Governors' Page

by Glenn Temes

Since the Real Estate Foundation’s creation in 1985, the Foundation governors have distributed over $25 million earned from real estate deposit interest. The grant amounts have risen from about $500,000 per year in 1988 to just over $3 million in the year 2000. Recently our income has dropped significantly due to the lowest interest rates in over 30 years. Fortunately our sound investment policy has allowed the Foundation to carry on the good work of supporting the non-profit activities of various organizations throughout British Columbia. The four themes of our mandate are:
• Housing & Finance,
• Environment & Land Use,
• Real Estate & Land Use Information for Communities, and
• Real Estate Industry Excellence.

One significant area of Real Estate Foundation involvement has been the Land Centre. We are currently working with the Alberta Real Estate Foundation on this project. This initiative has been a valuable partnering experience for our Foundation. In 1985 the Internet was a gleam in a researcher’s eye and although it is
difficult to imagine a world without a “web”, the Land Centre has been challenged with the arduous task of translating the real estate information and education needs of two foundations into virtual reality. If you have not been to www.landcentre.ca, then it is time to take a look at the future of land use information.

Guided by the Real Estate Act, the Foundation has taken great strides in supporting land use information. Our mandate is for the public and practitioners alike to be educated about all aspects of land use and real estate practice. Access to such information enables us to make informed decisions and create better communities. As a Foundation, blessed by the resources provided by hard-working real estate practitioners, not only can we dream, we can build.