On October 27, CMHC released details on the new $1 billion Rapid Housing Initiative (RHI). Details of the program include:
- $500 million will be set aside for Canada’s 15 largest cities, and $500 million will be available to other organizations, including non-profit and Indigenous housing providers, via an application process.
- Eligible expenses include land, modular housing, acquisition of new buildings, and rehabilitation/conversion costs to convert properties to affordable housing. CMHC will cover 100% of these costs under the program.
- Housing must be made available within 12 months of signing an agreement.
- Submissions under the “Projects Stream: Application Based Process” must be submitted by December 31, 2020, with all applications expected to be reviewed by January 31, 2021 and funds expected to be allocated by March 31, 2021.
More details on eligibility and how to apply are available on the CMHC website.
In the meantime, CHRA has written to the Minister responsible for housing, Ahmed Hussen, asking for an expansion of the Initiative. Specifically, CHRA is asking for:
- Increased funding over a longer timeframe
- Inclusion of supports for wraparound and other related services
- An earmark set aside for urban, rural and northern Indigenous housing providers