Launching the Co-operative Housing Development Program

WE RESOLVE:

THAT CHFT urge the federal government and the Minister of Housing, Infrastructure and Communities to launch the Co-operative Housing Development Program without further delay.
THAT CHFT encourage The Region of Durham, the City of Toronto, York Region, and the province to voice their support for the Co-op Housing Development Program to be launched as soon as possible.
AND THAT CHFT work with its members, the other regional federations, and CHF Canada to achieve this goal.

OUR REASONS FOR THIS RESOLUTION ARE:

Co-op housing is needed now more than ever. Housing co-operatives offer housing to their members at cost and operate on a not-for-profit basis. Research has shown that co-operatives offer greater stability and affordability over time compared to market housing.
We were excited when the Co-operative Housing Development Program was announced in the April 2022 Federal Budget. However, despite the considerable time that has passed since, the co-op housing sector still anxiously awaits the launch of this program. Co-ops and sector partners are ready to build and acquire more co-op homes.
The economics of new housing construction continue to be challenging. Delaying the launch of the Co-operative Housing Development Program has already increased the cost of proposed projects and will continue to do so.
The government has already consulted with the co-operative housing sector which offered guidance on the needs of the sector, the practicality of proposed solutions, and identified strengths and barriers to proposed programming.
Creating more co-op sector development capacity and increasing the supply and scale of co-operative housing via a dedicated and tailored co-op housing development program will help more people in Canada access housing that is affordable and meets their needs. This will advance the right to housing and bring more equity to Canada’s housing system.

The motion of this resolution was put forth during the November 30th CHFT General Members’ Meeting, seconded, and passed with 99% voting in favour.

Watch CHFT Executive Director Tom Clement’s speech from the meeting

A Better Way

What is the difference between co-op housing and regular rental housing?

People who live in a co-op are members of the co-op, not tenants. Together, they are responsible for the co-op. Each member has one vote and every year a Board of Directors is elected from the membership.

There is no landlord. Members make the big decisions about how the buildings will be maintained and how the business of the co-op will be managed.

Members run the co-op. Members elect a board of directors to manage the business of the co-op. Most co-ops hire staff to do the day-to-day work. Members work together to keep their housing well-managed and affordable.

You don’t have to worry about excessive rent increases. Landlords raise rents to maximize their profits. Co-ops are non-profit organizations. This doesn’t mean that rents (housing charges) won’t go up. Housing charges increase regularly as operating costs increase. The difference is that co-op members review the finances of the co-op and budget recommendations of the Board of Directors. At an annual general meeting the members vote on the budget. If there are housing charge increases, they reflect true costs, not profit margins.

Co-op housing is secure. Co-op members are asked to leave only if they break the co-op’s by-laws. Co-ops provide secure and stable housing. You and your family can live in the Co-op for a long time and build roots in the community.

Co-op members form deep roots in the community. The co-op will never be sold or flipped for profit so members can choose to remain in the co-op for a long time. This encourages involvement and commitment to the community and allows members to feel secure in their co-op and their neighbourhood. It is easier for people to become involved in their community if they know they will be a part of it for a long time.

Co-op members are a part of a larger community of co-ops. In the Greater Toronto Area there are over 165 co-ops that are joined together in a federation where co-ops can turn for support, information and advice.

CHFT Members’ Resolution:

Launching the Co-operative Housing Development Program

Watch CHFT Executive Director Tom Clement’s speech from the meeting

Contact Us

Phone:

Address:

Email:

Recent Postings

Show your support for the Scarborough co-op!

Join this virtual community consultation meeting hosted by the City of Toronto on the new Scarborough co-op!

Future of co-op housing with guest speaker Tom Clement