Regional Housing Service Being Considered
This service would be able to address complex housing challenges that cannot be solved by traditional private sector approaches to meeting housing needs.
The Strathcona Regional District (SRD) Board authorized the approval of the electors for a regional housing service to be obtained using an Alternate Approval Process at yesterday’s board meeting. Before asking for elector support the Board will need to obtain the approval of the Inspector of Municipalities following which the service establishing bylaw and loan authorization bylaw will be the subject of an alternative approval process. It is anticipated that the bylaws will be back from the Inspector’s office sometime in October for further consideration by the Board.
Key attributes of the proposed regional housing service include:
- the service could be used to invest in workforce housing, seniors housing, affordable (social) housing and others.
- the service would apply throughout the SRD to be used only where there is a need.
- the anticipated return on investment would be unique to each project and would be assessed before public funds are committed.
- the SRD would not automatically borrow capital funds or go into debt, but the borrowing authority would provide a source of capital when and if needed.
- the SRD could enter into agreements with housing societies and other entities to develop housing solutions that are customized to community needs and conditions.
The regional housing service would be able to address complex housing challenges that cannot be solved by traditional private sector approaches to meeting housing needs.
Additional information about the proposed regional housing service can be found at www.srd.ca/regional-housing-aap.
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Media Contact
Aniko Nelson – SRD Senior Manager, Community Services 250-830-6708 | anelson@srd.ca