Q&A on Underfunded Reserves
Agency for Co-operative Housing
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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
Province of BC Provides $2 Million to Assist Low-Income Co-op Households
Date
5 December 2016
Up to 300 low-income co-op households will benefit from the BC government’s $2 million in assistance to make their homes more affordable. This funding will bridge the shortfall resulting from expired federal operating agreements.
The provincial funding is intended to support co-ops whose federal
Prepayment of Long Term Non Renewable Loans with CMHC
Date
25 July 2016
On June 11th, 2016, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced that the Government is providing $150 million over four years to allow co-operatives and non-profit social
2018 Utility Allowances for Alberta
Date
27 February 2018
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2018 utility allowances for Alberta.
2018 Utility Allowances for BC
Date
1 January 2018
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2018 utility allowances for BC.
2018 Utility Allowances for Ontario
Date
1 January 2018
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2018 utility allowances for Ontario.
2018 Utility Allowances for Prince Edward Island
Date
25 April 2018
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2018 utility allowances for Prince Edward Island.
A Membership that Truly Understands
Date
29 February 2016
We’ve learnt from your feedback that many co-ops are not sharing their Plain-Language Financials with their members. Because the Agency introduced this service to help members get a better grasp of their co-op’s statements, we asked why. The answers varied. Some boards just haven’t thought of it
A New Approach to Subsidy Repayment
Date
29 February 2016
S95 co-ops are well aware that their Subsidy Surplus Reserve is not allowed to grow beyond $500 per unit plus interest. Anything more than that must be paid back to Canada Mortgage and Housing Corporation (CMHC). Our clients are busy and some find the refund process something of a nuisance. This is
Tip of the Month
Falling Risk
51% of Agency clients are now rated Low or Moderate risk, up from 39% in 2007.