Governors' Page

by P. Dermot Murphy

When the Real Estate Foundation was established in 1985, it was predicted that its greatest challenge would be attracting sufficient grant applications for funding worthwhile projects. Every year the Foundation receives many applications of high merit that are enthusiastically approved by the Governors. However, there is room for more such applications.

One grant area I would like to see expanded is that of low-cost rental housing, particularly for homeless people and especially for homeless youth. The plight of the homeless has been worsened by economic constraints that have resulted in reduced government funding for social housing. The Foundation's policy with respect to housing initiatives has been refined over the years and now provides that the Foundation may act in any of the following ways:

• Be a lead or demonstration funder.
• Assist research, develop educational material, and share expertise.
• Focus on the housing needs of the homeless and near homeless.
• Consider funding for development of temporary shelter facilities, and short term operating expenses for those facilities.
• Consider capital grants for projects that will realize non-profit housing units.

The main article in this report provides further information on this subject, and the list of 1998 grants includes several supporting low cost housing. It would be wonderful if more real estate boards and associations followed the examples of the Kamloops & District Real Estate Association and the Victoria Real Estate Board who played such important roles in establishing shelter for street kids in their communities.