P.E.I.-Ottawa announce plan to 'protect housing subsidies'
P.E.I. and the federal government announced an agreement Wednesday for affordable housing repair and construction on Prince Edward Island.
The agreement is worth $15 million over 10 years, with the costs shared equally between the province and Ottawa. It falls under the federal government's National Housing Strategy.
Premier Wade MacLauchlan said the money will help fund the rent supplement program the province has already announced as well as help with repairs of rent-subsidized buildings owned by the province.
MacLauchlan said "stay tuned" when it comes to actual construction of new affordable housing buildings.
"This bilateral agreement opens up the possibility," he said. "I think we'll have to just wait and see when things are ready to be announced,"
'Locked in support'
Adam Vaughan, Parliamentary Secretary to Minister of Families, Children and Social Development described the agreement as a full housing approach.
"It locks in our support for operating agreements. It locks in a capital program for both repair and new construction and it also provides a pathway forward for rent supplements," Vaughn said.
He said a lot of operating agreements across Canada have expired over the last five years. He added the subsidy and repair programs need to have more long term security so people don't lose their housing.
"This is going to protect housing subsidies," he said.
The strategy aims for a 15 per cent increase in new affordable housing units across the country. Specifically on P.E.I., the agreement sets the goal of preserving at least 936 "existing community housing units."
"It is imperative that we continue to work to provide Islanders with secure and affordable housing in as timely a manner as possible," said Premier Wade MacLauchlan in a news release.
"It is getting better," he said.
The premier said the province is working with municipalities and other organizations to respond.
P.E.I. had record low vacancy rates in 2018, with a vacancy rate of zero for larger apartments.
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