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THE S60: SHOW 17 OFF. LEAVE YOUR GARAGE DOORS OPEN. o. ngiem ... ... /.. wakge 5â€"8PEED MANUAL TRANSMISSION + STABILITY TRAChON CONTROL + ALLOY wheels . * s M . _ rifMaqtWe Prayrodit.... ... . ... ©400A4 + FOURâ€"WHEEL POWER DISC BRAKES .: >~> . P & sarae omm en on .. e T AME > * s PP Mn y o g SPRING CLEANING? THIS YEAR, MAKE YOUR GARAGE MORE CROWDED. Affordable housing strategy gets funding boost n ambitious plan by A:he Region of Waterloo o build 1,000 units of affordable housing over the next five years got a boost last week when the federal govâ€" ernment and the province finally signed an agreement that would let federal funding flow for new housing. Sean Strickland, the head of the region‘s social services committee, said the local housing strategy is nineâ€" tenths of the way to being launched, but was waiting for a final $8â€"10 million cash infusion from the federal government before starting construction. That money, promised more than six months ago, was held up in negotiations with the province, and furâ€" ther delayed by the leaderâ€" 1369 King Street, St. Jacobs 664â€"3149 tgupper level} «Bm P Jqlexandrla"s ShOES 304 wOwen Nine West Franco Sarto Hush Puppies Neu‘W lose e tonal By Bos Vrsana Chromucle Staff SHOES F04 wOwen ship race of the provincial Progressiveâ€"Conservative With Emie Eves win, and the much more conciliatory tone set by his new governâ€" ment, Municipal Affairs Minâ€" ister Chris Hodgson and Deputy Prime Minister John Manley finally signed the accord last Thursday. It will provide $489.42 million over the next five years to help increase the supply of affordâ€" able housing in the province. The federal share of the new housing strategy is $244.71 million, with matchâ€" ing contributions coming from the province, municiâ€" palities and other private and nonâ€"profit partners. It‘s hoped this unprecedented coâ€"operation leads to the creâ€" ation of an estimated 10,500 new housing units in Ontario over the next five years. More importantly, it sigâ€" nals that the federal governâ€" ment and provincial governâ€" ment are finally getting back into supporting affordable housing, a commitment that has lapsed over the past decade. In the interim, social housing has been downâ€" loaded to the municipalities by the province, and few new units were started because the lowerâ€"tier governments Authorized Volvo Retai 533 King St. N., Water didn‘t have the tax base to fund new projects. Under the agreement, the program will be adminisâ€" tered by the Ministry of Municipal Affairs and Housâ€" ing, which will be responsible for the selection of projects. Funding under this agreeâ€" ment will be used for an affordable urban rental housâ€" ing program, an affordable urban home ownership proâ€" gram and an affordable remote housing program. These initiatives will creâ€" ate affordable housing for low to moderate income households, with the new units funded remaining affordable for a minimum of Sean Strickland social services committee head 2002 VOLVO S60 24 VOLNO for life "The next step is to have the money flow through the community." said Strickland, who held back some of his praise from the agreement until the funding for local projects was confirmed. "It‘s been a long time in the works, and it‘s a good step forward. "Now we have to work diligently to have the province and federal governâ€" ment to flow the money to the municipalities. I‘m pleased by the announceâ€" ment, but at the same time I‘m a little bit reserved until I see the cheque." New funding couldn‘t come at a better time with the current rental vacancy rate for all municipalities in the region sitting at 0.7 per cent, an allâ€"time low for the area. In Waterloo it‘s even worse with the apartment vacancy rate sitting at 0.3 per cent in 2000, the last time the data was compiled. 10 years In addition to the low vacancy rate, more than 3,300 families are currently on waiting lists for affordable housing in the region. "That money is part of our affordable housing strategy of 1,000 units we want to have built in the region by 2005," said Strickland. "That will helps up reach our tarâ€" get, and the sooner we get the money the more likely we are to reach the target in advance of 2005. "We have all the market conditions here that are realâ€" ly crying out for an influx of affordable housing." "If there‘s anything that local councils and local municipalities can do to work on this in partnership, we‘re wide open to that," said Strickland. "We have to work with them in terms of some zoning considerations, availâ€" ability of land and some flexiâ€" bility for planning concerns, which is cantrolled by the local municipalities." While the affordable housing responsibility firmly rest with the region, local municipalities also have a role to play. Despite turning down a proposal to endorse their own affordable housing task force plan May 13, city staff has been directed by Waterâ€" loo Mayor Lynne Woolstenâ€" croft to look into whether the new federal funding will allow the city to revisit the plan. "I asked staff to see if there was anything there that would help us to encourage affordable home ownership." said Woolstencroft. "I haven‘t heard anything back yet." Woolstencroft said that the city and its citizens have recognized affordable housâ€" ing as a priority in the Imagâ€" ineWaterloo visioning proâ€" ject held two years ago. She said it was very important to live up to the mandate set out by the process. "The staff has asked the federal and provincial govâ€" ernment what is available for the part we can play in affordable housing." said Woolstencroft.