CRD Launches Alternative Approval Process to Increase Borrowing for Housing
January 22, 2024
Victoria, BC – The Capital Regional District (CRD) has recently launched an Alternative Approval Process (AAP) to obtain regional consent to authorize the borrowing of $85 million for the purposes of the Land Assembly, Housing and Land Banking Service. Funds would be used to support future housing partnership opportunities and to increase the supply of affordable, inclusive, and adequate housing in the region.
CRD News Release - January 3, 2024
Prior to the CRD Board's adoption of this bylaw, the Community Charter requires elector approval in order to proceed. This AAP opportunity applies to all municipalities and electoral areas of the CRD, including Central Saanich, Colwood, Esquimalt, Highlands, Langford, Metchosin, North Saanich, Oak Bay, Saanich, Sidney, Sooke, Victoria, View Royal and the Electoral Areas of Juan de Fuca, Salt Spring Island, and Southern Gulf Islands.
The deadline for submitting signed elector response forms is 12pm (noon) on Monday, February 5, 2024. Forms must be received by the CRD by the deadline to be counted.
More information about the AAP, including copies of the elector response form, can be found on the CRD's website at https://www.crd.bc.ca/landbanking-aap.
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