The governments of Quebec and Nova Scotia have committed more funds to subsidize low-income tenants in the private rental housing market. Quebec’s recently released 2019-20 budget also promises to catch up on delivering previously announced but still pending new affordable housing units, while Nova Scotia’s budget allocates $7.2 million for “major repairs” in the provincial social housing portfolio.
“We will continue to invest in affordable housing initiatives so more Nova Scotians will be able to find a good home at a price they can afford,” Karen Casey, Minister of Finance and Treasury Board, announced as she tabled the budget earlier this week.
That includes a $3 million injection into the three-year plan to create 1,500 additional rent supplements. Meanwhile, the Quebec budget targets approximately the same amount — $2.9 million — specifically toward finding private market units for homeless people. That’s to be largely released over a four-year period beginning in the 2020-21 fiscal year, with only a $100,000 increment earmarked for the coming 12 months.
Quebec’s focus in this budget is more on rolling out the AccèsLogis program, which co-funds new projects in partnership with municipal or not-for-profit housing development proponents. “Building announcements have proceeded at a faster pace than construction,” the budget contends. Nearly $250 million is promised over the next five years with approximately $73 million of that to be immediately disbursed to developers in Montreal.