The federal government and New Brunswick government signed a 10-year agreement on Thursday, formalizing the investment of nearly $300 million into community housing efforts in New Brunswick.
The Honorable Dominic LeBlanc, Minister of Fisheries, Oceans and the Canadian Coast Guard, and the Honourable Cathy Rogers, Minister of Finance, led the bilateral agreement under the National Housing Strategy (NHS). This arrangement, which will be cost-shared by the governments of Canada and New Brunswick, is a testament to both parties’ commitment in providing and improving affordable housing.
The ministers appeared on behalf of the Honourable Jean-Yves Duclos, Canada's Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and the Honourable Stephen Horsman, Minister of Families and Children, respectively.
"This new agreement with our federal partners will allow our governments to make a significant investment into New Brunswick's housing portfolio – from bricks and mortar to programs – in order to ensure our most vulnerable populations have safe, affordable and adequate housing options for years to come," Rogers said.
The decade-long agreement will inject $300 million to protect, renew and expand social and community housing, and support New Brunswick's growth plans related to housing repair, construction, and affordability. The federal government and the provincial government will partner in designing and implementing a new Canada Housing Benefit for the province. These initiatives will offer affordability and support straight to families and individuals in housing need.
This progressive housing agreement, set to commence on April 1, 2019, recognizes the significance of being able to reach out to people most in need. The $299.2 million cost-shared fund is allocated on top of the $147 million plus previously planned federal housing investments in New Brunswick via the Social Housing Agreement (SHA) within the next 10 years.