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

$3 million fund to enhance digital libraries across British Columbia

Libraries across British Columbia are getting $3 million to enhance their digital services.The Ministry of Education says the one-time investment will permit greater access to online learning and reading resources.

$3 million fund to enhance digital libraries across British Columbia

A Maple Ridge Boy Scout is getting world-wide attention for using his 3D printer to create surgical ear masks

A Boy Scout from Maple Ridge, British Columbia is getting world-wide attention for using his 3D printer to create "ear gears" for surgical masks during the COVID-19 pandemic. Heather Roney says her 12-year-old son, Quinn Callander, has created several hundred of them from home so far and donated them to health-care workers around the world. The device, which goes behind the head and is also called an ear guard, has hooks that attach to the straps of a mask and help take the pressure off the backs of the ears.

A Maple Ridge Boy Scout is getting world-wide attention for using his 3D printer to create surgical ear masks

Vancity temporarily cuts credit card interest rates to zero for those in need

Vancity is temporarily cutting credit card interest rates to zero and deferring minimum payments for those facing financial difficulty as a result of COVID-19.

Vancity temporarily cuts credit card interest rates to zero for those in need

Assault charge for Coquitlam man accused of coughing on police

Police say a 24-year-old man from Coquitlam, B.C., has been charged with assaulting a police officer after allegedly coughing towards three officers during an arrest. RCMP Cpl. Michael McLaughlin says the man was arrested while police were investigating an alleged break and enter on Monday.

Assault charge for Coquitlam man accused of coughing on police

Trudeau promises 'relaxed' rules for wage subsidy, more support for student jobs

Prime Minister Justin Trudeau says the federal wage-subsidy program for employers hit by COVID-19 will have looser standards than previously announced. Rather than having to show a 30-per-cent decline in revenues, he says they can show a 15-per-cent decline in March, and can compare their revenues to previous months rather than the previous year.

Trudeau promises 'relaxed' rules for wage subsidy, more support for student jobs

All Provincial Parks in BC are closing to encourage social distancing

Provincial parks shut down due to pandemic in order to further help with social distancing just ahead of the long weekend. The province said the decision to close all parks was informed by feedback from the RCMP, local governments and search-and-rescue organizations.