Couple of days after the BC government comes out with this gem: "The Province is purchasing another six single room occupancy (SRO) hotels with 330 units in Vancouver to reduce homelessness and help protect affordable housing stock for those most in need..."
Tyee does the math and realizes that the $250 million "Housing Endowment Fund", which was supposed to generate "interest estimated at $10 million a year" and be used to "house homeless and the elderly" has only used up $2.65 million in total.
The amount of the $10 million that actually went to homeless and elderly funded housing? $650,000. To 3 programs. 2 in Victoria.
Or roughly 6.5% of the 10 million that's just sitting around waiting to be used.
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