Chilliwack – It has been three years in the process and the pandemic has put plenty of pauses in the way.
On Tuesday, Chilliwack City Council is expected to give the final green light for the Paramount project.
The entire process started in 2018.
From the March 2, 2021 agenda:
At the November 17, 2020 Council meeting, a Public Hearing was held regarding the application concerning 46183 and 46187 Yale Road facilitate construction of a mixed-use affordable rental housing development funded by BC Housing targeting seniors and youth.
At the conclusion of the Public Hearing, Council gave 3rd Reading to all amendment bylaws and the application was subsequently held at 3rd Reading pending approval of BC Housing’s funding for the project. Since that time, the applicant has been made aware that CMHC (Canada Mortgage and Housing Corporation) has set specific benchmarks required for their National Housing Co-Investment Fund, of which the proponent/BC Housing intend to utilize to fund the housing project. One of the benchmarks is that CMHC will not accept funding applications until full zoning enactment (4th Reading/ Adoption) is complete.
That is expected on the March 2 meeting.