Posted: May 8, 2019
NOTICE OF ASSISTANCE
Pursuant to section 24 of the Community Charter, notice is hereby given that the District of Tofino (the District) intends to provide assistance to the Tofino Housing Corporation (THC) pursuant to a partnering agreement under which the THC will provide, on behalf of the District, the service of providing attainable and affordable housing for employees and residents within the District of Tofino and surrounding geographical areas.
The District intends to provide assistance to the THC by providing a guarantee of a demand loan in the amount of $353,780 from the British Columbia Housing Management Commission to the THC. The loan is for a five (5) year term with an interest rate of 0%. The funds are being borrowed by the THC for the purpose of funding predevelopment costs of a proposed affordable housing project.
For more information, please contact: