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Canada's Economic Action Plan Creates Jobs and Improves Social Housing in Ontario

Canada's Economic Action Plan Creates Jobs and Improves Social Housing in Ontario

BELLEVILLE, ONTARIO--(Marketwire - April 19, 2010) - The Government of Canada announced today that a housing co-operative located in Belleville will receive more than $110,000, through Canada's Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made at Trent-Moira Co-operative Estates Inc. by Daryl Kramp, Member of Parliament for Prince Edward-Hastings, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

"Through Canada's Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth," said MP Kramp. "Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local jobs."

The Government of Canada, through Canada's Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

Trent-Moira Co-operative Estates Inc. will receive a contribution from the Government of Canada to upgrade safety items such as electrical breaker panels, fire doors, emergency lights, and to retrofit kitchen cabinets.

"We congratulate and thank the federal government, MP Daryl Kramp and CMHC for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents," said Ken Elliott, President of the Co-operative Housing Federation of Canada. "Today's announcement is an excellent example of stimulus funding that works towards preserving jobs, assisting the local economy, and protecting valuable affordable housing assets for Canadians."

"In the spirit of cooperation, Trent Moira Co-operative Estates will continue to strive to provide quality affordable housing to future generations," said Kevin Betts, President of Trent-Moira Co-operative Estates. "Thanks to the Government of Canada and CMHC, we are able carry out necessary repairs which will ensure our cooperative's longevity; for without the grant this work could not have been completed."

For more information on this and other measures in Canada's Economic Action Plan, the federal government's plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.






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