08/05/2014 10:58 EDT | Updated 10/05/2014 05:59 EDT

Governments announce $102 million more for affordable housing in Nova Scotia

HALIFAX - The federal and provincial governments have announced a five-year $102 million extension to a joint affordable housing agreement in Nova Scotia.

The new deal is to be cost shared evenly between the two levels of government.

The extension to the original $61 million deal was announced today in Halifax by federal Justice Minister Peter MacKay and Nova Scotia Community Services Minister Joanne Bernard.

The federal portion of the funding comes from Ottawa's Economic Action Plan 2013.

MacKay says the funding will allow the province to direct resources towards housing that best meet local needs and priorities.

Under the program Housing Nova Scotia will assist low and modest income families make home repairs, while various initiatives under the province's housing strategy will provide a range of affordable housing options for owners and renters.