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ARTICLE · 12 MAY 2020

CMHC Releases Additional Information On The Canada Emergency Commercial Rent Assistance Program

Today, the Canada Mortgage and Housing Corporation ("CMHC"), which is the entity responsible for administering the program, has provided additional clarification on the mechanics of the CECRA.

CanadaCoronavirus (COVID-19)

In our previous bulletin " Federal Government Announces Joint Initiative with Provinces and Territories to Implement Canada Emergency Commercial Rent Assistance Program" (the "CECRA"), we addressed a number of questions of the CECRA that remained outstanding following the surprising (and welcome) announcement by Prime Minister Justin Trudeau.

Today, the Canada Mortgage and Housing Corporation ("CMHC"), which is the entity responsible for administering the program, has provided additional clarification on the mechanics of the CECRA.

CMHC also noted the following in its release, which we will continue to monitor over the coming days/weeks: 

For those property owners who do not have a mortgage, an alternative mechanism will be implemented. Further information will be outlined in the near future.

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