Feds, province to invest $394.2M in improving housing affordability in Nova Scotia

The federal and provincial governments signed an agreement on Tuesday to provide long-term funding for community housing in Nova Scotia.

Federal Minister of Rural Economic Development Bernadette Jordan and Nova Scotia Minister of Municipal Affairs and Housing Chuck Porter announced in Windsor, N.S., that they had reached a bilateral agreement to prioritize affordable housing that will be cost-shared by the two governments.

READ MORE: West Island community group calls for more affordable housing for seniors

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According to the federal government, the 10-year agreement will invest almost $394.2 million to protect, renew and expand social and community housing in addition to supporting Nova Scotia’s priorities related to housing repair, construction and affordability.

The multimillion-dollar‎ investment includes almost $197.1 million each from the government of Canada and the government of Nova Scotia.

The two governments will also work together on the design and implementation of a new Canada Housing Benefit for the province to provide affordability support directly to families and individuals in housing need.

READ MORE: Housing affordability — What has the Trudeau government done for you?

“We will now work with Canada Mortgage and Housing Corporation to finalize the first three-year action plan that will advance our provincial housing priorities, providing more affordable and accessible housing options to those who depend on it, especially for our most vulnerable citizens,” Porter said.

The government of Nova Scotia will develop and publish three-year action plans, beginning in 2019-20, setting targets and outlining how it will use federal and cost-matched funding to achieve the desired outcomes.