Canada-Alberta Agreement for Investment in Affordable Housing 2014-19
The Governments of Canada and Alberta will provide a combined funding investment of some $202 million over five years, to help more individuals and families in housing need. The funding will be delivered through an extension to the Investment in Affordable Housing (IAH) agreement to 2019.
Under the renewed five-year agreement, the federal government provides approximately $20 million each year for a total investment of about $100 million. The Alberta government must match the federal funding to:
- increase the supply of affordable housing;
- improve housing affordability for vulnerable Canadians;
- improve or maintain the quality of affordable housing; or
- foster safe and independent living.
Under the Investment in Affordable Housing Agreement, the Province of Alberta has the flexibility to design and deliver a range of affordable housing programs to address local housing needs and priorities. The Province of Alberta's priorities for this funding will include adding new housing supply as well as the regeneration of the seniors' lodge portfolio.
2011-12 Canada-Alberta Agreement Highlights
Under the Capital Initiative Program, the Alberta government invested more than $120 million, including $20 million in federal funding, to support the development of 1,212 affordable housing units. 408 of these units are cost shared under the Canada-Alberta Agreement.
2012-13 Canada-Alberta Agreement Highlights
Rural Seniors' Lodges
All 2012-13 federal and provincial matching funds ($40 million) were targeted to the housing needs of low-income seniors in rural communities. As a result of this funding, a total of 51 units will be renovated, and 155 new units will be added to these provincially owned lodges
Funding for renovations and additions went to the following rural senior's lodges.
Wildrose Villa (Boyle) $8.8 million
Rosealta Lodge (Camrose) $9.6 million
Bow River Lodge (Canmore) $8.5 million
Shangri-La Lodge (Drayton Valley) $1.2 million
Big Knife Lodge (Forestburg) $7.2 million
Prairie Rose Lodge (Milk River) $4.8 million
Victims of Domestic Violence
The Alberta government also provided $778,000 for the 30-unit Our Home Next Door project for women and children fleeing domestic violence. The Alberta government contributed $588,000, and the federal government contributed $190,000.
Full Report: 2012-13 Canada-Alberta Agreement