The Home Ownership Alternatives mission is to support the creation and continued ownership of housing for moderate income households that contributes to healthy and economically diverse communities.
HOA will be recognized as a pre-eminent creator of affordable ownership housing.
- Home ownership contributes to self-respect and healthy communities
- Moderate income households have a right to home ownership opportunities
- Affordable housing must be good quality housing
- HOA must be an accountable, ethical, inclusive and transparent organization
- HOA must demonstrate sound non-profit stewardship and be financially disciplined
- HOA must generate, preserve and use value created to develop future communities
- Meet income and demographic targets: 10% of purchasers to have low household incomes – below the 30th percentile for their communities; A further 15% of purchasers to have moderate household incomes – below the 50th percentile for their community; and 5% of all purchasers to be large families with 3 or more children
- Growth – increase the number of construction starts
- Federal, Provincial and Municipal policy and program support are in place
- Provide financial reserves to meet risk – rest of funds in play