Manitoba Housing and Renewal Corporation
The Manitoba Housing and Renewal Corporation (MHRC) is a Crown corporation
governed by a board of directors with policy direction provided by government.
The MHRC board of directors is appointed through
Order in Council.
The MHRC operates as the delivery arm for federal/provincial
cost-shared social housing programs and other capital programming provided
by the province. The MHRC is an approved lender under The National Housing Act, issues mortgages and loans and holds assets.
The MHRC owns assets but is financially dependent upon the
Government of Manitoba, receiving an annual transfer
payment for the difference between MHRC's revenues and its expenses less
federal recoveries. Under The Loan Act, The MHRC is directly voted monies for the purposes of its capital activities.
The MHRC receives substantial support from the federal government
through the Canada Mortgage and Housing Corporation (CMHC). The MHRC's
other primary source of revenue is in the form of rents from tenants
in its
housing.
The MHRC provides subsidies for about 36,300 housing
units developed under various federal/provincial housing programs. Approximately
13,000 units are direct-managed through the Manitoba Housing Authority (MHA), an agency established in 1992.
|
