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WORK BEGINS TODAY ON $4 MILLION AFFORDABLE HOUSING PROJECT

Released on August 25, 2009

Work begins today on construction of a new 26 unit housing complex in Prince Albert for low income families.

"The Government of Canada is committed to making affordable housing available in Saskatchewan and across Canada for those who need it most," said Randy Hoback, Member of Parliament for Prince Albert, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). "Through this investment we are stimulating the local economy and creating jobs. We are also making an important difference in the lives of individuals and families in Prince Albert who are working towards building a stronger and better future for themselves."

"This is another clear demonstration of how the Government of Saskatchewan is working hard to make a better life for everyone in Saskatchewan," Prince Albert Carlton MLA Darryl Hickie said, on behalf of Social Services Minister and Minister Responsible for Saskatchewan Housing Corporation Donna Harpauer. "This is an exciting development for Prince Albert citizens, and we are pleased to work together with the federal government and other community partners to help bring this project to fruition."

The project will be built on two separate parcels of land-one featuring an 18 unit row housing building, with two four-plexes at the other location. The developer is Prince Albert Community Housing (PACH) Inc., a non-profit corporation.

The estimated total cost of the project is $4 million. PACH was approved for $2.8 million under the Rental Development Program, which is funded under the Canada - Saskatchewan Affordable Housing Program Agreement and is cost-shared equally by the federal and provincial governments. The remaining funds will be provided by PACH in the form of mortgage/investment financing and owner's equity.

In May, both levels of government officially signed an amendment to the Canada - Saskatchewan Affordable Housing Program Agreement and an extension to the Canada - Saskatchewan Housing Renovation Program Agreement, resulting in a joint investment of more than $161 million over the next two years.

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For more information, contact:

Kim Jones
Canada Mortgage and Housing Corporation
Calgary
Phone: 403-515-3048

Linda Saliken
Social Services
Regina
Phone: 306-787-0246

 

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