End of HPO Reconstruction Program

By
Real Estate Sales Representative with for real estate results in the Tri-Cities.

As of July 31, 2009, the Homeowner Protection Office will no longer be accepting new loan applications for the Reconstruction Program.

All applications received prior July 31 will be reviewed by project on a first-come first-received basis, and those deemed eligible will be offered a no-interest repair loan provided that the building permit for their building envelope renovation is obtained by January 31, 2010.

The reconstruction fee of $750 per multi-unit building constructed for sale in the coastal climatic zone remains in place to continue to fund the program.

All other purposes and requirements of the Homeowner Protection Act ­­ - such as builder licensing and home warranty insurance - will remain in force, and relevant HPO programs and services will continue. This includes: licensing residential builders and building envelope renovators; administering owner builder authorizations; monitoring the performance of the third-party home warranty insurance system underwritten by the private sector; and, carrying out research and education.

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Rainmaker
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John Grasty
for real estate results in the Tri-Cities. - Port Moody, BC
Your Tri-cities REALTOR, neighbour and volunteer.

November 16, 2009:       Orders of the Day - Second Reading of Bills         

Bill 20 - Miscellaneous Statutes               Amendment Act (No. 2), 2009

Hon. M. de Jong: "I call second reading of Bill 20 and move that it be read a second time now." "Amendments to the Homeowner Protection Act will confirm that effective July 31, 2009, no new applications for financial assistance under the reconstruction program are being accepted or processed by the Homeowner Protection Office."

Hon. M. de Jong moved adjournment of the House.

Motion approved.       

Nov 20, 2009 03:03 PM #1
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