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CMHC Extends Financial Assistance to August 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.
- Because housing
FCHI-2 Update: First Program Agreements E-mailed
FCHI-2 is the new rental-assistance program for federally administered co-ops and non-profits, announced as part of the federal government’s National Housing Strategy. With all of Canada battling to slow the spread of COVID-19, CMHC has delayed its launch of the new program to September 1, 2020
Your Expiring Operating Agreement
Over the next few years, many housing co-operatives will see their operating agreement come to an end. This event could mean a new beginning for your co-op. You can enjoy a bright future without an operating agreement—provided you play your cards right.
Perhaps your co-op’s future includes major
FCM: Sustainable Affordable Housing Fund
On May 15, the Federation of Canadian Municipalities (FCM) launched a $300 million fund to support sustainable affordable housing. This fund will help pay for the planning and delivery of retrofits and new construction for higher energy performance.
Here’s what we know so far from FCM….
The Green
Guiding the end of your operating agreement
The Agency has developed a new information source that can guide your co-op as you navigate to the end of your CMHC agreement. The web page we’ve called Your Expiring Operating Agreement will help you chart the best course as your co-op embarks on its new chapter. Serving as an information hub, the
Chadwick Towers Prepays its Mortgage
In 2018 CMHC made an offer to a particular group of clients, which the Agency encouraged them to accept. For a limited time, S61 co-ops locked into a high interest rate could prepay their mortgages without the usual penalty. (Unfortunately, the opportunity is no longer available.) Chadwick Towers, a
Overview of Rental Assistance (FCHI-2) for S95 co-ops
Tip of the Month
Vacancy Loss
The number of Agency clients reporting vacancy losses of more than $250 per unit per year has fallen 50% since 2007. While vacancy rates are local, these numbers show good management.