County of Lanark Gets $1.3 Million Boost for Affordable Housing
COUNTY OF LANARK - The Government of Canada and the Government of Ontario today announced more than $1.3 million in funding for affordable housing in the Town of Perth and Lanark County. The funding will help create 15 new affordable rental units and help 46 renter households enter the housing market through interest-free down-payment assistance loans.
The announcement was made by Gary Schellenberger, Member of Parliament for Perth - Wellington, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Jim Watson, Ontario's Minister of Municipal Affairs and Housing.
"The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most," said MP Schellenberger. "Through this investment we are making an important difference in the lives of seniors and individuals with special needs in the Town of Perth and Lanark County who are working towards building a stronger and better future for themselves."
"Through this allocation to Lanark County, the McGuinty government is renewing its commitment to work with our housing partners to grow the supply of affordable housing," said Minister Watson.
The $1.3 million allocation includes $1.05 million for a 15-unit project in Perth. The project is sponsored by 6432581 Canada Inc., and the units will be occupied by seniors and individuals with special needs.
The allocation also includes $297,500 in down-payment assistance for 46 households in Lanark County.
The Canada - Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for 20,000 households in Ontario. Under the AHP, every region in Ontario has been allocated a specific amount of funding to assist low to moderate-income rental households to purchase affordable homes through interest-free down-payment assistance loans.