January 28th, 2013
One of the functions of the Real Estate Foundation of British Columbia (REFBC) is to fund activities such as real estate related research and various land use initiatives. REFBC awards grants throughout the year – last year providing 67 grants in BC valued at $2.34 million. Foundation Facts: a newsletter that provides a snapshot of the REFBC and its actions reported this week that during 2012 six Vancouver Island projects were awarded grants with a total value of $158,000. In the Victoria Real Estate Board’s (VREB) coverage area 10 grants were funded by REFBC to the tune of $190,000 last year.
Created in 1985, the Real Estate Foundation of British Columbia receives its funding through interest income from deposits made by real estate buyers into brokerage trust accounts and uses these funds to support its activities and grant programs. Since its inception more than $60 million worth of grants have been approved for non-profit projects across the province.