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The announcement was made today by the Honourable Joe McGuire, Minister of the Atlantic Canada Opportunities Agency and Member of Parliament for Egmont, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing and the Honourable Lucienne Robillard, President of the Queen’s Privy Council for Canada, Minister of Intergovernmental Affairs, and Minister of Human Resources and Skills Development. The Honourable Chester Gillan, Prince Edward Island Minister of Health and Social Services, and MLA Wilfred Arsenault, Evangeline - Miscouche, on behalf of the Honourable Mike Currie, Prince Edward Island Minister of Development and Technology also participated in the announcement.

The project will be located on Mill Road in Wellington and will provide eight one-bedroom and six two-bedroom apartment units to rent at affordable levels for a minimum period of 10 years.

La Coopérative d’hebérgement le Belle Âge L’tée, the group responsible for this new development will receive $350,000 under the Canada-P.E.I. Affordable Housing Program Agreement along with $195,000 from the Provincial Department of Development and Technology. The Canada/Prince Edward Island Labour Market Development Agreement, co-managed by Human Resources and Skills Development Canada and the Provincial Department of Development and Technology, will provide up to $214,623 in participant benefits and overhead costs. La Coopérative d’hebérgement le Belle Âge L’tée is providing the land valued at $173,500 with the balance of funding provided by a mortgage loan from the Evangeline Credit Union.

“This partnership clearly demonstrates how governments can work effectively with community groups,” said Minister McGuire. “The Government of Canada is committed to work to create more affordable housing in Prince Edward Island while helping communities to offer better services and contributing to sustainable development.”

“This project will provide 14 families and individuals in the Wellington area with safe, affordable housing, which will improve the quality of their lives significantly,” Mr. Arsenault noted. “The flexibility of the Canada-P.E.I. Affordable Housing Agreement allows us to work with community groups across the province to develop projects such as this. Initiatives such as this require a great commitment and I commend La Coopérative d’hebérgement le Belle Âge L’tée for pulling this project together.”

“The development of this project is a result of a strong commitment by volunteers in this community to provide housing options for our residents. This is an integral part of the Cooperative’s mandate,” said Simon Arsenault, President of La Coopérative d’hebérgement le Belle Âge L’tée.

The Canada-Prince Edward Island Affordable Housing Agreement, signed in 2003, stated that it would provide $5.5 million to create 120 housing units by the end of 2007 across P.E.I. The Government of Canada is contributing $2.75 million to be matched by the Province and other partners.

BACKGROUNDER

Canada-P.E.I. Affordable Housing Program Agreement Summary

Dated signature: May 23, 2003

Objectives:

-To increase and sustain the supply of new affordable housing in Prince Edward Island

-Housing supported by the Canada-P.E.I. Affordable Housing Agreement must be affordable for 10 years.

Program:

-Funding under this agreement will be used to create new, additional, affordable housing units for low to moderate income Islanders through rental, conversion and homeownership initiatives.

Administration:

-The program is administered by the Prince Edward Island Department of Health and Social Services.

-P.E.I. is responsible for the selection of affordable housing projects.

-Provincial priorities are housing for families, persons with disabilities and persons with special needs.

-The P.E.I. Government has partnered with Habitat for Humanity to deliver the homeownership component.

Financial Provisions:

-Maximum CMHC funding under the agreement is $2.75 million to be matched by the Province of Prince Edward Island, municipalities and others partners.

-Overall CMHC funding will not exceed $25,000/unit over the life of the Agreement.

Accountability:

-P.E.I. will provide annual audit and performance reports on the use of CMHC funding.

-CMHC will lead a national evaluation of the program in 2006 and the province will be invited to participate.