The CHRA study calculated that the federal, provincial and territorial governments would earn about $3.5 billion per year when all corporate agreements expire around 2040. This raises questions about what to do with the dollars in reduced spending. The study called for reinvestment in residential projects with profitability problems or assistance in the event of a capital replacement, as these residential assets are paid for and it would be cheaper to reinvest in them than to replace them. Given the current problem of homelessness, another use would be to expand the stock of affordable housing, especially where the need is greatest. So far, there has been no movement by the federal government. Housing activists are also raising questions about what to do with the surplus CMHC, which could be used in the same way since it was collected by housing activities in Canada. The MRC depends on the number of units in the project and the number of rooms per unit. For more information, see schedule B of your project`s company agreement. The company agreement set out the amount, duration and conditions of subsidies provided by the provincial and/or federal governments.
Their expiration, often linked to a mortgage amortization period of 35 years, means that non-profit housing providers are responsible for the ongoing financial viability of the project when the mortgage expires. BC Housing and bc Non Profit Housing Association (BCNPHA) have developed a guide to help non-profit housing providers approaching the end of their business agreements. Given the current homelessness crisis, increased use of the cmhc surplus would be to develop the stock of affordable housing, especially where the need is greatest. Sharon Chisholm, former executive director of the Canadian Housing and Renegotiating Association, suggested that “if the federal government says it will maintain, if not increase, the existing budget line, 80% of that budget could be used to create new housing. If mortgages are repaid, 21,000 housing units per year could be created. If the provinces keep their pedals on metal and partners, it could double” (Standing Senate Committee, 2009, p.87). . . .