Future CMHC funding in question

Funding could dry up for national program

Vince Jandirsch, owner of the former Post and Lantern which he’s hoping to convert into affordable housing with a $928,000 loan from the Canada Mortgage and Housing Corporation (CMHC), said he’s heard rumours of funding troubles.

Jandirsch said his CMHC contacts have assured him his funding is secure, but they are overdue for their annual federal funding for new projects and he was told if the current proposal doesn’t go through there won’t likely be any more money available at another time.

Re-elected MP James Lunney said that while they did tighten up the requirements for home owners to avoid people who can’t afford homes from getting them, which led to the U.S. meltdown, they do still support CMHC.

He said the Conservative government has put a lot into CMHC. Nobody at CMHC would comment.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

PQBeat Podcast: Ed Mayne talks COVID-19, potential pool for Parksville

Mayor returns to ‘PQB News’ studios to detail summer plans

B.C. Supreme Court dismisses claim against Island Corridor Foundation

Snaw-Naw-As (Nanoose) First Nation was seeking return of reserve land as railway sits unused

Consultant presents two options for Ravensong pool expansion project in Qualicum Beach

RDN committee defers decision until more information available on Parksville pool plans

VIDEO: Musqueam Chief captures captivating footage of bald eagle catching meal

‘This is why we have chosen to live here since time immemorial,’ Chief Wayne Sparrow’s nephew says

Nanaimo RCMP ask for help finding missing 19-year-old

Haley Murphy has not been seen since Tuesday, June 30, say police

Police ramp up efforts to get impaired drivers off B.C. roads this summer

July is dedicated to the Summer CounterAttack Impaired Driving Campaign

Migrant workers stage multi-city action for full status amid COVID-19 risks

‘COVID-19 has exacerbated an existing crisis’

Okanagan school drops ‘Rebels’ sports team name, citing links with U.S. Civil War

Name and formerly-used images “fly in the face” of the district’s human rights policy, says board chair

PHOTOS: B.C.’s top doc picks up personalized Fluevog shoes, tours mural exhibition

Murals of Gratitude exhibit includes at least one portrait of Henry alongside paintings of health-care workers

In troubled times: Independence Day in a land of confusion

Buffeted by invisible forces and just plain worn out, the United States of America celebrates its 244th birthday

‘Mind boggling’: B.C. man $1 million richer after winning Lotto 6/49 a second time

David O’Brien hopes to use his winnings to travel and of course keep playing the lottery

Liberal party finished 2019 having spent $43 million, raised $42 million

All political parties had until midnight June 30 to submit their financial reports for last year

Most Read