Government of Canada making housing more affordable in Northwest Territories

YELLOWKNIFE, NT, July 28, 2021 /CNW/ - Every Canadian deserves a safe and affordable place to call home. That's why the Governments of Canada and Northwest Territories will provide rent support to low-income residents of the Northwest Territories in need through the Canada?Northwest Territories Housing Benefit.

The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, Michael McLeod, Member of Parliament for the Northwest Territories, and the Honourable Paulie Chinna, Minister responsible for Northwest Territories Housing Corporation, announced details of a joint investment of $19.2 million to support low-income households in need through the new Canada?Northwest Territories Housing Benefit.

The Canada Housing Benefit is a National Housing Strategy program funded by the Government of Canada and cost-matched by Provinces and Territories. It is expected to provide affordability assistance to approximately 300,000 Canadian households in need, and of those households, over 500 will be located in Northwest Territories.

In addition, the CHB-NWT Housing Benefit is intended to address rental instability among certain target groups such as: seniors; persons with disabilities; youth; victims of family violence; and low-to-moderate income working families.

Quotes:

"Everyone deserves a safe and secure home. The Canada?Northwest Territories Housing Benefit is designed to give households in need a boost, and provide some added stability during these uncertain times. Over the next seven years, we estimate this funding will serve some 500 homes in communities across Northwest Territories. Without doubt, that's going to make a big impact in countless lives here in NWT. This is the National Housing Strategy at work." ? The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation

"Everyone deserves a roof over their head and a safe place to call home. Today's announcement of funding through the Canada?Northwest Territories Housing Benefit will have a huge impact on our most vulnerable citizens who are experiencing homelessness or are at risk of being homeless. The availability of affordable housing is scarce in our region. This rental supplement will make a difference in ending the cycle of homelessness. The Government of Canada's ongoing support and commitment to creating affordable housing will help improve the lives of the most vulnerable individuals and families in the Northwest Territories." ? Michael McLeod, Member of Parliament for the Northwest Territories

"Reducing the core housing need is a commitment of this government. The Canada-Northwest Territories Housing benefit is a direct to household benefit, providing a resource for low-to moderate income families and those residents who need rent stability. It is critical that we continue to look for ways to support our residents to secure safe and maintain housing stability. I am pleased that we were able to work with the Government of Canada on this initiative that is already working for NWT families." ? Paulie Chinna, Minister Responsible for the Northwest Territories Housing Corporation.

Quick facts:

• The Canada?Northwest Territories Housing Benefit will invest $19.2 million in targeted support to meet the significant housing needs of around 500 residents of the Northwest Territories with low income between 2021-22 and 2028-29.
• The Canada?Northwest Territories Benefit is part of the 7-year bilateral agreement between the governments of Canada and Northwest Territories, under the National Housing Strategy (NHS). The NHS invests a total of $155 million, cost-shared by the federal government and the Government of Northwest Territories, to protect, renew and expand social and community housing, support territory's priorities related to housing repair, construction and affordability, and provide a portable rent subsidy directly to households.
• Through the Canada?Northwest Territories Housing Benefit, qualifying households can receive monthly benefits between $200 and $800 to support their housing costs.
• CMHC supports the government's efforts to improve the well-being of Canadians facing housing and homelessness challenges caused by the COVID-19 pandemic.
• The NHS is built on strong partnerships between the federal, provincial and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need.
• All NHS investments delivered by the federal, provincial and territorial governments will respect the key principles of the NHS that support partnerships, people and communities.
• Canada's NHS is?an ambitious, 10-year plan that will invest over $72 billion to give more Canadians a place to call home.?Launched in 2017, the NHS will build and repair thousands of housing units, and help households with affordability support.

Associated links:

• National Housing Strategy
• Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience
• To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.

SOURCE Canada Mortgage and Housing Corporation