The Comox Valley Regional District (CVRD) Board has approved the formation of the Comox Valley Housing Authority (CVHA) to facilitate the creation of more affordable housing within the region. Once established, the Authority will work collaboratively with non-profit housing societies, federal and provincial government housing agencies, and local governments to increase the supply of non-market rental housing.
This initiative is in direct response to the increasing housing affordability challenges being faced by households across the Comox Valley. ”We know that about one in every five households spends more than they can afford on housing with many low and moderate-income households spending crisis level amounts,” said Board Chair Will Cole-Hamilton. “This is a critical and urgent issue for our region and by creating a lean and purpose-driven organization, we can help unlock new housing that is within reach of workers, seniors and families.”
After researching various options and engaging with local non-profit housing societies, such as the Comox Valley Affordable Housing Society and M'akola Housing Society, the new Authority will initially be focused on three main functions: housing development through partnership, land acquisition, and regional affordable housing coordination. A key strategy for the Authority is to directly address the two largest barriers to new affordable housing projects – access to land and access to funding for early planning and design work needed to obtain federal and provincial grants to finance construction.
“The federal and provincial governments are investing billions in affordable housing but are looking for proposals that build housing at scale to increase the supply and reduce the per-unit cost,” says Cole-Hamilton. “By working in collaboration with community housing organizations in our region, the Comox Valley Housing Authority can help develop a pipeline of projects that are shovel-ready and shovel-worthy.”
The Authority will operate independently, but in collaboration with the CVRD. The Board of Directors will be comprised of CVRD elected officials as well as individuals with direct experience and expertise in the development or operations of private or non-profit housing.
Approval by the provincial government is required for local governments to establish corporations to provide services that achieve public benefits like affordable housing. Local government owned and supported housing organizations exist in communities across the country and within BC, such as the Whistler Housing Authority, Tofino Housing Corporation, Capital Region Housing Corporation and the Squamish Community Housing Society. While these local government-owned or supported entities each have unique housing mandates and services within their communities, they have all served as catalysts to attract and leverage investments by the federal and provincial governments.
The CVRD will now be applying to the Ministry of Housing and Municipal Affairs to incorporate the Authority before proceeding with its launch and recruitment of the Board of Directors and Executive Director.
For more information on this project, visit: www.comoxvalleyrd.ca/affordablehousing.
The Comox Valley Regional District is a partnership of three electoral areas and three municipalities operating on the unceded traditional territory of the K’ómoks First Nation, the traditional keepers of the land. The members of the regional district work collaboratively on providing sustainable services for the benefit of the diverse urban and rural areas of the Comox Valley.
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Media Contact:
Will Cole-Hamilton, Board Chair
wcole-hamilton@courtenay.ca