The Rental Assistance Program (FCHI-2), administered by the Agency on behalf of CMHC, is a federal initiative designed to support housing co-operatives whose operating agreements have expired. Its main goal is to bridge the gap between market-level occupancy charges and the geared-to-income charges for low-income households, ensuring they pay no more than 25 to 30% of their income on housing.
Eligible co-ops receive funding based on household needs and must verify incomes annually, submit action plans, and maintain financial accountability. The program also includes provisions to prevent overhousing, ensure fair treatment of assisted households, and uphold transparency and proper management practices.
The Agency has developed many resources to help co-ops manage administration, as well as an overview for co-ops to understand their obligations and responsibilities under the program.