Vision
Every Bowen Island Community Member
has access to a safe and healthy home.
Mission
BIRCH creates diverse housing options
for Bowen Island, contributing to a sustainable community with a resilient population.
Values
• We are engaged, trustworthy and reliable.
• We act with integrity, respect and honesty.
• Our Work is innovative, professional and effective.
• With our stakeholders, we are transparent, inclusive and responsive.
Purpose
a) BIRCH will develop residential housing projects to be sold or rented at prices affordable to individuals and families with low or moderate incomes.
b) BIRCH may do the development work set out in a) in cooperation with, and with the aid from, municipalities, other government authorities, other not for profit entities and private developers
c) BIRCH will manage all rentals, sales and resales of these homes to qualified purchasers (“Qualified Purchasers”) (qualification to be determined by the household income range in a) subject to the
further criteria of any jurisdiction approving a project for development).
d) In managing rentals, sales and resales, priority will be given to Qualified Purchasers who already live or work in the jurisdiction where a particular project is located.
e) Covenants that run with the title will be registered on the title of each unit stipulating the means by which these units will be kept affordable for future purchasers as well as the first purchasers.
f) The resale price will be equal to the original purchase price plus appreciation in proportion to the Consumer Price Index (CPI) or some similar mechanism that reflects change in area median income.
g) BIRCH will have the ability to borrow funds for development purposes
h) BIRCH may own real and personal property as required to fulfill its purposes.
Revised: May 27, 2020