City of Vernon Affordable Housing Advisory Committee Agenda April 2026
Provincial Rental Housing Corp to sign 60-year housing covenant
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Description
Provincial Rental Housing Corporation is slated to enter into a 60‑year housing agreement with the City of Vernon for a 48‑unit supportive housing development at 3201 24 Avenue. The covenant secures supportive rental units, enabling DCC waivers and a potential property tax exemption.
Contract Details
Vendor
PROVINCIAL RENTAL HOUSING CORPORATION
Agency
City of Vernon, Canada
Contract Type
OTHER
Document Date
April 18, 2026
Contract Term
60 years from date of housing agreement registration
Renewal Info
Runs with the land as a Section 219 covenant and housing agreement for a fixed 60‑year term; City to discharge the agreement after expiry. No renewal options described.
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