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Phase 2 provides a total of $580.2 million in funding for housing providers with expired agreements and those that will expire by March 31, 2028. The two FCHI-2 funding streams are: Rental Assistance: The rental assistance stream provides financial assistance for low-income households.
- Reference Guide 2023 - Canada Mortgage and Housing Corporation
FCHI-2 is neither an extension of an existing agreement nor...
- Federal Community Housing Initiative – Phase 2 (FCHI-2) - CMHC
The FCHI-2 Rental Assistance program is available to...
- Reference Guide 2023 - Canada Mortgage and Housing Corporation
- Program Objectives
- Program Features
- CMHC Authority Under The Rental Assistance Agreement
- Accountability Framework
To fund the difference between the occupancy charge and the geared-to-income charge for qualified households that cannot compete for housing in the open market
Unilateral federal programAvailable to housing co-operatives with operating agreements that expired after 31 March 2016 and ILM co-operativesthat have repaid their first mortgageEnrolment form sent to co-operativesat least six months before the expiry of their agreement with Canada Mortgage and Housing Corporation (CMHC)Initial amount of rental assistance and number of assisted households based on Annex form completed by co-opRequirement for co-opsto select assisted households by means of a formal and consistent procedureFinancial statements that show rental assistance was spent on helping to house qualified householdsRight to inspect co-op’sbooks, records and accounts, which must be kept for seven yearsRequirement for a signed agreement from assisted households to give CMHC or its representative access to all information needed to provide rental assistanceFCHI-2 (Rental Assistance) AgreementAnnual audited financial statement and information returnAnnual report on assistance spentAction Plan submitted after first year and updated every three yearsFCHI-2 is neither an extension of an existing agreement nor a continuation of a past program . FCHI-2 is available for the the program will therefore end no later than March 31, 2028 . The program targets households with a permanent housing need, either those with an occupancy agreement or a lease
The FCHI-2 Rental Assistance program is available to non-profit and co-operative housing providers whose CMHC Operating Agreement ends naturally between April 1, 2016 and March 31, 2028. For example, if your Operating Agreement ends in 2023, your project will begin to be eligible for FCHI-2 funding in that year.
Resources. Reference Guide (FCHI-2) CMHC. Download. Tip of the Month. Risk Trend. 92% of Agency clients have a Strengthening or Stable risk trend. Proof of many good decisions. Managing Your Business.
The Federal Community Housing Initiative – Phase 2 (FCHI-2) is a new rental assistance program for community housing providers reaching the end of a federally administered operating agreement. FCHI-2 is neither an extension of an existing agreement nor a continuation of a past program.
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Apr 13, 2020 · FCHI-2 is the new rental-assistance program for federally administered co-ops and non-profits, announced as part of the federal government’s National Housing Strategy. With all of Canada battling to slow the spread of COVID-19, CMHC has delayed its launch of the new program to September 1, 2020.
