CHF BC, with the support of CHF Canada and Vancity Community Foundation, and working with partner Vancity, developed its Refinancing and Renewal Program. The Program aims to accelerate, streamline and simplify the process for CHF BC member co-ops to access professional planning services and financing.
With the Program, co-ops will be able to:
- develop a comprehensive asset management plan (helping co-ops meet the 2020 Vision standard for long-term planning);
- optimize the life of (and costs associated with) their physical assets;
- carry out renewal and rehabilitation projects to ensure member safety, to maintain the integrity of co-op buildings, and to offer improvements as necessary and desired by co-op members; and,
- where recommended and feasible, obtain financing on preferred terms
(e.g. refinancing to replace government-backed loans, or loans to pay for renewal and rehabilitation projects, or to afford new leases or lease extensions).
If your co-op is interested in exploring these options we encourage you to read more about the Program.
Co-ops considering full or partial redevelopments, or those interested in establishing new co-ops should contact the Community Land Trust Foundation of BC ("The Land Trust").
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