Money runs out for Yukon home repair programs

Government incentives aimed at helping Yukoners make their homes more energy efficient have proven to be so popular that funding for the programs has run out.

The Yukon Housing Corp. has been offering interest-free loans for homeowners to repair or renovate their homes or rental properties, in an effort to reduce their energy costs. The loan programs, introduced last year, were supposed to run until March 31, 2009.

"These programs, especially the home repair programs, have been very, very popular, more so than projected, which is a good thing," Jim Kenyon, the minister responsible for the housing corporation, told the legislative assembly this week.

"The home repair programs and home ownership programs are fully subscribed for this year, and any new applications that come in would be reviewed in the next fiscal year."

Kenyon came under fire from opposition MLAs for allowing the loan programs to run out of money, especially while the Yukon government boasts a multi-million dollar surplus this year.

"With the economic downturn, [there's] the ability for the government to stimulate the economy," NDP MLA Steve Cardiff told CBC News on Wednesday.

"They are saying they have lots of cash in the bank. They're basically saying, you know, 'Sorry, the bank's closed.'"

But Premier Dennis Fentie, also the finance minister,brushed off criticisms from the opposition, saying more money will be coming.

"We will honour all applications to date, and there will be more to come in the new fiscal year," Fentie told the assembly.

It remains unclear how much has been spent on the initiatives to date. Budget figures show more than $5 million was allocated for them this year.