The Canada Mortgage and Housing Corporation has announced a $1 billion Rapid Housing Initiative.
It is a grant designed to pay 100 per cent of capital financing for affordable and supportive housing in all provinces and territories. The deadline to apply for the initiative is December 31.
Projects on reserve, in the north, in remote communities and projects where seasonality is a factor for construction may be provided flexibility to the construction deadline.
Indigenous governing bodies can partner with a non-profit developer to meet the application and build deadlines. To launch the initiative there are three stages, In-principle partnership agreement between the Indigenous governing body and non-profit developer, subject-to land purchase contract for the proposed housing project and a general agreement to the proposed design of the project.
For more information you can go to the Canada Mortgage and Housing Corporation’s website.
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