Co-op programs

Non-profit co-operative housing funding programs

Over the years, both the provincial and federal governments have created programs to support the development of non-profit housing co-ops.

Presently, Quebec is the only government that continues to create new non-profit co-op housing.

Here is a summary of the non-profit housing co-ops in BC by program. For program descriptions see below.

In addition to non-profit housing co-ops there are a small number of "equity housing co-ops"

ProgramNo. of
Units Being

Homes BC14   List11200
ILM59   List28440
Federal-provincial4   List1200
Section 151   List170
Section 61 (34.18)13   List8260
Section 95 (56.1)160   List89380
No program11   List8920


 *note: some co-ops funded by a blend of programs; the total numbers only count these co-ops and units once.

Federal Programs

Section 61 Program (formerly 34.18)

The first non-profit and co-op housing program began in 1973 and ended in 1978. Section 61 featured a 50-year mortgage at a fixed rate (8%) and a federal government loan, of which 10% was forgivable. The program was originally called the 34.18 program referring to the relevant section of the National Housing Act (which later changed to 61).

Section 95 Program (formerly 56.1)

Co-op homes developed between 1979 and 1985 were created under a program known as Section 95 (the section number refers to the National Housing Act). These co-ops administer a subsidy received from Canada Mortgage and Housing Corporation (CMHC). The number and size of subsidies available varies in each co-op.

Federal Co-operative Housing Program
(also known as ILM)

The federal government funded the development of these co-ops between 1986 and 1992. Rent supplement is cost shared with the province. Its best known feature was the index-linked mortgage. This feature had two effects:

  • the co-ops' monthly mortgage payments rise with inflation (less 2 per cent) even though costs were lower in the first few years.
  • the government's subsidy costs per unit were lower than under the 56.1 (section 95) program.

Other features are:

  • a minimum of 30% of the units must receive rent supplement. There can be up to 50% subsidized units.
  • the remaining units must have market housing charges. Each year there are indexed contributions if they are needed to bridge the gap between economic and market charges in the first years of a project. Federal assistance can be reduced after the fifteenth year of operation.

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Provincial Programs

Homes BC

HOMES BC is the provincial government's housing program. The program provides operating subsidies and rent supplements to non-profit, co-op and private housing providers for low- and moderate-income British Columbians.

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