By David Wiwchar

Provincial funds coming to Alberni

Provincial funds coming to Alberni

Feb 23, 2024 | 10:12 AM

Families and small businesses in the Alberni Valley will benefit from an election-year budget that boosts spending.

The budget delivered by Finance Minister Katrine Conroy also includes a flipping tax on homes owned for less than two years to deter short-term market speculators.

Mid-Island Pacific Rim MLA Josie Obsorne says there will be more provincial support coming to Port Alberni to help with housing initiatives.

“For the next six years, new eligible purpose-built rental buildings – which we’re doing a lot of here in Port Alberni – are going to be exempt from the property transfer tax as well,” she said. “This is on top of programs that have already been announced like BC Builds, building more homes in partnership with cities like Port Alberni which is really known in our government as a YIMBY town – yes in my backyard. We want more housing and housing for all income levels here and we’re going to continue to support that.”

Obsorne says there will also be more provincial support coming to Port Alberni to help with health issues, from attracting more doctors to addressing community needs in battling the overdose crisis.

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“Community based stabilization is top of mind for Port Alberni and seeing the work that’s coming out of the local Port Alberni CAT team and from the Tseshaht First Nation leading a response to the opioid epidemic that were experiencing here,” she said. “This is something that’s being heard loud and clear and we’re going to continue to work really hard on.”

The budget details come as the province forecasts a ballooning deficit of 7.9-billion dollars and economic growth that falls below one per cent.