Paulie Chinna: National Housing Co-Investment Fund

Ministers' Statements and Speeches

Yellowknife — October 28, 2020

Check against delivery 

 

Mr. Speaker, it has always been my belief that partnership between our communities, the Government of the Northwest Territories and other levels of government are the key to increasing affordable housing in the Northwest Territories.  Through the National Housing Co-investment Fund, we have an opportunity to make this a reality.

The Co-Investment Fund has the potential to bring significant investments into communities across the NWT, working in partnership with all levels of governments, private market investors and non-governmental organizations.  

Working with the federal government to improve the program for the NWT is ongoing.  Although, we have had a number of successes including the dedicated “carve off” of $60 million under the fund for the NWT, there is still more work that needs to be done to ensure that this funding works for the NWT. We have heard that applications can take a long time and that the process can be onerous for northern applicants. In both 2019 and 2020 the NWT Housing Corporation met and worked with the federal government to discuss identified problems with the National Housing Co-investment Fund and to seek clarity around easing the restrictive process of making applications under the fund.

Mr. Speaker, achieving the goals of the national housing strategy will only be realized once applicants can successfully access these funds. The number of applications coming into the Canada Mortgage and Housing Corporation is increasing, and we are hearing more and more interest from community partners.

The NWTHC is continuing to support the implementation of this federal program throughout the NWT. We are conducting joint presentations with CMHC at the community level, and the NWTHC and CMHC have formed a joint review committee for the program which will work to ensure applications are handled in a timely manner. The NWTHC also assists the CMHC by taking a “no wrong door approach”, fielding introductory questions by stakeholders, providing an overview of the process and funneling proponents to CMHC specialists.

Additionally, we recognize that the proposal and application approach of the National Housing Co-investment Fund is a barrier for smaller entities in the NWT that face challenges due to limited proposal development capacity. As such, we have also created a community engagement advisor position to promote and market the program, assist developers with applications, and help communities clarify and develop project ideas.

The territorial government, through the NWTHC has the potential to be a primary partner in many Co-Investment Fund projects with the CMHC, and other housing stakeholders. 
This could include partnership in Co-Investment projects through access to NWTHC’s Community Housing Support Initiative.

However, the NWTHC is not required by CMHC to commit upfront 25% of the project costs without first having an opportunity to review a developed business case and resourcing plan that has fully vetted all possible sources of funding.  For example, a proponent’s application could have them accessing up to 95% federal financial assistance through a combination of both low-cost financing and grant, or additional partner contributions.  Maximizing federal partnership and other partners’ contributions is critical to ensure that GNWT funds can be leveraged across numerous projects.

Mr. Speaker, we are also making progress on the community housing plans. As we get further into the completion of those plans, we will be identifying opportunities for investment.  This will help with the creation of the business plans and needs assessments that will assist in the selection of projects under the Co-Investment Fund.

This is the future of suitable, adequate and affordable housing in the NWT.  With our limited resources we cannot do this alone. The National Housing Co-investment Fund allows for community-led, responsive housing development that will meet the needs of northerners. I encourage all interested partners to reach out the NWTHC and CMHC,
and I look forward to seeing all the new applications come in.

Thank you, Mr. Speaker.