The Alberta government is making it easier for those who apply for affordable housing to continue to save.
Under new rules announced on March 24, those applying for affordable housing no longer have to declare their disability or Education savings plans part of asset testing rules. This means these will no long apply towards the $7,000 asset limits of Affordable Housing programs.
“By making this change, we are ensuring that low-income Albertans are not being penalized for saving for their future security or their children’s education,” said Lori Sigurdson, Minister of Seniors and Housing.
Jay Garbutt, Chairman of Drumheller Housing Administration and Councillor for the Town of Drumheller, says the changes may have a mild impact.
“The Drumheller Housing Administration follows a strict set of criteria and qualification tables to ensure that the Provincial Subsidized Housing is available to those in need. While every tenant has their own unique financial circumstances we can see where this new criteria will make sense for certain applicants” said Garbutt.
Asset testing for housing programs is now consistent with other support programs such as the Alberta Seniors Benefit.
According to a release, the Social Housing Accommodation Regulation does not exempt the two savings plans, since the regulation predates the plans’ establishment by the federal government. The exemptions will take effect April 1 by ministerial order until the regulation is amended.
The Drumheller Housing Administration is a management body formed by the provincial government to administer the 50 subsidized rental units in Greentree and Hunts, the 20 Affordable Housing Apartments at Sandstone Manor and the Provincial Government’s Rent Supplement Program.
DHA’s offices are located at 145 3rd Ave West.
