City of Vancouver calls for non-profit housing boost
The City of Vancouver is encouraging the B.C. government to explore options for transitioning private rental homes into non-profit or co-op ownership, as one way to solve the housing affordability crisis.
The idea was among recommendations made in a letter from a senior Vancouver official to the province’s rental housing task force, which is expected to report in early December.
One of the more interesting parts of the letter is the city’s recommendation that the province explore how to transition private rentals into non-profit or co-op ownership.
The city’s letter says there may be opportunities to transition rental buildings to non-profit or co-op ownership when the existing private owner chooses to sell, by reducing or waiving capital gains taxes—if it is transferred into ownership by a non-profit housing society.
New social finance pledge from federal government
The Canadian government has announced that it will be investing $755-million in social financing, to help charities and non-profits find new, and potentially cheaper, ways of delivering social services.
A government-struck panel over the summer recommended the Liberals provide financing for groups that provide services such as housing the homeless or training hard-to-employ people with new skills.
The goal of social financing is to bring private money into social services governments are used to either providing themselves or paying for directly.
An example is a Quebec non-profit provides microloans to new Canadians to help build businesses, in amounts so small that they might not be worth it to a traditional bank.
City of Kamloops to meet with public market boosters
The newly incorporated Kamloops Public Market Co-op is meeting with the city and preparing to launch a membership drive, with the goal of building support and a business case for a year-round market at the city’s Riverside Park.
The co-op is selling memberships to consumers, non-profits and businesses.
Early proposed concepts for the market include indoor-outdoor market spaces, a rooftop garden, educational space, a patio and a community kitchen.
Advocates of the project say it would be the centrepiece of local economic development and community gathering, for Kamloops.
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