Coherent Identifier About this item: 20.500.12592/ccg4nd

A simpler, cheaper housing subsidy

2015

Premium

Summary

The first set identifies opportunities to develop fairer and simpler rent setting practices, while the second involves changes to the rent subsidy model for tenants and the funding formula and administration requirements for housing providers. [...] Impact on housing providers The impact of the RGI system on housing providers depends on the program under which the projects were built and the type of subsidy the provider receives from the government. [...] The HSA explicitly provides authority for the service manager to create a rule that relates to the creation of capital reserves for the local housing corporation. [...] To illustrate further, Appendix A details the calculation of benefit payments, the effect of earned income and the resulting claw-back of OW/ODSP benefits and calculation of RGI rent. [...] For tenants in receipt of OW and ODSP benefits, the prescribed rents increase the cost of the housing subsidy, which is fully paid by service managers, and reduce the cost of income assistance benefits, which will be fully- funded by the Province in 201829.

Tags

government politics public finance economy projects poverty taxation finance basic needs business debt employment government policy housing subsidies investments public housing mortgage revenue government budget social housing benefits affordable housing earned income tax credit expense affordable credit and debt deductions housing association odsp

Topics