Housing co-ops welcome signing of Nova Scotia bilateral housing agreement
Published August 27, 2019
On August 20, 2019, the federal government and the provincial government of Nova Scotia announced that they had signed a 10-year bilateral agreement to support affordable housing.
The agreement represents a $200 million investment to “meet the specific national housing objectives and priorities, while maintaining existing housing programs that serve Nova Scotians in need.”
This agreement will invest in protecting, renewing and expanding social and community housing, supporting Nova Scotia’s priorities related to housing repair, construction and affordability. You can read about the official announcement.
Under this funding agreement, Nova Scotia is investing nearly $200 million in provincial funding over the next 10 years to meet the specific national housing objectives and priorities, while maintaining existing housing programs that serve Nova Scotians in need. To guide our efforts over the next decade, we have identified seven long-range housing outcomes:
- reduce the public housing waitlist;
- advance government’s strategic goal of Safe, Connected Communities through affordable housing;
- ensure long-term sustainability of housing;
- ensure that most vulnerable clients are served;
- increase the supply of affordable housing;
- leverage external funding; and
- achieve operational efficiency and effectiveness.
They are working to develop the first 3-year Action Plan that will describe how the joint funding under this Agreement will be invested to improve housing outcomes for our most vulnerable citizens. The details of their first action plan have not yet been finalized. However, once approved by CMHC, these details will be shared.
Don't miss out on the latest co-op news, success stories, and helpful resources for your co-op. Sign up here to receive our eNews every two weeks straight to your inbox!