Released on June 22, 2007
More people in northern Saskatchewan will be eligible for affordable rental housing thanks to the introduction of a new initiative, the HomeFirst Rental Development Program, and an increase to maximum income limits (MILs) established by the Saskatchewan Housing Corporation.
"Today's announcement is about creating more safe, affordable rental housing opportunities for low- to moderate-income families and youth at risk," Community Resources Minister and Minister responsible for Saskatchewan Housing Corporation Kevin Yates said. "This is one of the key priorities of HomeFirst, our affordable housing strategy, and a cornerstone of our government's commitment to making life better for Saskatchewan residents."
The HomeFirst Rental Development Program was developed as a response to the objectives outlined in the Premier's $100 million community revitalization initiative announced in February 2007. The HomeFirst Rental Development Program will provide one-time financial assistance to increase the supply of affordable housing for low- to moderate-income households.
For new construction, assistance will be in the form of a forgivable loan of up to $96,000 per unit. For acquisition and renovation, assistance will be in the form of a forgivable loan of up to $77,000 per unit. Priority will be given to families with children, youth at risk, persons with disabilities, and First Nations and Métis families and seniors. Priority geographic areas include inner city and mature neighbourhoods and northern communities. All projects that receive funding must be targeted to households with an annual gross household income at or below the MILs established by Saskatchewan Housing Corporation.
Saskatchewan Housing Corporation's MILs determine eligibility for its affordable housing programs. The increase in the MILs is in direct response to changing market circumstances, most notably rising housing costs. For a family in the northern market communities of La Ronge, Air Ronge, Denare Beach and Creighton, the MIL will increase from $44,500 to $52,000. Single/couple households in these communities will have an increased MIL from $41,000 to $44,500. The MIL in remote northern communities for a family will remain at $62,000, and for single/couple households will increase from $51,000 to $54,000. The revised MILs are effective July 1, 2007.
Applicants need to contact Saskatchewan Housing Corporation at 1-800-667-7567.
-30-
For more information, contact:
Linda Saliken
Community Resources
Regina
Phone: 306-787-0246
Email: lsaliken@cr.gov.sk.ca