Mr. Speaker, one of the very important values in the new Northwest Territories Housing Corporation mandate is partnership. Partnership is how we are most effectively going to address the housing needs of residents across the territory. It is critical that we work in partnership with Indigenous governments, the Government of Canada, community governments, and other stakeholders to reach our housing goals.
As we work towards improvement within the Housing Corporation, I would like to highlight one of the areas that supports addressing core need.
Prior to 2021, the Housing Corporation delivered a program called the Transitional Rent Supplementary Program. It was 100 percent funded by the GNWT and at that time of sunsetting, it was funded at $250,000 per year and supported approximately 50 clients across the Northwest Territories. In our current bilateral agreement with the Canada Mortgage and Housing Corporation, provisions were made for the Housing Corporation to join other Canadian jurisdictions in delivering of a new Canada Housing Benefit Program. The current Canada Mortgage and Housing Corporation bilateral funds this program from 2021 to 2028, and over that time the Housing Corporation is expected to receive a total of $9.6 million, which the Housing Corporation must costshare.
In 20222023 our main estimates showed an annual budget of $2.5 million towards this program, up from $1.7 million in 20212022. With that level of investment, the Canada Housing Benefit is currently supporting approximately 250 households across the Northwest Territories, and we anticipate that will increase with the additional investment starting in April.
The CanadaNWT Housing Benefit, a rent subsidy program, is designed to help households that pay more than 30 percent of their income on their rent. In place since April 2021, this benefit provides qualified households with up to $800 dollars per month for rent and is a 50/50 cost share between the Government of the Northwest Territories and the Government of Canada. As part of the National Housing Strategy, The National Housing Strategy is a federal government initiative to address housing needs and chronic homelessness.
Mr. Speaker, I would like to provide this House with an update on the good work being done through the CanadaNWT Housing Benefit.
Right now, the benefit is supporting approximately 250 NWT households. This benefit is making a tangible, positive difference in their lives. When the benefit was first offered, the Housing Corporation received 50 applicants. Now the Canada Housing Benefit is oversubscribed by 20 percent, with more NWT residents expressing their interest in accessing the benefit as time goes on. The Housing Corporation is currently looking at ways to address this demand. The benefit is clearly meeting the needs to provide assistance in making rent affordable for private market units where they exist in communities.
What all this means, Mr. Speaker, is that someone who worried about being able to pay for childcare next month, now has more room in their budget. It means that someone can cope a little bit more better with the rising costs of food and fuel. It means that someone whose work hours have been cut back can still pay their rent at the beginning of the month. This benefit also helps the government address the core housing need across the territory, in this case by helping program partnerships address affordable issues.
Mr. Speaker, it is critical that we continue to look for ways to support our residents to secure safe homes and maintain housing stability. I am pleased that we are able to work with the Government of Canada on this initiative.
Partnership is a theme I have spoken about in this House many times because it is the best way to address the housing needs of the Northwest Territories. One government alone cannot solve the territory's housing issues. And despite the success of the program like the Canada Housing Benefit, there is still a lot more work to be done.
Mr. Speaker, as responsible for the Northwest Territories Housing Corporation, I will continue to work hard to build and maintain these partnerships so that we can see more and more successes like the Canada Housing Benefit.
I would also like to thank the staff of the Housing Corporation for meeting with the federal government as well as we continue to find creative and innovative approaches and partnerships as we continue to meet the needs of the people of the Northwest Territories. Mashi, Mr. Speaker.
Thank you, Minister. Ministers' statements. Minister responsible for Education, Culture and Employment.
