Feds Unveil On-Reserve Home Ownership Fund

Feds Unveil On-Reserve Home Ownership Fund

Monday, May 05, 2008 at 14:15

The federal government says it is making home ownership a reality for more First Nations people living on reserves.

The minister responsible for the Canada Mortgage and Housing Corporation, Monte Solberg, and Indian Affairs Minister Chuck Strahl announced the official opening of the First Nations Market Housing Fund this morning.

The plan for the $300 million fund was first announced in last year’s budget.

The Conservative government calls it a new and innovative way to give First Nations members the opportunity to own their own homes on reserves or on settlement lands, where appropriate.

The fund is also aimed at giving Aboriginal families the means to build equity and generate wealth.

The government anticipates that up to 25,000 new homes over 10 years will be provided through this fund.

The government says access to the fund should be easy, as long as First Nations meet certain criteria.