By Kevin Woodhouse
www.thesuburban.com
After the borough of Pierrefonds-Roxboro found out that the Village Cloverdale Housing Cooperative would no longer be receiving subsidies from the Canada Mortgage and Housing Corporation (CMHC), council is seeking help from the federal agency.
Mayor Dimitros Jim Beis told The Suburban following the announcement last week that the cut in subsidies from the CMHC will come into effect October 2015, that “there will be major repercussions and consequences for the residents”, affecting about a third of the current 3,000 tenants in Cloverdale.
Karine J. Leblanc, media relations officer for SMHC, explained that funding from the agency “is provided under long-term agreements, which cover a period of 25-50 years, to housing groups, which in turn provide affordable housing to those in need.
“In the case of the Coopérative d’habitation Village Cloverdale, the Comité d’aide Cloverdale, a non-profit organization, is responsible for distributing the federal assisthat funding from the agency “is provided under long-term agreements, which cover a period of 25 to 50 years, to housing groups, which in turn provide affordable housing to those in need.
“In the case of the Coopérative d’habitation Village Cloverdale, the Comité d’aide Cloverdale, a non-profit organization, is responsible for distributing the federal assissidies, totaling more than $950,000 last year for 250 of the cooperative’s residents out of 766 apartments.
Currently, more than half of the tenants spend more than 30 percent of their total income to cover their rental fees, many of whom are single parent families.
“The end of the subsidy given by Canada Mortgage and Housing Corporation will endanger not only the future of our citizens but also the Borough efforts in term of social development,” explained Mayor Beis.
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