Victoria, BC - The Capital Regional District (CRD) Board today voted to amend the Regional Housing Trust Fund (RHTF) and remove both the automatic expiry of the Bylaw and the previous five year term of the fund. The bylaw will now provide continued participation in the fund. The Southern Gulf Islands Electoral Area has also agreed to join the trust fund service, bringing the number of participating municipalities and electoral areas to eleven.
The RHTF, a key implementation initiative of the Regional Housing Affordability Strategy, was established by the CRD Board in 2005, in recognition of the importance of housing affordability in the Capital Region. The fund provides grants for “bricks and mortar” in the acquisition, development and retention of housing that is affordable to households with low or moderate incomes in the region.
“The amendment of this bylaw will ensure the continued acquisition of affordable housing and help for the homeless and under housed in the Capital Region,” said CRD Board Chair Geoff Young. “I am pleased to see both the sunset clause struck from the bylaw and the added participation of the Southern Gulf Islands.”
Between 2005 and 2009, $3.4 million has been granted toward capital assets valued at $51 million. Included in these accomplishments are 179 units of new construction and 117 units of acquired or retained housing, for a total of 296 units of affordable housing. Housing was provided for over 70 families and over 220 singles in the Capital Region.
“Affordable housing is a regional issue,” said Chair of the Capital Region Housing Trust Commission Chair Christopher Causton, “It’s good to see the Southern Gulf Islands Electoral Area commit to solving the issue of homelessness and affordable housing; we can all do our part in this regional challenge.”
The Housing Trust Fund currently costs residents approximately $6.50 per household per annum and translates into over $12.8 million of affordable housing when partnered with senior government, community and private sector contributions.
“The Southern Gulf Islands is pleased to participate in the Housing Trust Fund,” said Southern Gulf Islands Electoral Area Director Ken Hancock. “Affordable housing is becoming more and more of an issue on the Gulf Islands; we will do our best to ensure the islands are a viable place to live for people of all levels of income.”
For further information please contact:
Sheila Taylor, Manager, Community Relations
CRD Corporate Communications