In October 2020, the Federal Government launched a new Rapid Housing Initiative (RHI) that invests $1 billion dollars to create up to 3,000 new permanent, affordable housing units across Canada.
This RHI covers the construction of modular housing, as well as the acquisition of land, and the conversion of existing buildings into affordable housing options. The funding is much needed and will help municipalities address urgent housing needs for those who are vulnerable. To learn more, see here.
The RHI covers the costs, including the acquisition of land, associated with:
- construction of modular housing;
- the conversion of non-residential to residential; and
- the renovation of uninhabitable buildings to become habitable.
This initiative will be delivered through two funding streams:
Major Cities Stream: which will flow directly to municipalities to ensure funds are directed to areas where chronic homelessness is most prevalent and;
Projects Stream: which will prioritize applications received from Provinces, Territories, municipalities, Indigenous governing bodies and organizations and non-profits based on the overall strength of the application.
As part of the Major Cities funding stream, the Halifax Regional Municipality has been identified for immediate funding of $8,659,527 to create a minimum of 28 units of new permanent affordable housing. To secure this funding, an agreement must be signed between Halifax Regional Municipality (municipality) and Canada Mortgage and Housing Corporation before November 27, 2020. An investment plan outlining the capital projects that will be built must be submitted. It is anticipated a list of projects will be brought forward to Regional Council in mid-November 2020 for consideration.
The municipality is also working with partners to identify projects for the Project Stream; the application window for this stream will close on December 31, 2020.
Municipal staff have reached out to affordable housing providers to identify partners and establish projects that could benefit from this new funding initiative. The municipality will need to partner with a not-for-profit or registered charity that is an established housing provider to deliver the housing.
The municipality has evaluated the Expressions of Interest and has selected the following projects for submission to CMHC: Mi’kmaq Native Friendship Centre, Adsum Women and Children and the North End Community Health Association for a total of 52 units/rooms. See the report here.
The recommendations will be passed along to CMHC for final review and approval.
Questions can be directed to Jillian MacLellan at 902-717-3167 or email@example.com.