CMHC Extends Financial Assistance to August 2020

Date
31 March 2020

The Agency sent the notice below to all its clients on Friday, March 27, 2020.

Circumstances in Canada are changing from day to day, as the COVID-19 pandemic makes itself felt throughout our lives. For this reason, CMHC has made three decisions that affect housing co-ops.

  1. Because housing organizations are scrambling right now, along with their residents, CMHC has delayed the launch of the new rental-assistance program (FCHI-2), which was due to start on 1 April 2020 for co-ops with expiring operating agreements. The new starting date is 1 September 2020.
  1. Operating agreements (original and extended) that were about to end will now run until 31 August 2020. This means that current levels of support for co-op members will continue. It also allows more time for distracted boards to review and approve the new FCHI-2 agreements, even while practicing social distancing.
  1. Back in November 2019, CMHC was planning for the dollars required for housing assistance under the new program. Housing co-ops were asked to complete annex forms as the basis for how much rental assistance their members would need. As of now, with lay-offs and job losses, that information may be out of date. CMHC knows that more rental assistance may be needed than before and is exploring ways to help co-ops do more for their members.

The Agency will continue to keep you informed. For the latest news, follow the Agency on our social media channels for regular updates.  

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Good Vacancy Loss

Some vacancy loss is by choice, because units are being refreshed for new members. So only a loss in name. Actually an investment.