Housing Covenants

One of the tasks of the Affordable Housing Working Group was to develop housing covenants, which are legal tools to ensure that the affordable housing units for purchase remain perpetually affordable.

The covenants are registered on the title of the property in favour of the Bowen Island Municipality, and give the Municipality to right of first refusal and an option to purchase. The are a strong and effective tool to ensure the conditions that protect the affordability of the unites for the benefit of future purchasers.

The two covenants can be downloaded as a single document here.