On October 16th, Housing Central put forward its submission to the 2018 BC Budget Consultation. Building on the foundation developed in the September 2017 budget update, BCNPHA and the Co-operative Housing Federation of BC (CHF BC) will be seeking a commitment to invest in a ten-year plan to solve the affordability crisis. Specifically:
- Invest $4.1 billion to expand and $415 million to adequately maintain our affordable housing stock to alleviate system-wide affordability pressures.
- Invest $2 billion to reduce poverty and provide income supports to current renter households in core housing need and people experiencing homelessness.
- Create a provincial plan to dramatically reduce homelessness through the investment of $360 million, to be accessed by local communities who make a commitment to prioritize, coordinate and track housing placement for those most in need.
- Apply innovative solutions in partnerships with the Community Housing Sector, such as pursuing sector partnerships and asset aggregation, expanding shared equity home ownership and integrating land use planning and transportation funding.
- Invest $117 million to implement an annual provincial funding program in replacement of expiring federal operating agreements and associated subsidies that currently assist low-income co-op residents.
Taken together, these proposals will ensure that British Columbians have increased access to affordable housing and that their housing is in a safe and livable condition.
The full submission can be found here: Housing Central Budget Submission