Tag Archives: Housing Accelerator Fund

Misinformation About The SRD Housing Service

Former Regional Director Jim Abram may have been confusing the proposed SRD Housing Service with a Federal grant program when he criticized it during an interview with CKTZ News

Abram claimed that building permits are required under the new housing initiative, and the islands are ‘going to get nothing, most likely,  other than, you know, a little  less money in your pocketbook because it’s going to go into your taxes.’ 

He also spoke against the ‘affordable housing bandwagon’: ‘There’s only so many people that you can accommodate with your existing infrastructure.’

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SRD Seeks Electoral Approval To Raise Up To $10 Million For A Housing Service

The Strathcona Regional District (SRD) wants to set up its own housing service. They hope to raise up to $10,000,000 for applicable projects and non-profits. This is to be administered through loans, which projects must pay back, but would initially be funded through property taxes. The cost to individual homeowners is small, up to $25 a year for a house assessed at $500,000 until the service pays for itself. The SRD will be seeking your approval through an Alternate Approval Process. If 10% of the electorate (i.e.- 3,456 people) notify the SRD that they are opposed to this new service before 12:00 noon on Tuesday, January 2, 2024, it will be considered defeated and the SRD will have to consider other ways of raising the money.

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SRD looking into establishing a Housing Service

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. 

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