Released on September 15, 2005
Ten Moose Jaw families will have a chance to own their own homes this year, thanks to a $300,000 investment from the provincial government and City of Moose Jaw.The funding is through the Neighbourhood Home Ownership Program (NHOP), which was established seven years ago to help low- to modest-income families acquire affordable homes in inner city neighbourhoods.
"We're delighted to be able to help 10 families purchase homes in Moose Jaw through the Neighbourhood Home Ownership Program," Community Resources and Employment Minister Joanne Crofford said. "Through the Saskatchewan Housing Corporation's partnership with the City, we're helping to make the dream of affordable housing a reality for more Saskatchewan families. This is an excellent fit with HomeFirst – creating more housing choices for people in this province."
Qualifying families form co-operatives to purchase the homes with a forgivable equity loan, funded by the Province and the City, equal to 25 to 35 per cent of the approved housing cost, depending upon family size and income. The Prairie Lily Housing Co-operative Ltd. is the third co-operative to be formed in Moose Jaw, and brings the total of 30 houses purchased in the city.
"This program is an excellent example of what can be achieved by working with people," Moose Jaw Mayor Al Schwinghamer said. "It revitalizes older neighbourhoods. It provides opportunity for home ownership. It creates viable neighbourhoods. Congratulations to all involved."
After five years as a co-operative member, families may assume ownership of their homes from the co-op. The neighbourhood development organization Connecting as Neighbours Co-operative is working with the families to purchase and renovate the homes, as well as develop the new co-operative.
"Working with existing housing co-operatives has been our privilege," Connecting as Neighbours Executive Director Robert Fortier said. "It is very rewarding to witness the positive impact home ownership has on families. Our organization administers the program for Saskatchewan Housing Corporation; however it is the families who make the program work. It will be a challenge to purchase 10 homes that fall within the $48,000 basic price for a two-bedroom home, but we are optimistic that 10 Moose Jaw families will make the transition from renting a house to home ownership."
Since 1997, over 280 homes have been purchased through NHOP across Saskatchewan, helping to rejuvenate inner-city neighbourhoods in Regina, Saskatoon, Moose Jaw and Prince Albert.
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For More Information, Contact:
| Debbie Clark Community Resources and Employment Regina Phone: (306)787-8689 | Margaret Moran Connecting as Neighbours Moose Jaw Phone: (306)691-5226 |