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
- 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
- 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.