New Ontario regulations a turning point for 21,000 co-operative homes
Yesterday, as part of the More Homes for Everyone plan, the Ontario government released new regulations that are a positive and important step towards creating a fair and sustainable future for 650 co-operative and non-profit communities in Ontario, protecting over 80,000 affordable homes.
Last year, the Co-operative Housing Federation of Canada launched the #FixtheFunding4Coops campaign. It called on the province to ensure that co-ops continue to receive funding for rental assistance for low-income households once their mortgage ends. The existing funding formula in the Housing Services Act threatened this funding, and the long-term viability of over 250 housing co-operatives over the next ten years. These co-ops are home to over 21,000 low- and moderate-income households. Over 60,000 non-profit homes were also at risk.
The new regulation – Ontario Regulation 241/22 – builds on the framework outlined in the Community Housing Renewal Strategy and the Protecting Tenants and Strengthening Community Housing Act. The regulations clarify that municipal Service Managers will continue to be responsible for funding rental assistance for low-income households in co-op and non-profit communities when these housing providers sign new agreements with Service Managers at the end of their mortgage.
“In the midst of a housing crisis, Ontario cannot afford to lose any of these permanently affordable homes. The regulations introduced yesterday are a turning point for 21,000 co-operative homes across the province towards ensuring that they can continue to provide good-quality homes for future generations,” said Tim Ross, Executive Director of the Co-operative Housing Federation of Canada. “We look forward to working closely with the province, Service Managers and co-ops to support the development of new agreements that protects these homes for the long-term.”
CHF Canada is the national voice of co-operative housing, representing 2,200 housing co-operatives, home to a quarter of a million people in every province and territory. Co-operative housing is a well-documented success story. For over 50 years, co-ops have provided good-quality, affordable housing owned and managed by the community members who live there.
For more information please contact: Simone Swail, Manager, Government Relations, 416.605.4432, email@example.com