The Governments of Canada and Newfoundland and Labrador announced today $240,000 in renovation and retrofit funding for eight social housing units in Labrador. The investment, which is part of the federal/provincial investment in affordable housing in Newfoundland and Labrador announced in May 2009, will significantly extend the life of these homes.

The funding was made available through Canada’s Economic Action Plan, the Federal Government’s plan to stimulate the economy and create jobs across Canada during the global recession. The economic action plan includes $2 billion for the construction of new and the renovation of existing social housing, plus up to $2 billion in low-cost loans to municipalities for housing-related infrastructure. The federal and provincial governments are contributing equally to this overall investment of $58 million under the amended Canada-Newfoundland and Labrador Affordable Housing Program Agreement.

The Government of Canada wants to improve the quality of existing social housing for low-income seniors, single parent families, recent immigrants and Aboriginal households. Canada’s Economic Action Plan provides $850 million under the Affordable Housing Initiative to provinces and territories for the renovation and retrofit of existing social housing.

Repairs totalling $112,000 for four units on White Crescent in Happy Valley-Goose Bay; and $128,000 for four units in Port Hope Simpson include the replacement of roofing, siding, windows, doors, eaves troughs and fencing. The work is expected to be completed early in the new year.