STEPHEN RICCIO
QUEBEC May 17, 2021
Thanks to an investment of $151 million from a multitude of government and private sources, 1,500 affordable housing units will be established across Quebec, according to . . .
a recent announcement from Pontiac MP Will Amos’s office.
The announcement came through a May 17 press release from Amos’s office, which stated that a consortium of both the federal and provincial government, Fonds de solidarité FTQ, Ivanhoé Cambridge and a handful of charitable foundations combined to invest the funds, which will in turn be delivered to cooperatives, non-profit organizations and authorities to carry out the work of installing the units.
The Association of Quebec Technical Resource Groups (AGRTQ) will be in charge of overviewing whatever projects result from the funding as well as analyzing and recommending project proposals, beginning in the fall of 2021.
On top of the public-private investment of $120 million, the charitable foundations combined to contribute $31 million. Those foundations being The Lucie and André Chagnon Foundation, Fondaction, the Mirella and Lino Saputo Foundation, and the J. Armand Bombardier Foundation. The release added that an additional $30 million will come from community contributions, which according to Amos’s secretary Francois Beausoileil means that a project’s funding eligibility will be tied to the project group’s ability to raise 20 per cent of its production costs through community sources, which could include donations and fundraising. This would make the initiative’s total sum $181 million.
Amos said that the announcement came amid what he described as a perfect time to consider the need for more housing for those who are vulnerable.
“The COVID-19 crisis has reminded us that access to affordable housing is critical to the health and well-being of vulnerable households,” he said in the release. “That’s why the Government of Canada’s National Housing Strategy is so important. Today, the establishment of a consortium of investors will provide a significant boost to many households. By working together, we will be able to provide affordable housing to those who need it most in Quebec and from coast to coast.”
