WHEREAS leadership, sustained funding, and strong partnerships are required to increase the supply and diversity of affordable housing across British Columbia; AND WHEREAS a provincial housing trust fund, similar to the Capital Regional Districts Regional Housing Trust Fund model, is needed to create a stable base of financial resources for the Province to provide subsidized housing in partnership with the private sector and other orders of government: THEREFORE BE IT RESOLVED that UBCM petition the Province to create Regional Housing Trust Funds from Property Transfer Tax revenues to provide subsidized, supportive and affordable housing for communities where affordable housing is not accessible for those with low incomes such as seniors, single parent families and people with disabilities; AND BE IT FURTHER RESOLVED that the funds levied for this purpose be kept within the regions they are levied from and disbursement be contingent on financial or in-kind local contributions.
Ministry of Finance The Province currently provides funding to local governments through a variety of sources and programs e.g. Traffic Fine Revenue Sharing, Towns for Tomorrow, Building Canada Fund, unconditional Small Community and Regional District Basic Grants. Any proposed transfer of tax revenue to local governments must be evaluated in the context of the provinces need to fund essential services. Generally, tax revenues are dedicated to fund particular programs only in limited circumstances because tax revenues fluctuate in ways that do not necessarily match changes in the funding needs of programs. Dedicated taxes also constrain the governments ability to adjust spending priorities as circumstances change. Since 2001, the Province has a strong record of investing in housing, and has built more than 14,000 new affordable housing units and another 4,176 are currently planned or under construction across BC. BC Housing is providing capital and operating costs to develop 32 supportive housing developments on city-owned sites. In addition, the Province has purchased 26 single-room occupancy hotels securing 1,550 rooms for people at risk of being homeless. Twenty-four of those hotels and approximately 1,400 of those rooms are located in Vancouver. BC Housing works in partnership with municipalities across British Columbia to develop new housing options for individuals who are homeless or at risk. These partnerships entail a variety of municipal and non-profit contributions including free land, reduced or waived development permit fees and property tax exemptions, and expedited approvals processes. Housing trust funds have been established by local governments and regional districts and have been used as effective tools as part of the package of municipal contributions to provide housing for the provinces most vulnerable. Examples include the housing trust funds established by the Capital Regional District, the City of Surrey and the City of Vancouver. In 201112, BCs budget for social housing is approximately 521.6 million, more than four times as much as in 200102 124.5m.