On June 13, CHRA held a consultation with members to discuss ways to improve the $13 billion National Housing Co-Investment Fund and the $25 billion Rental Construction Financing Initiative (RCFI). This consultation was motivated in part by the announcement in the 2022 federal Budget that CMHC would review these programs with the goal of making them more efficient and relevant to the objective of increasing the supply of affordable housing.
Following that consultation, CHRA has forwarded a letter to Federal Minister for Housing and Diversity and Inclusion Ahmed Hussen and CMHC containing recommendations for reforming both programs. We thank all CHRA members who joined our consultation session to provide their feedback. We will share any additional information regarding these two programs as it becomes available.