‘No decisions’ on Calgary’s federal housing funding, according to CMHC
AI Article Summary
Calgary city officials informed the city council that federal housing funding has been paused, as per a preliminary memo seen by Global News. The Canadian Mortgage and Housing Corporation (CMHC) has clarified that no decisions have been made regarding this funding. This communication highlights the current uncertainty surrounding the federal allocation for housing projects in Calgary. The situation remains under review with no concrete resolution in place yet.
What This Means for Canadian Contractors
For Canadian builders, this means delayed federal funding can impact housing project timelines and financial planning. Contractors might face uncertainties regarding the start and completion dates of projects, as well as difficulties in managing budgets without confirmed funding. This situation emphasizes the significance of having flexible contingency plans in place to mitigate the risks associated with funding instability.
