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Investigate External Support
Government programs may exist to assist. This is especially important for non-profit co-ops. Expect that assistance will come with obligations, often around affordability.
- Investigate pre-development funding if appropriate
- Explore whether your project might be eligible to submit an RFP to the Building BC Community Housing Fund
- Investigate potential financing (loans and grants):
- BC Housing (and its Housing Hub)
- CMHC (and its National Housing Co-Investment Fund – New Construction stream)
Note that funders traditionally support organizations that have experience. They also have policy goals they are hoping to achieve around matters of affordability, accessibility, energy-efficiency and more. If you seek funding you may need to ensure that these external goals can be met.
Equity co-ops will have less access to support, but will have more independence from rules set by others.
Photo credit: “supports” by Eli Duke used by CC BY-SA 2.0. Original image was cropped and toned with text added.