Memo shows Vancouver can afford social housing, say critics
Last Updated: Thursday, June 28, 2007 | 1:44 PM PT
CBC News

A document obtained under freedom of information rules proves the City of Vancouver can afford to fulfil its commitment to public housing, public housing advocates say.

The Pivot Legal Society and 2010 Watch released an undated city memorandum on Thursday, which they say show the city will earn millions more than originally anticipated from redeveloping Southeast False Creek for the 2010 Winter Olympics.

The memo from the project manager for the False Creek Olympic Village shows the city on track to net $64.5 million from development of the Olympic Village, which is now under construction.

Pivot spokesman David Eby said that's almost $15 million more than the earlier projected return of $50 million, and he wants the difference spent on low-income housing.

Read the rest here.
Read the memo here.