03/28/2001

AMO President said, "The $100 million funding will help municipalities deal with the cost of taking on social housing, but it is not the total solution to all all the risks municipal governments, and their property taxpayers are going to face."
AMO is pleased that Minister Hodgson re-confirmed monies for start-up costs, employee entitlements, restructuring and property management and one time federal funds.  

"I expect the Minister to keep the money flowing.  We need the Minister's commitment that all the federal social housing funds and its surplus dollars plus new provincial dollars for capital replacement and repairs flow to municipalities to help us manage what we see as unfunded risk with the transferred stock," stated Mulvale. 

AMO looks forward to Minister Hodgson making additional announcements for protecting the municipal tax base from other future risks such as: market rent fluctuations, the eventual loss of the federal housing subsidy, and new affordable housing to help those on waiting lists.
 
The Association of Municipalities of Ontario (AMO) is a non-profit organization with member municipalities representing 98 per cent of Ontario's population.  AMO supports and enhances strong and effective municipal government in Ontario and promotes the value of municipal government as a vital and essential component of Ontario and Canada's political system.

- 30 -