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Affordable Housing Development

Affordable Housing Development. Stephanie Allen Senior Project Officer. 2013 Northeast British Columbia Community Coal & Energy Forum. Programs & Resources. Tumbler Ridge October 10, 2013. Housing Continuum. BC Housing - Development Services.

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Affordable Housing Development

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  1. Affordable Housing Development Stephanie Allen Senior Project Officer 2013 Northeast British ColumbiaCommunity Coal & Energy Forum Programs & Resources Tumbler Ridge October 10, 2013

  2. Housing Continuum

  3. 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

  4. Non-profit Housing Development Model BC Housing Non Profit Society Development Consultant Development Sector Builder/ Architect Community BCNPHA • Project Delivery • Understand Local Housing Needs • Connection to Community & Services • Lead the Development Process • Ongoing Operations • Program Delivery • Program Frameworks • Project Selection • Development/Construction Resources • Support/Monitoring/Oversight

  5. Housing Partnership Model Non Profit and Private Sector Design, Build, Own and Provide Equity Local Government Zoning and Planning Tools, Housing Grants, Land Donations and Incentive Programs HealthAuthorities Personal Care Community Based Housing Delivery Provincial Government Facilitation/Coordination, Financing and Rental Assistance Federal Government Capital Grants and Project Funding

  6. 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

  7. 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.

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

  9. Q & A Stephanie Allen Senior Project Officer

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