The Canada Mortgage and Housing Corporation has committed $1.8 million as part of a co-investment fund with Bruce County Housing Corporation.
The shared goal between the two organizations is to preserve housing stock.
Bruce County Housing Corporation CEO Tina Metcalfe says “[The] funding must be used to meet the affordability, energy efficiency, and accessibility requirements as set out by the CMHC.”
The required cost-share from Bruce County is $4.2 million in capital repairs.
The agreement also includes the inclusion of retroactive projects dating back two years, meaning that projects from 2022 and 2023 were included in the application submission, meaning BCHC is contributing just over $2m toward those projects.
“An additional $1.3 million in applicable capital projects is already included within the 2024 budget, and will also apply to this contribution requirement,” she says.
The county had previously received funding through the co-investment program before, and that money went toward the new build at 529 Gary Street, better known as the Penetangore Hub, whereas this year’s funding is specifically for renewal and repair.
This year is the first time that Bruce County has been awarded co-investment funding from the CMHC for renewals and repairs.
