Operating Budget: The annual budget for a non-profit or cooperative housing development. The budget forecasts the costs of operating a development, based on income and expenses, and is used to determine the subsidy level BC Housing provides each month to run the building. Public Housing: Housing that is jointly funded by the provincial and federal governments and predominantly managed by BC Housing. Most of these developments were constructed in the 1950s and 1960s. Rent Assistance: Rent supplement agreements with private landlords as well as housing allowances paid directly to households in the private market. Social Housing: Includes both public housing and housing that is owned and managed by non-profit and cooperative housing providers. Subsidized Housing: Encompasses all types of housing for which the provincial government provides a subsidy or rent assistance, including public, non-profit and cooperative housing, as well as rent assistance for people living in private-market housing. It also includes emergency housing and short-term shelters. Subsidy: BC Housing provides monthly subsidies to organizations to fund the costs of operating subsidized-housing units. The subsidy is based on the operating costs set out in the annual budget, less the total rents/housing charges collected from tenants. Subsidy payments include rent subsidies/repayable assistance and cover the mortgage payments, building maintenance and other shelter-related costs.
The Housing Registry: Centralized database of applicants’ information and housing providers coordinated by BC Housing. It allows individuals to apply for housing with multiple service providers using one application form.
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