housing stock requires major capital repairs and modifications.
Our government pledged during the election campaign to provide leadership in supporting affordable housing. Budget 2016 is an important step in this direction with proposed new funding of $2.3 billion over two years to give Canadians greater access to affordable housing.
As the member for Hochelaga will know, this new funding includes close to $574 million to support the renovation, and energy and water efficiency retrofit of existing social housing units. This investment will improve living conditions for thousands of households, and will also make these units more affordable to operate and maintain over time.
More to the point in regard to the member's question, budget 2016 includes measures to preserve affordability for low-income households in social housing as operating agreements expire. Up to $30 million will be provided to renew existing subsidies for all federally administered social housing projects with operating agreements expiring in the next two years.
This funding will be provided on a transitional basis until the end of March 2018. To receive assistance, housing providers will be required to maintain or increase the number of rent-geared-to-income units for low-income households.
For federally administered projects where operating agreements expire prior to April 1, 2016, funding from the investment in affordable housing can be used to provide rent subsidies or other forms of assistance. Housing providers should contact the housing agency in their jurisdiction to inquire about funding assistance.
As for social housing projects administered by the provinces and territories, budget 2016 will double federal funding for the investment in affordable housing over the next two years. This investment will be cost-matched by the provinces and territories. Combined with current funding for the IAH, this will provide just under $1 billion in federal funding that can be used to protect affordability for low-income households living in projects where operating agreements will expire before March 2018.
As I have noted, this is a transitional measure while the government consults with the provinces, territories, indigenous, and other communities on a national housing strategy.