Wednesday, December 17, 2014

Moose Jaw Times-Herald: Selling housing to fund housing

Coun. Don Mitchell speaks about his housing reserve
motion at the Dec. 15, 2014 council meeting. 
Times-Herald photo by Lisa Goudy
By Lisa Goudy

Selling off family housing units is now an investment in future housing projects.

The City of Moose Jaw’s investment in family housing units dates back to 1953. Over the last 61 years, councils have invested in a part of the social housing cost in a municipal partnership with the province and the federal government. As inflation increased, so did the city’s investment.

When one of those units is sold, the city’s portion of revenue from the sale will now be transferred into the housing reserve fund as of a motion passed at Monday’s council meeting.

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