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City receives help for affordable housing from CMHC
May 14, 2013 @ 1:51 PM by: Paul Gazzola

Many people who earn lower and middle incomes in Abbotsford's diverse economy face the prospect of being unable to afford homes there, and homelessness has become an increasingly visible problem. As part of a commitment to affordable housing, the City decided to cooperate with a private developer to create a demonstration project.

In the early stages of development, Canada Mortgage and Housing Corporation (CMHC) provided Seed Funding for a feasibility study as well as Proposal Development Funding of $40,000 to help develop the plans. Once the units had been built and received occupancy permits, some federal funding was provided through the Residential Rehabilitation Assistance Program (RRAP) to create 10 accessible secondary suites for seniors and people with disabilities. Homeowners also benefitted from CMHC mortgage loan insurance flexibilities.

Full Video can be found here: http://youtu.be/oI0rN1ESAYI