Amount of Assistance
The social housing units are constructed through Canada Mortgage & Housing Corporation’s (CMHC) Section 95 housing program. Penticton Indian Band obtains a loan to fund the construction of these units and the loan is guaranteed by the band through a Ministerial Loan Guarantee with Aboriginal Affairs and Northern Development Canada. The Band is responsible to make monthly payments to repay the loans. Through the Section 95 program, CMHC provides the Band with a monthly subsidy to assist with financing and on-going operating costs of these units. Penticton Indian Band will approve funding through the social housing program for only one primary residence for each band member.
Who Is Eligible?
Any Penticton Indian Band member 19 years of age or older is eligible to apply for the social housing program. The Band member cannot be in arrears on any payments or user charges to Penticton Indian Band. They must sign a lease agreement with Penticton Indian Band and pay the first months’ rent plus ½ months’ rent as a damage deposit before taking occupancy of the unit. At the end of the lease period, if they have met the terms and conditions of the agreement, Penticton Indian Band will transfer ownership of the unit to the Band member.