The Local Trust Committee passed Third Reading of a rezoning application on Sept 29, 2018 and issued a development permit to IWAV, which will allow second and third phases of housing at the site to advance before a critical funding window with BC Housing closes. BC Housing has committed $6.1 million in funding promises to date, but IWAV risked losing its agreement with BC Housing if a two-year timeline could not be met.
Our Board Chair, Susan Dann has said that IWAV is hoping for shovels in the ground before the end of the year. Kisae Petersen and Dana Ypma also echo the gratitude expressed at the LTC meeting Sept 29, 2018, where they thanked the staff and the Trustees for the work put in on this project. The rezoning process took 16 months to accomplish and had considerable hurdles to overcome in that period.
The rezoning bylaw must still be approved by the Islands Trust Executive Committee, while Island
Health must approve a construction permit for the water system.