The Nova Scotia Housing Development Corporation
The Nova Scotia Housing Development Corporation is governed by the Nova Scotia Housing Development Corporation Act, and its mission is to partner with Nova Scotians in fostering healthy communities through housing.
Three federal-provincial agreements form the cornerstone of the Corporation's operations. They are the Social Housing Agreement (1997), the Affordable Housing Agreement (2002, 2005) and the Housing Renovation Program Agreement (2003). These agreements enable the Corporation to support the province in providing safe, adequate, affordable, and sustainable housing to low and modest income Nova Scotians. The Corporation also manages the province's social housing assets, negotiates funding agreements and provides financing tools for a variety of housing solutions. In addition, the Corporation fills a gap in lending needs; as it can borrow long term funds at fixed interest rates.
The Minister of Community Services is the Corporation's Chairperson and the Deputy Minister is the President. The staff of the Department of Community Services carry out the management and administration functions of the Corporation, but are not direct employees and receive no remuneration from the Corporation. Direct service delivery, including functions like tenant and property management, is carried out by seven Housing Authorities and their employees.
In carrying out its business, the Corporation and its agents perform a number of roles, including those of land owner, landlord, administrator and developer. For example, the Corporation is the largest residential landlord in the province, owning 12,000 senior and family public housing units.
These units are administered and managed by the Housing Authorities. The Authorities also administer the Rent Supplement Program of approximately 800 units, and the Rural and Native Housing Program of some 1,200 rental and homeowner units. Combined, these programs provide housing to approximately 30,000 Nova Scotians.
Other corporation activities include the administration of the Canada Mortgage and Housing Corporation's (CMHC) mortgage/loan portfolio for Nova Scotia and working with other program units within Community Services and with the Department of Finance to provide direct lending to housing related projects for long term interest rate risk reduction.