On Friday, @JustinTrudeau and @HonAhmedHussen launched the Housing Accelerator Fund (HAF), a $4 billion commitment from Budget 2022 intended to fast track the creation of 100,000 affordable homes in communities across Canada. cmhc-schl.gc.ca/en/professiona… #cdnpoli 1/6
Local governments can apply for HAF funding through CMHC beginning in June 2023. To be eligible, applications must include at least 7 initiatives that will result in housing creation. Incentives are built into the program to encourage the creation of affordable housing. 2/6
Though not explicitly stated, CHRA has been informed that property acquisition/rental preservation to protect or grow affordable housing stock is an eligible activity through HAF. 3/6
CHRA strongly encourages non-profit housing organizations to work with their local governments in order to have a say in their HAF applications. 4/6
We look forward to seeing affordable housing created through HAF-funded initiatives. Inclusion of rental preservation/property acquisition as an eligible activity through HAF is a welcome step as we work towards a dedicated national property acquisition program. #cdnpoli 5/6