Creston Valley Housing Corporation

Call for Applicants to the Creston Valley Housing Corporation Board of Directors

Housing remains a key priority for our community. With the rising cost of living in the Creston Valley, it’s essential that residents have access to diverse and affordable housing options that meet their needs. The Creston Valley Housing Corporation is looking for committed and innovative individuals to join their Board of Directors, helping to shape the future of attainable housing in Creston. Your leadership can create a lasting difference in our community’s future.

Find out more and apply HERE

Click on the image to find out more.

At the Regular Council Meeting of April 9, 2024, Council officially adopted the name "Creston Housing Corporation" to be reserved as the registered business name of the corporation.

Every business corporation, including public corporations, must have a unique name that meets the requirements of the Business Corporations Act and regulations. A new municipal corporation’s name should clearly reflect the public nature of the enterprise and its intended business purpose. Three elements need to be in the corporate name: distinctive element (geographical), descriptive element (nature of business) and corporate designation (Corporation, Limited, etc.). The name “Creston Housing Corporation” was proposed to Council on March 27th during a housing corporation workshop and received preliminary approval by Council.

With the official adoption of the name, Staff have requested the name be reserved with British Columbia Registries and Online Services in preparation of an application to incorporate the housing corporation later this year.

During a Special Committee of the Whole, members of Council reviewed the initial draft of the housing corporation business model. This culminates work that started last summer, when Council initially directed Staff to develop a business model for consideration.

Key highlights include:

• Corporation will be governed by a board of directors that include four members of Council and three appointed members;
• The Town will use the Growing Communities Fund Grant to provide the start-up funds for the organization;
• A partnering agreement will be established between the Town and the new corporation to manage the initial investment and any donation of land from the municipality;
• The mandate of the corporation will be to facilitate the development of housing, invest in direct delivery of housing and manage housing developed and acquired; and
• The corporation will focus on developing attainable housing in rental and home ownership.

The business model in its entity is located on this site for public review. As this is a draft document, it is subject to changes prior to adoption and approval by Council.

Staff will be preparing a public consultation plan for the next two months to inform the public and solicit feedback on the business model.

At the July 11, 2023, Regular Council Meeting, Council directed staff to prepare a business case on the development of a municipal housing corporation including identifying funding opportunities through Provincial and Federal entities.

This report comes after the Housing Supply Act was implemented by the Provincial Government requiring municipalities to work towards targets in housing development. It is not clear the level of progress expected by the Province in housing development, but the new legislation allows the Province to intervene in approving developments contrary to zoning or official community plan bylaws.

Since 2017, the Town has taken actions that encourage diverse housing developments, starting with the Official Community Plan. Within the plan, there is an encouragement of smaller homes on smaller lots which was identified through significant input by members of the public. Further, the Town has completed the other initiatives to encourage housing development:

• Updated zoning bylaw allowing secondary suites whether attached or detached to primary dwelling;
• Increased density that can be built within a property;
• Adopted a tax exemption bylaw that provided 100% tax exemption on municipal taxes for the creation of new rental units;
• Completed a Housing Needs Assessment that provided projections on number of housing units required, as well as some of the complexity of the local housing crisis;
• Adopted a Rental Standards Bylaw to protect renters and provide guidance to minimum standards for landlords;
• Created the Housing Hub Website; and
• Completed a Creston Housing Action Plan that had 19 recommendations to further encourage housing development.

Studies have shown that in rural communities, policy change on its own does not result in increased housing. The creation of a housing corporation will allow the municipality to provide housing as a service.

Click here to read the July 11, 2023 Staff Report to Council.

Click here to read the "A Scan of Leading Practices in Affordable Housing".