On July 5, the Green team headed to Toronto's west end to help out on a Habitat for Humanity build.
The ultimate result will be six beautiful homes for six families who need it most.
Volunteer and financial support makes a tremendous difference. In an impact study conducted in 2011 showed that homeownership through the Habitat for Humanity Toronto model transforms government subsidies into household equity.
The habitat model ensures that low income families own their own home which in turn has a two-fold effect: They no longer rely on the annual subsidy required to support affordable rental programs such as Toronto Community Housing. Also, it moves them from the position of receiving assistance to one of contributing to the City’s annual operating budget through the payment of property taxes.
In 2010, Habitat Toronto homeowners captured $26,840 in value in their home through principal repayments and market appreciation. That accumulation of equity not only builds a valuable asset for this generation, but for generations to follow, helping to break the cycle of poverty.
To learn more about From Subsidies to Sustainable Communities: The Impact of Habitat Homeownership on the City of Toronto study, please visit www.torontohabitat.ca/media/publications.
Today was a fantastic day with Habitat's group of devoted staff. Truly inspiring. We're thrilled to have been a part of this initiative.
Thank you to our team of staff who made it out to such an important event!
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