Action Plan: Planning to Act! - Updated from 18 October 2021

Date
24 November 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.

Timing

CMHC’s Rental Assistance Program (FCHI-2) requires co-ops to complete an Action Plan covering their next three years. CMHC has agreed to extend the filing deadline for the first cohort of co-ops to sign a Rental Assistance Agreement. If your co-op joined the program between 1 September 2020 and 31 March 2021, the new deadline is 1 April 2022. We will let you know right away if this date should change.

If you joined the Rental Assistance Program after 31 March 2021, your first Action Plan is due twelve months after the date when you joined the program. 

The Agency is making it easier for clients to complete their Action Plan by creating an online Self Assessment questionnaire that will help your co-op decide what your plan should include. Early in 2021, both the Self Assessment and the Action Plan will be ready for you to use. We will notify your co op when we have a launch date and a schedule for webinars to introduce you to these tools. 

What to Expect

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 system 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 complete a Self Assessment together, with someone from your federation to facilitate. 

More information about the Action Plan is available here.

Risk Trend

92% of Agency clients have a Strengthening or Stable risk trend. Proof of many good decisions.