Saskatchewan Housing Corporation (SHC) Affordable Homeownership at Different Scales presented to Canadian Housing and Renewal Association’s Annual Congress.

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Presentation transcript:

Saskatchewan Housing Corporation (SHC) Affordable Homeownership at Different Scales presented to Canadian Housing and Renewal Association’s Annual Congress Don Allen, President May 2, 2013 Ottawa

Affordable Homeownership Recognized as an important part of housing continuum in Saskatchewan’s Housing Strategy –Consulted with hundreds of organizations and individuals –One of the common themes: “One size does not fit all” 2

Saskatchewan’s Home Ownership Approach Multiple programs each with different focus –Builders (e.g. HeadStart on a Home) –Owners (e.g. Secondary Suites for both new construction and retrofit; Habitat for Humanity) –Municipalities (e.g. Affordable Homeownership Program) –All support new construction or conversion from non-residential to residential use 3

Affordable Homeownership Program (AHOP) One program but not a one size fits all program Municipalities design the program that works for them –Province limits its financial contribution based upon cost matching –Province targets to incomes below a certain amount (currently $66,500) 4

AHOP Examples of Different Municipal Designs Discounted prices on municipally owned land One-time cash grants Property tax abatements Any of the above Provincial funding is a grant; no requirement to pay back. 5

AHOP Results Have committed $3.8 million in provincial funding for 800 units 7 communities have applied for and been approved for funding Saskatoon is the largest participating community, was first with a program and has been the most active –145 units completed so far 6

Challenges with AHOP Municipal capacity Very helpful for municipalities already moving in this direction More challenging for those just beginning on a new home owner program Some municipalities didn’t increase the benefit to the client 7

Conclusion As part of 5 year housing plan, including all homeownership programs since March 2011 Have committed to 2,134 units as part of a 5 year plan –586 are under construction –458 have been completed of which 420 are occupied Partnerships work, flexibility is key 8

Thank you 9