The SHOW Board of Directors enthusiastically committed themselves to personally donate $50,000 towards the upcoming Capital Campaign for the new 402 Erb West affordable housing project. It is important that the community see the commitment of the Board to this very important housing project. The total project will cost $2.2 M and to date we have commitments of $1.78 M or 80% of the total project. With the commitment from the Board of Directors our Fundraising Goal of $420,000 now remains at $370,000.
The Board of Directors consists to people who believe strongly in the vision that ‘affordable housing and supports should available to all.’ To that end, the Board enthusiastically demonstrated its belief that housing is a fundamental right for all people living in Waterloo Region.
The budgeted capital cost of 402 Erb St. is $2.2 million. To date, SHOW has secured capital commitments in excess of $1.78 million, representing 80% of the total project budget, including commitments of:
•$1.13 million through the Region’s Affordable Housing Strategy and the Province’s Investment in Affordable Housing for Ontario Program (2014 Extension)
•$180,000 through Region of Waterloo and City of Waterloo Development Charges grants
•Other commitments of capital, including SHOW equity and a long- term financing commitment
To learn more about the capital campaign, or to get involved, please visit our campaign page below: