Funding requests for three affordable housing projects will be brought to city council for approval later this month.
At the February City of Lethbridge Economic and Finance Standing Policy Committee, four local non-profits brought forward financial requests for their Affordable and Social Housing projects that would serve a wide range of communities in Lethbridge. Housing Solutions Coordinator in Community Social Development at the City of Lethbridge Matthew Pitcher says the option the Standing Policy Committee chose to move forward with prioritizes funding to the groups who are “most shovel-ready.”
“We know that that’s how other grant funders are going to prioritize their funding. They’re going to look for projects that have zoning in place,” Pitcher says. “Not to say that those projects that aren’t shovel-ready aren’t valuable projects, they just maybe weren’t quite as far along.”
The recommended funding break down includes $500,000 to MyCity Care, $209,704.45 SettleEase Canada Foundation and $1,104,432.55 to the Green Acres Foundation. If city council approves the funding it will be contingent on the organization securing the remaining funding balance for the project by June 30th of next year, along with getting provincial or federal funding sources equal to or more than the city’s contribution and
have a development permit for the project.
My CityCare Executive Director Jennifer Tribble says their first apartment build will include 40 units and the organization is excited to move forward to the next steps.
“We know that it’s such a vital need in our community. We know there’s so many people that as much as we would love to help them, the first step for them is to getting into something that’s going to provide the stability, like housing,” Tribble says. “We’re very excited about our project and the next stage of it coming up is actually going to be the rezoning. So that’s going to be kind of the next thing.”
Pitcher says getting the projects completed is the most important thing right now.
“When I last looked, our vacancy rates were down to 0.6 per cent, so we are in desperate need of housing, and as the housing stock available declines, then corresponding increases in rental prices happen.”
“These groups have been working for a really long time. With one group in particular, I’ve been in conversation with them for nearly 18 months just to get to this point and there’s still a long way to go.”
He adds this is the first “first domino to fall in future steps.” The recommendation will be taken forward for approval at the council meeting on February 25th.
