Métis Home Ownership Program to Impact Manitoba Economy by Over $100 Million
Winnipeg, MB – The Manitoba Metis Federation (MMF) is proud to announce that Métis Citizens have contributed over $90 million to the Manitoba economy through the First Time Home Purchase Program (FTHPP) since the program’s inception in February 2019. Using the program, Métis Citizens have leveraged $72.5 million in mortgages and an estimated $17.8 million in additional economic spinoffs, which include purchases of furniture, appliances, and other necessities like lawnmowers.
“This is one of the most successful ventures the MMF has ever created,” said Will Goodon, MMF Minister of Housing and Property Management. “Through this program, we’ve had the opportunity to help make home ownership a reality for Métis families – and, in turn, stimulate the Manitoba economy and benefit all Manitobans.”
“But the real story is the continued massive economic impact here in Manitoba,” Minister Goodon continued. “With 516 Métis families approved for mortgage financing, the province founded by the Métis Nation will see $130-140 million in direct and indirect economic impact. And we see no reason to slow down.”
The FTHPP, managed and administrated by the Louis Riel Capital Corporation (LRCC), an MMF affiliate, provides Métis families with funding for down payments on the purchase of a home as well as purchase closing costs. To date, the LRCC has received 578 applications and approved 516 of them. The purpose of the FTHPP is to address housing needs, priorities, and challenges of Métis families across Manitoba.
“For many years, these investments were only a dream for many of our Métis families, but this new program has turned these dreams into a reality. The First Time Home Purchase Program began with just a $5-million investment from the Manitoba Métis Government and has already resulted in 335 homes being purchased to date,” commented MMF President, David Chartrand. “With 181 homes yet to be purchased, this investment from the Métis Government will continue to have a multi-million dollar direct and indirect impact on local realtors, contractors, bankers, and suppliers.
“The Métis continue to contribute and play a pivotal role in Manitoba’s economy and economic recovery from COVID. Great leaders across this province such as entrepreneurs, investors, educators, various professionals, and those serving as elected officials are eager to be partners with the Métis Government as they see the value of the lasting positive impacts the Métis have,” concluded President Chartrand. “The MMF is committed to significant investment in families, communities, and this province. We are an economic force not to be ignored.”
For more information on the FTHPP, visit www.lrcc.mb.ca/first-time-home-purchase-program.
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Believe in Yourself; Believe in Métis.
The Manitoba Metis Federation (MMF) is the democratic self-governing political representative for the Métis Nation’s Manitoba Métis Community. The Manitoba Métis Community is Canada’s Partner in Confederation and the Founder of the Province of Manitoba.
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