The CRD is asking local municipalities to identify areas for potential affordable housing units to be built after the federal government allocated $13.1 million to the region. (Black Press Media file photo)

The CRD is asking local municipalities to identify areas for potential affordable housing units to be built after the federal government allocated $13.1 million to the region. (Black Press Media file photo)

Feds allocate $13M to Capital Region to create affordable housing

CRD asking municipalities to identify areas that could be converted into residential units

The Capital Regional District is asking its partnering municipalities and electoral areas to identify appropriately zoned land or properties that meet the criteria for funding under the federal Rapid Housing Initiative (RHI).

The RHI was announced on Oct. 27, which allocated $13.1 million to the CRD to help house people experiencing homelessness in the region.

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A letter from the CRD asks local area administrators to identify land that could be contributed or is already for sale, that could be used in a regional effort to develop more affordable and supportive housing projects.

The CRD has to develop and submit an investment plan to the Canada Mortgage and Housing Corporation (CMHC) by Nov. 27 outlining the capital projects to be built as part of the program.

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The funding can be used for the acquisition of land and construction of affordable multi-residential modular housing units, converting non-residential land or buildings into affordable multi-residential housing units, or rehabilitating land and buildings in disrepair or abandoned, into affordable housing.

CRD staff are also in talks with BC Housing to explore the potential to leverage the funding with other provincial programs.

Once the project is approved, the CRD only has 12 months to complete the units and have them occupied. If the CRD doesn’t complete the project within that timeline the CMHC can request that unused funds be returned.


 

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