Families Minister, Rochelle Squires, recently announced that the Manitoba government, through Manitoba Housing, is providing $1.2 million in rent subsidies for Lions Place residents.
“Our government is very committed to ensuring all Manitobans have a safe and affordable place to call home,” said Squires. “That is why I’m pleased to announce $1.2 million in rent subsidies to ensure that no current tenant residing at Lions Place will experience a rent increase or renoviction.”
Manitoba Housing is entering into a two-year rent supplement agreement with the new owner, which is in the process of acquiring the 287-unit Lions Place. The rent supplement provides a top-up between the market rent charged by a landlord and the rent a tenant can afford to pay, and will ensure rents do not increase for any Lions Place residents for the next two years while a new funding model is being developed, noted Squires.
The minister added the new funding model will ensure vulnerable households are protected from unaffordable rent increases, while giving the non-profit sector the means to protect and preserve their asset base.