FSIN Not Completely Sold On Home Ownership Fund
Tuesday, May 06, 2008 at 14:58
The FSIN has some concerns with the federal government’s new home ownership program for people living on reserves.
The $300 million initiative is being administered by the Canada Mortgage and Housing Corporation.
Federal officials expect it to provide 25,000 homes over the next 10 years.
However, at least one official with the Federation of Saskatchewan Indian Nations doubts it will make a big splash in this province.
Vice-Chief Morley Watson says many Saskatchewan bands lack the financial resources to qualify for the assistance.
However, the funds can only be accessed if bands are in good financial standing and meet certain criteria.
Watson says he thinks those requirements are very similar to loan programs run by banks.
He notes those usually involve a review of band finances that examines the band’s books the past couple of years.
Watson says he’s not sure how impoverished bands will clear this hurdle.
He also wishes a Saskatchewan resident had been included on the board of directors operating the fund.
At the same time, Watson says he welcomes any investment by the government and only time will tell how much it helps.