What we do, don’t do and don’t do yet
The Agency has signed an agreement 
with Canada Mortgage and Housing Corporation (CMHC) to take on some of CMHC’s work with non-profit housing co-operatives. The Agency combines a fresh approach to program administration with excellent service , bringing significant benefits to all stakeholders.
What we do
The Agency’s mandate is
- to ensure that public funds committed for co-operative housing programs are used as intended and are properly accounted for
- to safeguard the public’s investment in co-operative housing.
Within the limits imposed by the terms of its agreement with CMHC, the Agency will administer federal co-operative housing programs in British Columbia, Alberta, Ontario and Prince Edward Island, and the operating agreements of co-ops coming under CMHC’s urban-native programs. The Agency is taking on this work in phases.
The Agency’s agreement with CMHC calls for it to
- give information about the federal co-op housing programs to co-ops and other stakeholders
- monitor whether co-ops are abiding by the terms of their operating agreement with CMHC
- review co-op financial results each year
- reconcile each Section 95 co-op’s subsidy each year
- approve operating budgets, where co-op agreements with CMHC require it
- approve replacement-reserve plans, spending and contribution rates, where agreements require it
- perform a visual inspection of each co-op every two years
- rate co-ops every year on whether they are at risk of sliding into financial difficulties
- help co-ops that are struggling to meet their financial obligations.
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What we don’t do
Some co-ops are funded under programs that CMHC does not administer. These co-ops will not come under the Agency.
- Provincial co-op programs will still be administered by the province.
- Municipal co-op programs (SHRA co-operatives) will still be administered by the municipality.
In Quebec the federal-program co-ops will remain with CMHC. Some federal-program co-ops in special circumstances, such as British Columbia’s leaky co-ops will move to the Agency at a future time.
The Agency will not concern itself with co-op governance or democratic functioning, unless problems put the co-op at risk of defaulting on its loans. The Agency will usually refer co-ops with governance issues to the help offered by the appropriate federation of housing co-operatives or to CHF Canada.
The Agency will not undertake certain kinds of financial procedure. CMHC will continue to
- hold subsidy monies and distribute them to co-ops
- administer co-op mortgage loans
- approve new co-op loans
- handle mortgage insurance claims.
The Agency will not set federal housing policy nor change program policies or agreements between housing co-ops and the government.
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What we don’t do yet
The Agency doesn’t yet
- administer CMHC rent-supplement programs for co-ops in Alberta, Ontario and PEI
- calculate the amount of assistance due to co-ops under their operating agreements with CMHC
- show co-ops examples of the best practices of other co-ops.
If all goes well, the Agency will phase in these services over the next few years.
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