It is with pleasure that BC Non-Profit Housing Association and the Co-operative Housing Federation of
BC submit our Budget 2022 consultation paper. We recommend the Select Standing Committee on
Finance and Government Services consider the following proposals to strengthen housing affordability
in BC:
- Move up $4.2 billion in housing supply investments so it can be spent immediately. The provincial
government has $4.6 billion planned in housing investments between 2022 and 2028, we would like
to see $4.2 billion of that money moved up to the 2022-2023 budget cycle to address immediate
needs. - Commit $500 million in capital funding to develop a provincial rental housing acquisition strategy,
that helps non-profit and co-operative housing providers in the community housing sector to
acquire rental housing stock as it comes up for sale on the market. - Dedicate $10 million to off-set Property Transfer Tax on land lease renewals to preserve current
levels of affordability for homes on land with expiring land leases in 2022-2023.
Taken together, these proposals will ensure that British Columbians have increased access to affordable housing and that their housing is affordable, safe, and in a livable state of repair.