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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 - Phase 2 (FCHI-2) - CMHC-SCHL
If the funding allows, a provider may use a...
- Federal Community Housing Initiative – Phase 2 (FCHI-2) - CMHC
The FCHI-2 is a new Rental Assistance program for community...
- Reference Guide 2023 - Phase 2 (FCHI-2) - CMHC-SCHL
- 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 yearsPeople also ask
What is the fchi-2 program?
When will CMHC start implementing fchi-2?
How much funding does fchi 2 provide?
What is the fchi-2 Rental Assistance Program?
Phase 2 of the Federal Community Housing Initiative (FCHI-2) is a rental assistance program for community housing providers. It supplements the difference between the occupancy charge and the rent-geared-to-income charged to low-income tenants.
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.
Mar 3, 2022 · Every co-op in the Rental Assistance Program (FCHI-2) will need to complete an Action Plan covering the next three years. The launch of the Self Assessment and Action Plan will take place in the week of 7 March 2022, with a submission deadline of 1 August 2022 for your plan.
