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Ontario Mortgage and Housing Corporation: Mandate Letter 2018-2019

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Ministry of Housing
Minister Responsible for the
Poverty Reduction Strategy
Office of the Minister
777 Bay Street, 17h Floor
Toronto ON M5G 2E5

September 29, 2017

Ms. Janet Hope
Chair
Ontario Mortgage and Housing Corporation
777 Bay Street, 14th Floor
Toronto ON M5G 2E5

Dear Ms. Hope:

I am pleased to write to you in your capacity as Chair of the Ontario Mortgage and Housing Corporation (OMHC). Pursuant to the requirements of the Agencies and Appointments Directive, this letter sets out my expectations for OMHC for the 2018-19 fiscal year.

Ontario's board-governed provincial agencies are vital partners in ensuring the delivery of high quality services to Ontarians. The people of Ontario depend on you to provide leadership to your agency's board, management and staff. Together with your fellow board members, the people of Ontario rely on you to establish the goals, objectives and strategic direction for the agency consistent with your agency's mandate, government policies, and my directions, where appropriate. I thank you for your willingness to serve.

As you know, pursuant to the Ontario Mortgage and Housing Corporation Act, OMHC's responsibilities are primarily financial in nature and relate to the corporation's former role in delivering government programs. This includes providing debt service administration to the Canada Mortgage and Housing Corporation regarding provincial debentures relating to public housing properties. OMHC's mandate also includes:

  • administration of the programs prescribed under the Act
  • administration of the Affordable Home Ownership Program and its revolving loan fund
  • administration of certain loans advanced to twelve colleges and universities for the development of on-campus student housing
  • an obligation to indemnify the Canada Mortgage and Housing Corporation with respect to defaults under certain non-profit housing mortgages

Continuing to improve agency accountability, transparency and effectiveness supports the delivery of a balanced 2017 Ontario Budget for a stronger, healthier Ontario. To ensure that Ontario's public servants provide services to Ontarians with confidence, I expect OMHC to focus on:

  • effectively managing OMHC's expenses to align with the government's fiscal objectives and to ensure the efficiency and sustainability of the board
  • managing the operational, strategic and financial risks encountered by OMHC to help ensure business objectives are met
  • maintaining superior client service
  • maintaining an effective system of internal controls and compliance with applicable requirements to promote transparency and accountability

Sincerely,


Peter Milczyn
Minister