BAKER BROOK, July 6, 2006 Seniors and persons with disabilities in Baker Brook will have access to more affordable housing with the construction of a new 10 unit housing project developed by La Société d'habitation de Baker Brook. The $1 million housing project received $490,000 under the Canada New Brunswick Affordable Housing Agreement. The Honourable Greg Thompson, Minister of Veterans Affairs and Regional Minister for New Brunswick, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development, along with the Honourable Bernard Lord, Premier of New Brunswick, made the announcement today. "Canada's new Government is proud to be investing in quality affordable housing for the community of Baker Brook," Minister Thompson said. "This project shows once again our commitment towards the development of more affordable housing units in all regions of the province," Premier Lord said. "Such partnerships with non profit groups improve the quality of life for many New Brunswickers." The project received $250,000 in federal funding to offset the construction costs, as well as $240,000 in rent supplements from the Province of New Brunswick for six of the units. The promoter of the project also previously received $50,000 in Provincial Proposal Development Funding to help them proceed with the development of the project, including drawings, site plans, cost projections and other various operations. The Canada New Brunswick Affordable Housing Agreement involves investments of more than $45 million for the creation of affordable housing units in New Brunswick. For further information, please contact: Robert DuguayCommunicationsFamily and Community Services506-444-3684 Marianne MurphyMarketing and Communications ConsultantCanada Mortgage and Housing Corporation506-851-6581 Backgrounder Canada New Brunswick Affordable Housing Agreement Phase I Objectives: To create and sustain rental housing for low- to moderate-income New Brunswick households through new construction or rehabilitation. Housing must be affordable for at least 10 years. Program: Funding under this agreement will be used for a Rental Housing Program: The program will create and sustain in excess of 600 units of rental housing for low- to moderate-income households. Funding is available to private non-profits, cooperatives, community or private developers interested in developing projects for low- to moderate-income families, seniors, non-elderly singles, disabled persons and persons with special needs. Administration: The program will be administered by the New Brunswick Department of Family and Community Services. Family and Community Services is responsible for the selection of affordable housing projects. Financial Provisions: Maximum CMHC funding under the agreement is $14.98 million to be matched by the Province of New Brunswick for a total of $29.96 million. Overall average CMHC funding will not exceed $25,000 per unit. Province of New Brunswick will provide rent supplements for low- to moderate-income households who occupy their housing. Phase II Phase II of the Agreement increases the total investment under the Canada New Brunswick Affordable Housing Program Agreement by $15.14 million in funding. The Government of New Brunswick will contribute at least 50 per cent of the matching funding; up to 10 per cent may come from municipalities and other third parties. Under Phase II, funding will be: used for the Rental Housing Program in Phase I plus a new rent supplement program; targeted to urban areas with considerable housing needs; and targeted to persons on or eligible to be on a waiting list for social housing.
