Subscribe to our RSS feed
Find us on Facebook
Follow us on TwitterThe evening of December 16, 2014 marked another in a series of meetings organized by the Co‑operative Housing Federation of Toronto and CHF Canada to discuss the pressing issue of the end of operating agreements for many co‑operative and non‑profit housing providers. In the GTA alone, 14 co-ops will reach the end of their operating agreements in the next two years. Continue reading “End of co-op operating agreements: leaders press for continued funding”
Posts Tagged ‘End of co-op operating agreements’
End of co-op operating agreements: leaders press for continued funding
December 17th, 2014 by Celia ChandlerExpiring co-op housing operating agreements: An opportunity for housing innovation
September 25th, 2014 by Celia ChandlerCanada Mortgage and Housing Corporation’s (CMHC) operating agreements with non‑profit housing co‑operatives and rental housing providers have begun to expire across Canada at a rapid rate. These agreements with their related mortgages, entered into under various federal programs between 1970 and 1994, supply housing providers with between 25 and 40 years of annual subsidy money to provide reduced monthly charges to a specified percentage of tenants and members who qualify for support. With the conclusion of these agreements and their related mortgages, housing providers will cease making mortgage payments, but at the same time, they will no longer receive housing subsidy payments — payments that subsidize some 200,000 households in Canada comprising half a million people. While not all subsidized housing providers in Canada get their subsidies through CMHC operating agreements, the potential loss is a big blow to the sector. This, on top of an already serious affordable housing shortage, is cause for concern.
Client Profile: Mondragon Co-operative Homes Inc.
March 20th, 2014 by Iler CampbellMondragon Co-operative Homes Inc. is a housing co-operative located in Brampton, Ontario which has been providing affordable housing since 1983. Mondragon consists of seventy eight townhouse units ranging in size from one to four bedroom units in a beautifully landscaped neighbourhood complete with a park and community room.
Our relationship with Mondragon goes back to 2007 and in that time we have dealt with a number of corporate and member issues. Our relationship has strengthened however in the last few months. Starting in 2011, Mondragon volunteered to participate in a pilot program with Co-operative Housing Federation of Canada and Alterna Credit Union with the support of its property management company, Homestarts, to refinance its existing mortgage with CMHC to provide funding for repair and upgrades to its building envelopes (foundation walls, siding, insulation, doors, windows and roofs) as well as to its furnaces and walkways. Continue reading “Client Profile: Mondragon Co-operative Homes Inc.”
