Ontario Region media release

Budget delivers promised year-two stimulus funding for affordable housing

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March 25, 2010

(Toronto) Today’s budget, brought down by Finance Minister Dwight Duncan, committed $659 million in federal-provincial funding to build new affordable housing and renovate Ontario’s aging social housing stock. “This funding, announced in last year’s provincial budget, is welcome and significant,” says Dale Reagan, Managing Director of the Ontario Region of the Co-operative Housing Federation of Canada. “We’re pleased that the Province isn’t pulling back on its promise in the face of a record budget deficit.”

Reagan adds, “We are hoping though that this is the last year that the government will be announcing one-time, short-term funding for affordable housing. The Province will be releasing its Long-Term Affordable Housing Strategy later in the spring and, along with other housing advocates, we’re calling on them to build the Strategy around a multi-year funding commitment that recognizes affordable housing as an essential, core government program.”

In the budget speech, the Minister reported that Ontario will run big budget deficits for 7 more years. CHF Canada says that spending on affordable housing will not only help the government to deliver on its promise to reduce poverty but should be seen as a key part of its economic recovery plan. “Affordable housing construction has a large multiplier effect and will provide significant economic stimulus,” says Reagan. “It creates well-paying jobs, uses local materials and at the end of the day, contributes a very valuable public asset for the long term. The lack of housing that the workforce can afford, particularly in growing urban centres, is a serious roadblock to growth and investment.”

In December 2009, the Provincial Auditor reported that waiting lists for assisted housing in Ontario have swelled to over 137,000 households and one-in-five Ontario renter households are still spending more than half their income on housing.

Amanda Yetman, President of CHF Canada’s Ontario Council, expressed disappointment that there was no reference in the budget to the Affordable Housing Strategy and no assurance of funding for housing beyond this year. She called on Queen’s Park “to move forward without delay and deliver the promised long-term plan and to commit to stable, program funding over the next 10 years.”

The Co-operative Housing Federation of Canada’s Ontario Region represents and serves over 500 housing co-ops in the province, home to some 125,000 Ontarians.

For more information contact:

Harvey Cooper, Manager of Government Relations

416-366-1711, ext. 237 or 416-809-5048 (cell)

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