Incentives to build affordable housing - InfoNews

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Incentives to build affordable housing

A forum on affordable housing was held in November to help developers understand what affordable housing is and what type of incentives are available for those looking to build it.
Image Credit: Kamloops Homelessness Action Plan
May 12, 2014 - 11:54 AM

KAMLOOPS - Builders in Kamloops now have even more incentive to provide affordable housing thanks to a city initiative meant to help eliminate homelessness in our community.

The city, in partnership with the Kamloops Homelessness Action Plan and HomeFree, is now offering packages for developers providing affordable housing. The package outlines all the current incentives and programs offered through all three levels of government.

Available online through the planning department or at the Development and Engineering Services front desk at 105 Seymour St., the package also outlines what affordable housing is and offers examples of other projects and resources.

Current incentives include tax exemptions and grants (up to $150,000) at the municipal level, financing at the provincial level and grants and loans at the federal level.

The program comes after a council workshop last June that looked at the need for affordable housing. Council looked at what affordable housing is, what type of housing is already available and the need in the community as well as investing in options like the rent bank. That workshop was followed up with a forum for developers in November looking at current options and incentives

In the last couple years the Elizabeth Fry Society has pushed for transitional, or second stage, housing for women and the RareBirds housing co-operative has been built. The United Church on St. Paul Street started a project to build a number of affordable housing units. As well, a complex in Brocklehurst offering affordable housing for seniors is under construction.

Related stories:

Kamloops groups helping less fortunate

Affordable housing key to homeless problem

Urban infill on rise

To contact a reporter for this story, email Jennifer Stahn at jstahn@infotelnews.ca or call 250-819-3723. To contact an editor, email mjones@infotelnews.ca or call 250-718-2724.

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