Roy L Hales/ Cortes Currents - The Strathcona Regional District (SRD) is looking into the possibility of setting up a housing service to access funding for affordable housing projects.
In the staff report prepared for the June 14 Board meeting, it states that 45% of the renters in the SRD are paying more for housing than they can afford. Many homeowners are facing similar affordability problems.
“Both the Comox Valley Regional District and the Cowichan Valley Regional District currently access requisition taxes for a housing service fund, to be accessed by local non-profit housing providers and other partners to support housing projects.”
Staff is not suggesting the SRD increase taxes, the proposal is to set up a service which would allow it to access grant money.
The need for an additional 41 units in Area D (Oyster Bay to Buttle Lake) was cited as an example of what the SRD could do if this service were set up. The SRD could apply for a Housing Accelerator Fund grant that could potentially access between $820,000 and $1,599,000 of funding for the proposed development.
The motion to proceed with investigating this proposal passed, with one opposing vote.
