Affordable Housing Development
Programs & Resources
2013 Northeast British Columbia
Community Coal & Energy Forum
Tumbler Ridge
October 10, 2013
Stephanie Allen
Senior Project Officer
Housing Continuum
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
Non-profit Housing Development Model
BC Housing
BCNPHA
Development
Sector
Non Profit Society
Development
Consultant
Program Delivery
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Program Frameworks
Project Selection
Development/Construction Resources
Support/Monitoring/Oversight
Builder/ Architect
Community
Project Delivery
•
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Understand Local Housing Needs
Connection to Community & Services
Lead the Development Process
Ongoing Operations
Housing Partnership Model
Non Profit and Private Sector
Design, Build, Own and Provide Equity
Health Authorities
Personal Care
Local Government
Zoning and Planning Tools, Housing
Grants, Land Donations and
Incentive Programs
Community Based Housing Delivery
Provincial Government
Facilitation/Coordination,
Financing and Rental Assistance
Federal Government
Capital Grants and Project
Funding
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
Community Partnership Initiatives (CPI)
Construction Financing*
•
Up to 100% interim financing
during project development
and construction;
Take-Out Financing*
•
Up to 100% financing;
•
Competitive bulk rate arranged
by BC Housing tender process;
•
Treasury Rate – currently less
than 1.5%;
•
CMHC loan insurance @
$75/unit;
•
No requirement for loan
insurance;
•
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Nominal 1% loan fee.
Ability to offer 35 year
amortization on new
construction.
* All financing subject to review and approval of BC Housing standard loan terms and conditions
.
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
.
Q&A
Stephanie Allen
Senior Project Officer