Recently, non-repayable contributions (grants) available through the National Housing Co-Investment Fund (NHCF) have been capped at $25,000 per unit when paired with loans. With higher interest and inflation, this significant reduction is happening at a time when more grant funding is needed, not less.

While we understand that this this reduction in non-repayable contributions is because CMHC was forced to allocate more funding to save projects already underway when inflation and higher interest rates put those projects at risk, this cap jeopardizes the viability of future projects, and ultimately jeopardizes the goals of the National Housing Strategy.

Last week, CHRA submitted a letter to the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, urging him to work with the Minister of Finance to provide emergency funding to increase the availability of non-repayable contributions available through NHCF, and to work towards an increased funding envelope through the 2023 Federal Budget.

Read the letter.