Action Plan: Planning to Act!

Date
12 October 2021

“Failing to plan means planning to fail.” We’ve all heard someone say that. Planning is hard, important work, but it’s just got easier owing to some help from the Agency.

CMHC’s Rental Assistance Program (FCHI-2) requires co-ops to complete an Action Plan covering their next three years. In most cases, the first Action Plan is due twelve months after a co-op joins the program. However, CMHC has agreed to extend the filing deadline for the first cohort of co-ops to sign a Rental Assistance Agreement. The new deadline is six full months after the Agency’s end-of-2021 launch of our system for filing Action Plans online. 

For example, the launch of our online system on 15 December 2021 would give co-ops that joined the program by the end of December 2020, or earlier, until 30 June 2022 to file their plan with the Agency.  Please check with your rental-assistance officer if you’re not sure when your plan is due.

The Agency has made it easier for clients to complete an Action Plan by creating an online Self Assessment questionnaire that will help your co-op decide what your plan should include. By asking questions with multiple-choice answers, the Self Assessment helps you set goals for your co op in

  • governance 
  • social inclusion 
  • financial viability and
  • asset management

Sustainability is another area where you may decide that your co-op would like to work toward some changes.

After you’ve answered all the self-assessment questions, you’ll have a clear understanding of your co-op’s needs. The program will then slide you smoothly into the online form where you can take a last look at your answers before finalizing them in your Action Plan. 

Although the Action Plan is required, the Self Assessment is not. It’s just meant to simplify your work. If you wish, you can go straight to the Action Plan and skip the self Assessment.

If your board holds an annual planning session, the directors may want to take the opportunity to complete a Self Assessment together, perhaps with someone from your federation to facilitate. 

More information about the Action Plan is available here.

Plans in Action

The average co-op with an approved capital replacement plan tucks away more than $2,700 per unit in reserves each year--almost double the 2007 amount of $1,165. Future generations of co-op members thank you.