Post on 24-Dec-2015
Affordable Housing DevelopmentPrograms & Resources
Stephanie AllenSenior Project Officer
Tumbler Ridge October 10, 2013
2013 Northeast British ColumbiaCommunity Coal & Energy Forum
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/ ArchitectCommunity
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 opportunities
Municipalities
• 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