Affordable Housing Rental Program - NBNPHA AGM
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Affordable Housing Rental Program - NBNPHA AGM Affordable Housing Rental Program - NBNPHA AGM Presentation Transcript

  • 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 
  • 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
  • PROGRAM OVERVIEW & DETAILS
    • The Affordable Rental Housing Program began in 2003, and has been delivered in four “Phases”
    • Phase I consisted of $14.98M delivered over a 4 year period, under which a total of 406 new affordable housing units were created
    • Phase II consisted of $7.57M delivered over a 3 year period, under which 177 new affordable housing units were created
    • Phase III (Housing Trust) consisted of $17.4M delivered over a 3 year period, and created a total of 545 new units
  • PROGRAM OVERVIEW & DETAILS
    • Currently we are in the process of delivering « Phase IV », which consists of the AHI Extension and the Economic Stimulus
    • Under the AHI Extension, consisting of $4.88M, 122 new affordable housing units will be created by 2012.
    • The Economic Stimulus funding of $10.96M will create 274 new units specifically targeted to seniors and disabled clients.
  • DELIVERY STATUS UP-DATE
    • Delivery of the « Carry-over » portion of the Phase III Housing Trust has recently been completed, as of March 31, 2010. Construction is expected to be completed on all units by March 2011.
    • Under Phase IV, AHI Extension, all units have been targeted for funding, and 91 of those have been approved to date
    • Under the Economic Stimulus, all units have been targeted for funding, and 99 projects have been approved
  • Fredericton Non-profit- York Street
  • Tannery Court - Moncton
  • Saint John Non-profit - Main Street
  • Sussex Resource Centre