The government and Columbia Basin Trust are investing $5 million in affordable housing in the Columbia Basin over the next three years.
As a result of federal and provincial investments, a new program, the Affordable Rental Housing initiative (ARHi), will soon be available in the Columbia Basin region for households in need. Columbia Basin Trust (CBT) has also partnered with the Province in this initiative to deliver essential affordable rental housing.
Through the Canada-British Columbia Agreement for Investment in Affordable Housing 2011-2014, the Government of Canada and the Province of British Columbia are providing a combined investment of $5 million over three years to support new affordable rental housing projects in communities across the Columbia Basin. Through a separate funding agreement with the Province, CBT is contributing a further $5 million to this initiative.
“Our government is committed to developing and implementing local solutions to local housing challenges,” said the Honourable James Moore, on behalf of the Honourable Diane Finley, Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “Through this new program, seniors and families of Columbia Basin will have access to affordable rental housing that meets their needs.”
“This is a wonderful announcement for our region,” said Bill Bennett, MLA for Kootenay East. “Columbia Basin Trust is such an important player in all of our communities and it is gratifying to see the Province working so well and so collaboratively with CBT on such an important issue.”
Details on how to apply for the Affordable Rental Housing initiative and request for proposals for the procurement of potential affordable rental housing projects will be available in Spring 2012.
“Our partnership with the provincial government represents a unique opportunity for CBT to help address a priority issue for a number of Basin communities,” said Garry Merkel, CBT board chair. “We’re excited this partnership can help communities make affordable rental housing projects a reality.”
One of CBT’s strategic priorities is to assist Columbia Basin communities in effectively dealing with affordable housing issues and to support new housing initiatives. CBT has helped communities plan affordable housing projects, provided capital grants to projects and shares information on affordable housing issues.
CBT delivers economic, social and environmental benefits to the residents of the Columbia Basin. To learn more about CBT programs and initiatives, call 1 800 505-8998 or visit: www.cbt.org