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Our Homes, Our Our Homes, Our Way AnnuOur Homes,al Our Re Way | FNMHFpo 2017rt Annual 20 Report17 1 RKET HOUSIN MA G F NS UN IO MENTS D D AT OGE U M N S L A T E RC S L H R R É I U F D O E P S S T I D N N É O S F A U X P R E M First Nations Market I È R E S N A T I O N S Housing Fund The Fund is the first national fund created to support financing arrangements for housing on reserve and settlement lands – it supports market-based housing on reserve by providing easier access to homeownership, rental and renovation loans in First Nations communities. 14 NEW 2017 APPLICATIONS 21 NEW APPLICATIONS 2016 TO SUPPORT 34 NEW APPLICATIONS AN ESTIMATED 2015 $940 50 NEW MILLION APPLICATIONS 2014 6500 IN POTENTIAL HOMES CREDIT 25 NEW APPLICATIONS APPROVED 2013 37 NEW APPLICATIONS 2012 17 19 NEW LENDERS 255 APPLICATIONS 2011 FUND-BACKED 20 NEW HOME LOANS APPLICATIONS 2010 10 NEW APPLICATIONS 2009 7 NEW APPLICATIONS 2008 CAPACITY DEVELOPMENT PILLARS There are three pillars within the Fund’s Capacity Development Program: All three pillars are intertwined; success in one area supports growth in the others. Strong capacity development initiatives in the areas of finance and governance for instance, support overall community development while fostering a positive environment for the implementation and sustainability of a strong market-based housing system. FINANCIAL MANAGEMENT GOOD GOVERNANCE COMMUNITY COMMITMENT (and Evidence of Demand for 195 Market-Based Housing) FIRST NATIONS MARKET HOUSING CAPACITY DEVELOPMENT FUND PARTNERS APPROVED FOR CREDIT PARTICIPATING CAPACITY ENHANCEMENT FIRST DEVELOPMENT AND/OR CAPACITY NATIONS INITIATIVES DEVELOPMENT 122 2017 HIGHLIGHTS $18 14 NEWHOMES FIRST NATIONS PARTNERS MILLION 12 NEW QUALIFIED FIRST NATIONS SPENT ON BUILDING THE FOUNDATION 1 NEW LENDER PARTNER FOR SUCCESS IN FUND-BACKED HOME LOANS FIRST NATIONS 56 COMMUNITIES FORWARD-LOOKING STATEMENTS The Annual Report of the First Nations Market Housing Fund (“the Fund”) contains forward-looking statements regarding objectives, strategies and expected financial results. There are risks and uncer- tainties beyond the control of the Fund that include, but are not limited to, economic, financial and regulatory conditions. These factors, among others, may cause actual results to differ substantially from the expectations stated or implied in the forward-looking statements. © 2018. All rights reserved. No portion of this Annual Report may be reproduced, stored in a retrieval system or transmitted in any form or by any means, mechanical, electronic, photocopying, recording or otherwise without the prior written permission of the First Nations Market Housing Fund. Without limiting the generality of the foregoing, no portion of this Annual Report may be translated without the prior written permission of the First Nations Market Housing Fund. 4 Our Homes, Our Way | FNMHF 2017 Annual Report TABLE OF CONTENTS Message from the Chairperson of the Trustees ........................................................................................ 6 Message from the Executive Director .......................................................................................................... 7 Our Mandate ....................................................................................................................................................... 8 Our Vision ............................................................................................................................................................. 9 2017 – A Year in Review ................................................................................................................................. 10 External Environment ..................................................................................................................... 10 The Fund in Action ........................................................................................................................... 12 The Fund’s Growing Footprint...................................................................................................... 16 Capacity Development .................................................................................................................................... 18 Regional Report ................................................................................................................................................. 24 Atlantic ................................................................................................................................................ 24 Quebec ................................................................................................................................................. 26 Ontario ................................................................................................................................................. 28 Manitoba ............................................................................................................................................. 30 Saskatchewan .................................................................................................................................... 32 Alberta ................................................................................................................................................. 34 British Columbia ............................................................................................................................... 36 Yukon and NWT ............................................................................................................................... 38 Capacity Development Recognition ............................................................................................................ 40 Spreading the Word .......................................................................................................................................... 44 Our First Nations Partners ............................................................................................................................... 49 Getting to Know our Newest Partners ........................................................................................................ 55 Our Reach ............................................................................................................................................................. 66 A Financial Snapshot ......................................................................................................................................... 68 Management Discussion and Analysis ........................................................................................................ 71 Summary of Financial Results ........................................................................................................................ 80 Financial Statements ......................................................................................................................................... 82 Governance .......................................................................................................................................................... 97 Board of Trustees ................................................................................................................................................ 99 Committee Members ......................................................................................................................................... 100 Fund Staff ..............................................................................................................................................................101 Our Lending Partners ........................................................................................................................................ 102 How the Fund Works ......................................................................................................................................... 104 Glossary of Terms ............................................................................................................................................... 106 List of Acronyms .................................................................................................................................................. 107 Contact Us ............................................................................................................................................................ 108 Our Homes, Our Way | FNMHF 2017 Annual Report 5 MESSAGE FROM THE CHAIRPERSON OF THE TRUSTEES The brainchild of the Kelowna Accord, the First Nations Market Housing Fund is a First Nation idea brought to reality to help First Nations families overcome the barriers to home ownership. In 2018, the Fund enters its second decade having developed extensive expertise to leverage the power of home ownership to help drive Canada’s reconciliation efforts. Social and economic reconciliation go hand in hand. The home – a stable place to raise a family and, through ownership, a means to increasing wealth and economic security – is where reconciliation will have its greatest impact. The theme of this year’s Annual Report is Our Homes, Our Way because it reflects the assertive role First Nations leaders across the country are taking to provide local access to home ownership as a key element of community building. First Nations communities continue to lag behind the rest of Canada in most social and economic determinants, including the opportunity of home ownership.
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