The City of Penticton is set to review a pilot project that would see a partnership with non-profits to help in the development of affordable housing.
A release from the city says the proposal would see non-profits able to access funds from the city’s Affordable Housing Amenity Reserve for pre-development work.
The city says this is expected to give non-profits a better chance at securing capital grants from other levels of government.
Steven Collyer, the City’s housing and policy initiatives manager, says the pilot project would also meet council’s priority of providing more attainable and accessible housing.
“We know the need for affordable housing is growing and one of the Official Community Plan-Housing Task Force recommendations was for the City to find new ways to support non-profit housing proponents to develop new units,” says Collyer in the release.
Penticton’s 2023 Housing Needs Assessment, there is a backlog of over 160 individuals seeking non-market housing.
The assessment also found that there is an estimated 172 to 286 subsidized housing units needed by 2031.
Jamie Lloyd-Smith, the City’s social development specialist, says they have heard from local non-profits that they need to have projects “shovel ready” and architectural plans are in place to be successful with capital grants.
“We’re expecting more funding opportunities from senior levels of government this year, and funders are increasingly looking for projects that demonstrate strong partnerships,” Lloyd-Smith says.
Lloyd-Smith explains that the pilot project would ensure non-profits are in a “stronger” position to receive funding to build much-needed homes.
A staff report headed to council on Tuesday is asking that $100,000 be transferred from the Affordable Housing Amenity Contribution Reserve for the one-year Affordable Housing Pilot Funding Program.
Next week’s council meeting will begin at 1 pm.
