WHEREAS housing is a cornerstone for building strong communities and access to housing is pivotal to community stability it is a key determinant of a healthy community since where and how people live not only affects individual health, but the social and economic well-being and character of the whole community; AND WHEREAS affordable housing is a key component of a communitys social infrastructure; AND WHEREAS senior government funding for social housing has not been sufficient to meet the needs of many communities; AND WHEREAS local government lacks revenue sources appropriate to fund affordable housing: THEREFORE BE IT RESOLVED that: 1the Province of British Columbia provide a redistribution of a portion of the Property Transfer Tax to local governments on a municipal andor regional basis; and 2the funds collected be directed to housing trusts dedicated to the provision of affordable housing.
MINISTRY OF FINANCE This government has made housing the most vulnerable a priority: - Since June 2001, it has committed funding through BC Housing for the construction of 3,400 new units under the Provincial Housing Program. - By 2006, through the Independent Living BC Program, the government will provide an additional 3,500 independent living spaces providing support for frail seniors and persons with disabilities. - With the federal government, the province continues to subsidize the existing portfolio of 41,200 units, managed by BC Housing and non-profit housing providers. - The provincial government also provides rent assistance to about 15,100 households renting in the private market. 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. Furthermore, any potential changes to the tax system or new expenditure programs must be evaluated carefully within the context of the governments fiscal plan and against competing requests for funding.