{"id":710,"date":"2014-09-17T16:53:00","date_gmt":"2014-09-17T16:53:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2014\/09\/17\/cloverdales-long-term-subsidy-from-cmhc\/"},"modified":"2015-06-01T19:40:56","modified_gmt":"2015-06-01T19:40:56","slug":"cloverdales-long-term-subsidy-from-cmhc","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2014\/09\/17\/cloverdales-long-term-subsidy-from-cmhc\/","title":{"rendered":"Cloverdale\u2019s long term subsidy from CMHC ends in October 2015"},"content":{"rendered":"

By Kevin Woodhouse<\/b>
www.thesuburban.com<\/a><\/p>\n

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. <\/p>\n

Mayor Dimitros Jim Beis told The Suburban<\/i> following the announcement last week that the cut in subsidies from the CMHC will come into effect October 2015, that \u201cthere will be major repercussions and consequences for the residents\u201d, affecting about a third of the current 3,000 tenants in Cloverdale. <\/p>\n

Karine J. Leblanc, media relations officer for SMHC, explained that funding from the agency \u201cis 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. <\/p>\n

\u201cIn the case of the Coop\u00e9rative d\u2019habitation Village Cloverdale,<\/i> the Comit\u00e9 d\u2019aide Cloverdale,<\/i> a non-profit organization, is responsible for distributing the federal assisthat funding from the agency \u201cis 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. <\/p>\n

\u201cIn the case of the Coop\u00e9rative d\u2019habitation Village Cloverdale,<\/i> the Comit\u00e9 d\u2019aide Cloverdale,<\/i> a non-profit organization, is responsible for distributing the federal assissidies, totaling more than $950,000 last year for 250 of the cooperative\u2019s residents out of 766 apartments.<\/p>\n

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. <\/p>\n

\u201cThe 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,\u201d explained Mayor Beis.
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By Kevin Woodhousewww.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<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-710","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nCloverdale\u2019s long term subsidy from CMHC ends in October 2015 - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2014\/09\/17\/cloverdales-long-term-subsidy-from-cmhc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cloverdale\u2019s long term subsidy from CMHC ends in October 2015 - Newscoverage\" \/>\n<meta property=\"og:description\" content=\"By Kevin Woodhousewww.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. 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