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| BACKGROUNDER 2 |
| May 7, 2026 |
Ministry of Housing and Municipal Affairs |
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- The Province, through BC Housing, provided a total of nearly $5 million for the project:
- Nearly $3 million from the Community Housing Fund
- A Cost Pressure Grant of nearly $2 million
- The Province is also providing $632,000 in annual operating funding.
- The Government of Canada, through the Canada Mortgage and Housing Corporation, contributed approximately $10.8 million through the Affordable Housing Fund (approximately $9.5 million in financing and $1.3 million in grant funding).
- Federal and provincial governments also provided $858,000 in joint funding through the Canada-British Columbia Bilateral Agreement under the National Housing Strategy.
- Comox Valley Regional District provided $100,000 for the project.
- Hornby Island Housing Society owns the land and has leased it to M’akola at a nominal rate.
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Contacts: |
Ministry of Housing and Municipal Affairs
Media Relations
hmamedia@gov.bc.ca |
BC Housing
Media Relations
media@bchousing.org |
