2009 Ontario Budget Should Encourage Home Ownership

REALTORS®: 2009 Ontario Budget Should
Encourage Homeownership
OREA has called on the Minister of Finance, the Honourable Dwight Duncan, to encourage
homeownership and promote greener homes and businesses in his upcoming Ontario budget.
“OREA’s 2009 pre-budget submission recommends policies that will help our economy by
helping thousands of low and moderate income Ontario families achieve their dream of
homeownership,” said Gary Zalepa Jr., Chair of OREA’s Government Relations Committee.
“When people buy homes they spend money on other goods and services, building businesses and
creating jobs.”
OREA’s submission recommends the creation of an Ontario First Time Home Buyers Grant that
would target low and moderate income applicants with down payment assistance.
“From lower levels of crime to the higher educational achievement of children, the benefits of
homeownership to families, communities and our economy are extensive,” explained Zalepa Jr.
“Encouraging homeownership is good government policy.”
OREA’s 2009 pre-budget submission also recommends that the provincial government help more
Ontarians improve the energy efficiency of their homes by strengthening the retrofit rebates under
the Ontario Home Energy Retrofit Program.
“We all have a shared responsibility to protect our environment by reducing our environmental
foot print,” said Zalepa Jr. “By strengthening the Home Energy Retrofit Program, we can help
more Ontario homeowners save money on their electricity bills while reducing harmful emissions.”
For businesses looking to invest in a new building, OREA recommended a new Land Transfer Tax
rebate to purchasers of Leadership in Energy and Environment Design (LEED®) buildings.
“LEED® certified buildings are on the cutting edge of energy efficiency,” declared Gary Zalepa
Jr. “A new Land Transfer Tax rebate for businesses that purchase LEED® certified buildings will
encourage more investment in commercial infrastructure that is good for our environment.”