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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
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
CMHC Preservation Fund Information Sheet
Funding Your Co-op Could Qualify For
CMHC’s National Housing Co-Investment Fund hasn’t drawn great interest from Agency clients so far. In fact, it may be the most overlooked funding source in Canada for housing co-ops. We’re hoping to change that.
The fund supports building repair and renewal, as well as new construction, with
Best Practices for Capital Spending
Capital spending refers to investments in major repairs and replacements. Typically, a capital expenditure is an expense of $2,000 or more for a building or landscaping project. It does not include maintenance-related repairs or replacements or any items that are normally described as operating
Protect Your Assets
Your co-op has three main assets, although only one appears on the audited financial statements.
Your money and buildings
Protect your co-op‘s property by buying the right insurance in the right amounts. All housing co-ops need five kinds of insurance: property, loss of housing charges, public
Plan for the Future
Good planning is the secret behind a building that doesn’t look its age. Without a plan, your co-op can’t know how much you’ll need to save for major repairs. Until you know this, you don’t know what your housing charges should be.
Your plan begins with a recent building condition assessment that
Q&A on Undertaking Capital Projects
Tips for keeping your co-op cybersafe
As everything in our world becomes increasingly digital, and more business activities move online, the importance of thinking about cybersecurity grows.
And not just for big organizations. Even housing co-ops can be targets for cyber criminals.
Is this something you’ve talked about at your co-op?
Tip of the Month
Management Trend
The trend to hire management companies continues. 58% of co-ops hire management companies, compared to 28% that employ independent staff as their managers.