The Manitoba government is investing $176.5 million over the next five years to create a Rental Housing Construction Incentive (RHCI) to support more housing development for Manitobans, Premier Wab Kinew and Housing, Addictions and Homelessness Minister Bernadette Smith announced on November 6.

"Our government is helping more Manitobans get onto the housing ladder and take that first step toward stability and opportunity," said Kinew. "For too long, affordable rentals have been out of reach for working families and seniors. By creating this incentive, we're unlocking new housing supply and making sure every Manitoban has a fair shot at a safe, affordable place to call home."

The RHCI is a financial incentive offered to private and non-profit housing developers to support construction of new rental housing across the province including affordable units for low- and moderate-income households. It provides refundable tax credits of $8,500 per new rental unit, with an additional $5,000 available for affordable units.

"Every family deserves a safe, stable place to call home," said Smith. "By creating this new RHCI program, our government is supporting housing development to meet demand, so more Manitobans can build better futures for themselves and their children with dignity, security and opportunity."

Affordable units under the RHCI must meet rent thresholds set annually by the Manitoba Housing and Renewal Corporation (MHRC) and be occupied by households with incomes below provincial limits - currently $67,900 for households without children and $90,500 for households with children or dependents.

Under the terms of the program, projects must continue to qualify as rental housing for 10 years and during that time, the number of units must not fall below the number for which a tax credit was received. Projects must include a four-unit minimum to qualify.

"The RHCI marks a significant step forward for our province," said Nathan Janzen, owner of Janzen Projects Inc., a local developer with a project that has been approved for the tax credit. "This program enables us to continue looking after Manitoba's seniors by providing them with access to top-tier multi-family housing - spaces designed with their dignity, comfort and well-being in mind."

For more information on the RHCI and how to apply, contact Manitoba Housing or visit https://gov.mb.ca/housing/progs/rental_housing_tax_credit.html.