SkiFreak Posted April 21, 2010 Report Share Posted April 21, 2010 Council considers slashing Olympic Village social housingBy: ctvbc.ca Date: Tuesday Apr. 20, 2010 6:13 PM PT The City of Vancouver could chop the number of social housing units in the Olympic Village in half in order to recoup some of the costs of the troubled project, Mayor Gregor Robertson announced Tuesday. "Core-needs" households would be left with 126 of the initially promised 252 social housing units in False Creek. The other 126 would be rented out at market rates to people whose income is below a certain level and who work in the health and public safety sectors in Vancouver. Robertson called the split "a good balance." "It maintains our commitment to affordable housing at the Olympic Village while at the same time mitigates the cost to the taxpayer," he said. The cost of the 252 units was originally estimated at $64 million, but has since been ballooned to more than $110 million. Robertson blamed the project's increasing cost to problems inherited from the previous council, and a lack of financial oversight... (continued) Full article with video: CTV BC: Council considers slashing Olympic Village social housing Link to comment Share on other sites More sharing options...
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