Affordable Housing DevelopmentPrograms & Resources

Stephanie AllenSenior Project Officer

Tumbler Ridge October 10, 2013

2013 Northeast British ColumbiaCommunity Coal & Energy Forum

Housing Continuum

BC Housing - Development Services• Deliver housing units

through funding programs including Community Partnership Initiative program

• Work with non profit housing providers, other government entities and private sector

• Provide interim construction loan and long-term take-out/mortgage financing

• Develop design guidelines & construction standards

Advice

Partnerships

Funding Program Delivery

Project Feasibility Funding

CPI Financing

Direct Delivery of

Housing

Project Oversight

Builder/ Architect Community

Program Delivery• Program Frameworks • Project Selection• Development/Construction Resources• Support/Monitoring/Oversight

Project Delivery• Understand Local Housing Needs• Connection to Community &

Services• Lead the Development Process• Ongoing Operations

Non-profit Housing Development Model

Non Profit Society

Development Consultant

BCNPHA

BC Housing

Development Sector

Health AuthoritiesPersonal Care

Provincial GovernmentFacilitation/Coordination,

Financing and Rental Assistance

Community Based Housing Delivery

Federal GovernmentCapital Grants and Project

Funding

Non Profit and Private SectorDesign, Build, Own and Provide

Equity

Housing Partnership Model

Local GovernmentZoning and Planning Tools,

Housing Grants, Land Donations and Incentive Programs

BC Housing and Peace River Region

• Vancouver Olympic Legacy program – Surerus Place, Chetwynd

• Transitional Housing - Cedar Inn, Fort St. John

• Seniors Rental Housing Initiative – Fort St. John, Tumbler Ridge & Taylor

• Several CPI projects in the proposal stage

• Current Need and Demand in the Peace Region

* All financing subject to review and approval of BC Housing standard loan terms and conditions.

Community Partnership Initiatives (CPI)

Construction Financing*• Up to 100% interim

financing during project development and construction;

• Treasury Rate – currently less than 1.5%;

• No requirement for loan insurance;

• Nominal 1% loan fee.

Take-Out Financing*• Up to 100% financing; • Competitive bulk rate

arranged by BC Housing tender process;

• CMHC loan insurance @ $75/unit;

• Ability to offer 35 year amortization on new construction.

* All financing subject to review and approval of BC Housing standard loan terms and conditions.

Opportunities for Worker Housing Industry• Leverage BC Housing financing and development support

through partnerships with Non-profit housing providers to build a mix of workforce and affordable housing

• Create community legacy opportunitiesMunicipalities• Partner with NDIT to create a Revitalization Tax

Exemption Bylaw providing market/non-profit housing developers with incentives

• Enter into MOU with BC Housing to establish affordable housing framework for design, approvals, and preconstruction work required on municipal sites

Q & A

Stephanie AllenSenior Project Officer