Now that Quebec has moved to help first-time homebuyers, the opposition at Montreal City Hall wants the city to redirect municipal funds reserved for homebuyers toward\u00a0a rent-assistance bank instead.\u00a0<\/p>\n
Projet Montr\u00e9al argues the province\u2019s commitment to reimburse a portion of the \u201cwelcome tax\u201d makes an existing city-led program redundant \u2014 while low-income renters bear the brunt of the housing crisis.\u00a0<\/p>\n
\u201cThis is the kind of program that really, concretely helps people stay in their apartment,\u201d Projet Montr\u00e9al leader Ericka Alneus said in an interview Friday.<\/p>\n
The party will present a motion calling for the rent-assistance fund at Monday\u2019s city council meeting.<\/p>\n
In mid-April, new Quebec Premier Christine Fr\u00e9chette announced her government intends to reimburse part of the hefty \u201cwelcome tax\u201d<\/a> Quebecers must pay when purchasing property.<\/p>\n First-time homebuyers will be eligible for reimbursement of the first $5,000 paid in real estate transfer taxes and 25 per cent of the portion of the tax that exceeds that amount.<\/p>\n Municipalities will continue to collect the welcome tax on every real estate transfer, while the province reimburses buyers through a new tax credit.<\/p>\n The city of Montreal has offered a similar subsidy program for new homebuyers since 2018. Given the new provincial measures, Projet Montr\u00e9al feels the timing is right for the city to review the program and help renters instead.\u00a0The party says roughly $4.8 million was paid out through the program last year.<\/p>\n It suggests the city either create a new municipal rent-assistance fund or partner with a community organization such as the Maison du P\u00e8re, which already runs a rent-assistance bank.\u00a0<\/p>\n The Maison du P\u00e8re\u2019s program supports households at risk of eviction by paying up to three months of rent, which\u00a0can be repaid over five years. The fund helped 153 people avoid eviction last year alone. <\/p>\n