Kenawind
About
Ke-nawind Housing Development Authority began in 2002 and is a self governed structure with three board members- one from each community in Lac Seul First Nation.t
The Authority manages 120 rental units under Sec. 95 of Canada Mortgage and Housing Corporation (CMHC). Capital funding loans for rental projects are provided through CMHC Direct Lending or through approved lenders (banks, Aboriginal capital corporations, credit unions). The loans are insured through the National Housing Act, and guaranteed by Aboriginal Affairs and Northern Development Canada (AANDC) and Lac Seul First Nation. And while CMHC provides subsidy assistance for a period of time for the construction and operation of the houses, it’s not enough to cover all costs. Rent is charged on all units to cover the remaining costs.
Home ownership program
In addition to rental units, there is a home ownership program available to eligible community members. CMHC provides loan insurance to an approved lender for homes located on-reserve. A loan agreement is made with approved lenders that is secured through a band council resolution and a Ministerial Loan Guarantee obtained through AANDC. If loan repayments are not met by the borrower the outstanding balance is paid by
AANDC, which they then recuperate from the Band.
The approved lender helps prospective home owners prepare the application package, which is submitted to CMHC for approval.