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Logo of the Co-operative Housing Federation of Canada (CHF Canada), featuring a stylized blue house icon and organization name in blue text on a light background, reflecting its commitment to co-operative housing. Logo of the Co-operative Housing Federation of Canada (CHF Canada), featuring a stylized blue house icon and organization name in blue text on a light background, reflecting its commitment to co-operative housing.
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Resolution

Resolution 2: Kickstarting a Co-operative Pre-development Loan Fund

WE RESOLVE:

  1. THAT CHF Canada members support the creation of a Co-operative Pre-development Loan Fund through an investment of up to $5 million from CHF Canada’s Pooled Investment Funds;
  2. THAT CHF Canada’s National Members support an investment of up to $2.5 million from the National Endowment Fund;
  3. AND THAT CHF Canada’s Ontario Members support an investment of up to $2.5 million from the Ontario Endowment Fund.

 

OUR REASONS FOR THIS RESOLUTION ARE:

  1. The Co-operative Housing Development Program has enabled CHF Canada to identify a large pipeline of co-operative housing development projects, aligned with the sector’s vision of Co-op Housing for All.
  2. Many projects need access to pre-development financing in order to qualify for construction funding. The pre-development phase is the period before construction begins, it involves significant planning and design work. Government programs for pre-development funding are limited or have ended. For this reason, CHF Canada’s strategic plan includes an objective to kickstart predevelopment funding so that we can unlock good projects and grow the sector.
  3. We commissioned a feasibility study on how CHF Canada could redirect a portion of its pooled investments to kickstart a pre-development loan fund. CHF Canada’s investments have grown significantly in recent years, and analysis shows that $5 million can be allocated from endowment funds to initiate a pre-development loan fund without unduly impacting operations, the shared revenue program or investment appreciation. CHF Canada is in a strong financial position with over $32.8 million in Assets and $25.48 million in Long Term Investments as of December 31, 2025.
  4. The board and management have overseen a business plan for the Fund design and administration. Investment decisions will be overseen by an independent investment committee and administered by competent Fund managers. Funds provided through a pre-development loan fund would be repayable at a risk-adjusted rate of return, and it would operate on a revolving basis.
  5. CHF Canada will continue to advocate for robust government investment in non-profit co-operative housing development. The Pre-Development Loan Fund is expected to attract co-investors and unlock significant funding opportunities to develop co-operative homes. Estimates indicate CHF Canada’s Investment can, over time, unlock $30-90 million in co-investments into a larger Co-operative Pre-development Loan Fund. This could unlock approximately $750 million to $3 billion in total financing to deliver between 1,500-6,000 new co-operative homes.
  6. In accordance with member policies, the Board of Directors requires member approval to approve an allocation from the National and Ontario Endowment Funds for this purpose.
  7. Housing co-operatives in Ontario and across Canada contributed sector support payments under a number of government sponsored co-operative development programs to funds created by the Co-operative Housing Federation of Canada and the Co-operative Housing Association of Ontario. The Co-operative Housing Federation of Canada merged with the Co-operative Housing Association of Ontario in 1996. Funds raised from sector support payments from both organizations were placed into National and Ontario Endowment Funds. These Funds support programs, services and strategic initiatives enjoyed by CHF Canada members, including a Shared Revenue Program to support service delivery by eligible Regional Federations.
  8. In 2018, members supported a $1 million investment from the National Endowment Fund to increase sector development capacity. This initiative was critical in establishing the organizational capacity needed to secure the $1.5 billion Co-operative Housing Development Program.

 

WE THINK THAT THIS WILL COST:

The cost of the Pre-Development Loan Fund is $5 million, sourced from the National and Ontario endowment funds. Operating costs for the start-up and administration of the Fund will be paid through CHF Canada operating budgets in early years. As the Fund grows to a critical mass, Fund management costs can be internalized to the Fund.

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