Affordable Housing Rental Program - NBNPHA AGM
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Affordable Housing Rental Program - NBNPHA AGM
- 1. Federal/ProvincialAffordable Rental Housing ProgramPresentation for the New Brunswick Non-profit Housing Association’s Annual General Meeting May 8, 2010 Leanne Smith Housing & Homelessness / Logement et itinérance Social Development / Dévelopement sociale
- 2. PROGRAM OVERVIEW The ARHP provides financial assistance to non-profits, co-operatives, and for-profit groups for the construction of new affordable rental housing projects Assistance is in the form of a forgivable loan and rental subsidies, and is based on the cost of work and number of units
- 4. Phase I consisted of $14.98M delivered over a 4 year period, under which a total of 406 new affordable housing units were created
- 5. Phase II consisted of $7.57M delivered over a 3 year period, under which 177 new affordable housing units were created
- 7. Under the AHI Extension, consisting of $4.88M, 122 new affordable housing units will be created by 2012.
- 9. Under Phase IV, AHI Extension, all units have been targeted for funding, and 91 of those have been approved to date
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