Three half-duplex homes are up for grabs, each of which has been appraised at more than $1 million, while the price for lottery winners is $699,000 plus GST
Instead, you get the chance to buy a new three-bedroom home with a one-bedroom suite at a below-market price.Three half-duplex homes are up for grabs. Each has been appraised at more than $1 million, while the price for lottery winners is $699,000 plus GST.
They must have lived in the Alberni-Clayoquot Regional District for at least two of the past three years, work full-time in Tofino or be self-employed with 90 per cent of income derived from Tofino business, and not own any other real estate. A first-come, first-served system was rejected in favour of a lottery, since someone might be excluded under a first-come system if, for example, they were working and not able to line up in time, said Ian Scott, interim executive director of the Tofino Housing Corp., which is staging the lottery and has held two previous ones.
Income from the suite can be at market rates but no short-term rentals, such as Airbnbs, are permitted. A signed pre-construction purchase contract must be completed and a 2.5 per cent deposit paid by Oct. 19. A $4,000 fee to the corporation is also required.Scott said the corporation has had “really positive responses” to past lotteries.
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