National

B.C. puts $2B in affordable housing loan program

Darpan News Desk The Canadian Press, 15 Apr, 2021 08:39 PM

The B.C. government says it's investing $2 billion in a low-interest loan program for builders of affordable housing.

Housing Minister David Eby says the financing will be provided to private developers and community groups through the province's HousingHub program, a division of BC Housing.

The housing will target projects for renters and buyers with average household incomes of $75,000.

Eby says the loans will be provided at below-market rates and in return, developers will commit to passing the construction savings on to residents through more affordable rents and housing prices.

He says the loans will be repaid once construction is complete, allowing HousingHub to reinvest in more units.

Finance Minister Selina Robinson says the funding is part of Budget 2021, which will be unveiled in full next week.

"For far too long, housing in British Columbia was viewed as a commodity and a tool for building wealth, rather than a basic necessity of a home," said Robinson, who was the housing minister before taking on the finance portfolio.

"The simple truth is, affordable housing is life changing."

Prev Next

MORE National ARTICLES

COVID in all regions of Canada as Nunavut sees 1st case

COVID-19 has now spread to every region in Canada, with Nunavut reporting its first case on Thursday, as Ontario reported its largest one-day climb in fatalities and the country's budget officer predicted a staggering $252-billion deficit. The case in northern Nunavut was identified in the 1,600-strong largely Inuit community of Pond Inlet on Baffin Island. The territory's chief public health officer, Dr. Michael Patterson, said a rapid response team was on its way to the community to help manage the situation.

COVID in all regions of Canada as Nunavut sees 1st case

Military identifies service members missing in deadly helicopter crash

The Canadian military is deploying a flight investigation team to look into the causes of a helicopter crash off the coast of Greece that has claimed the life of at least one service member and left five others missing. Prime Minister Justin Trudeau confirmed during a news conference that six people were aboard the Cyclone helicopter that went down in the Ionian Sea on Wednesday as the aircraft was returning to the Halifax-based frigate HMCS Fredericton from a NATO training mission.

Military identifies service members missing in deadly helicopter crash

Budget officer says federal deficit could top $252 billion

Parliament's budget watchdog says that it's likely the federal deficit for the year will hit $252.1 billion as a result of the COVID-19 pandemic, and could go even higher if emergency measures remain in place longer than planned. The figure is an estimate based on the almost $146 billion in spending measures the government has announced to help cushion the economic blow from the pandemic, estimated declines in the country's gross domestic product, and the price of oil remaining well below previous expectations.

Budget officer says federal deficit could top $252 billion

Canadian support for gender equality doesn't match reality, survey suggests

Canadian support for the principle of equal rights for women and men is among the highest in the world — but in practice, archaic attitudes towards gender roles are still alive and well both at home and around the globe, a new survey suggests. Respondents to the international Pew Research Center poll released Thursday expressed overwhelming support for the concept of gender equality — 93 per cent of Canadians surveyed ranked it as "very important," second only to Sweden at 96 per cent.

Canadian support for gender equality doesn't match reality, survey suggests

Feds to move on assault-style rifle ban

The federal government is poised to ban a variety of assault-style rifles, including the type used in the 1989 Montreal Massacre. During the fall election campaign, the Liberals said guns designed to inflict mass human casualties have no place in Canada.

Feds to move on assault-style rifle ban

B.C. defers stumpage fees to aid forest industry during pandemic

Premier John Horgan says in a news release the government will defer stumpage fees for the next three months to help forest companies with their financial liquidity during the crisis. Stumpage is the fee forest operators pay the province to harvest, buy or sell trees from Crown land.