Time Frame

When our mortage is paid out in 2023, CMHC will stop providing housing subsidies to our members - the co-op will have to foot the bill.  The money which will not be going out for mortgage payments will, in turn, finance the housing subsidies.  However, co-ops are aging and will need expensive upgrading.  Co-op's are being encouraged by CHF to carefully plan for this step out phase by building up their Capital Reserves and to keep in mind Vision 2020, a series of videos and articles, featured on their web site.

Here's a link to one such co-op which is now undergoing their loss of subsidies:

http://www.ctvlondon.ca/2012/12/subsidies-gone/ 

Re-financing is being discussed as a possible solution to this financial crunch, but would aging co-op buildings be sufficient collateral for a long-term loan?  In addition to co-ops having to finance expensive structural repairs, they'd also have another mortage to pay off.  Is this sustainable?  

The Federal goverment might also be approached to provide subsidy funding.  To my mind this should be linked to co-op oversight by the Federal government, as I don't think co-ops will be able to go it alone.