The directors of the Gabriola Island Community Investment Co-op (GICIC) would like you to know about our participation in the Low Income Rental Project just announced by the Gabriola Housing Society. We concluded a Loan Agreement for $15,000 with GHS at the end of May to finance the project for one and a half years. The monies were needed to move the conceptual ideas GHS had toward actual plans and actual buildings. This fit well with our co-op priority of creating low-cost housing for Gabriola. It also helped GHS pursue land and project management skills at a time where they had limited resources. We could not announce this project until today as per our agreement with GHS. The message below has gone out to their members and we forward this to you. There are other projects we are pursuing that are still developing appropriate business plans.
The GHS Board is delighted and excited to announce that through a very generous donation by Emcon Services Inc., we have acquired 8 acres of level land on Paisley Place, close to the village and transportation! Tests show there is a good supply of water, and there is already a small park nearby, with beautiful walking and biking trails to the school and clinic.
GHS is deeply grateful for this early community financial support that enabled us to do essential legal work and due diligence investigations. Legal work was required to get charitable status and investigate possible properties. Government funding was not available until we had land, and getting land, even donated land, costs money. THANK YOU GABRIOLA COMMUNITY INVESTMENT CO-OP for your early support of this important community project.
To view a map of the area and read more details about our hopes and plans for the site, please visit our new website at www.gabriolahousing.ca.