Building Homes. Creating Communities.

“Before Greater Victoria Housing Society gave me my stable housing, my life was anything but stable. I lived a life of bad choices, prostitution, violence, drugs, alcohol and homelessness. Great Victoria Housing Society changed my life and helped me to provide a secure, safe and stable environment to raise my daughter who has grown into a responsible, happy young lady who just completed her first semester at College.”

– A former Tillicum Terrace resident

2013 Annual Report

Officers and Directors

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Chair’s Report

Ground Breaking Ceremony: 35 Gorge Road, January 2013

Dahli Place at 35 Gorge Road: 68 Units under Construction in 2013

Chair: Ian Batey

Past Chair: Eric Dahli

Vice-Chair: Kim Thorau

Secretary: Sam Macey

Treasurer: Fraser Stamp-Vincent

Chair Fund Raising: Scott Garman

Directors: Glenys Parry Blackadder Karen Ramsay Cline Hank Mathias (to March 2013) Shannon Mather My Phung Paul Wickens

2013 was another exciting year for Greater Victoria Housing Society with many accomplishments.

In January, we held a ground breaking ceremony for a new 68 unit apartment building at 35 Gorge Road, being built in partnership with Greater Victoria Rental Development Society. This building was under construction throughout the year, with an opening date set for spring 2014.

Vancity Community Foundation and Canada Mortgage and Housing Corporation awarded us grants to undertake design work and financial analysis of a new project we are working

on with the Inter-Cultural Association of Greater Victoria and First Metropolitan United Church. By the end of 2013 we had a design concept for a 48 unit apartment building on Balmoral Road in Victoria. Work will continue on this proposal in 2014.

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One of the highlights of the year was our very successful gala, held in April. More details are provided in the Fund Raising report, but I did want to note that an excellent video called “Our Stories” premiered at this event. “Our Stories” showcases some of our tenants and highlights the impact that affordable housing has had on their lives. It can be viewed on our website.

We implemented social media and launched our new website in late 2013. We increased awareness about the work we do thanks to a number of fact sheets, media stories and reports profiling our society. Staff and Board Members also made several presentations throughout the year to explain how affordable rental housing is a key element of our region’s social and economic health.

Late in 2013, we began taking people on building tours so that they are better acquainted with the work we do. It is an opportunity for those who share our mission to learn about the history of the Society, the impact affordable housing is making in the lives of our tenants, and the way in which we plan to address the pressing housing needs in our region. Tours will continue throughout 2014, so please plan on joining us.

Thanks to leadership provided by the Governance Committee, the Board undertook the important challenge of developing a strategic plan. Staff and the Board are establishing our work plan to meet our goals over the next years.

I would like to take this opportunity to thank the hard work and dedication of the staff of Greater Victoria Housing Society. In addition, many thanks to our Board Members who have volunteered their time and expertise to make this the great organization it is.

Ian Batey, Chair of the Board

We are dedicated to providing affordable rental housing in

Greater Victoria.

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Governance Committee Report

Finance Report

In 2013, the Society re-constituted a Finance Committee to enhance the Board’s focus on the financial position of the Society. The Committee provides for earlier and more detailed review of the key financial indicators.

The Committee met to review the Society’s performance against the budget every quarter and reviewed and recommended approval of the Society’s annual operating budget. The Committee also reviewed the Society’s investments and capital requirements to ensure that they are aligned.

The Governance Committee had two important assignments in 2013: to ensure that the Board has the membership required to fulfill our vision and meet our mandate; and, to facilitate the development of the Society’s Strategic Plan.

As a result of our work, at our March 2013 Annual General Meeting two new members were elected to the board. We continue to ensure we have a good cross section of people from the communities we serve and a broad range of skill sets atthe Board table. Our Board Members are also extremely important for their ability to network throughout the community.

The Governance Committee hired a consultant to assist with the design of our strategic planning process and to facilitate a day-long meeting in October. During this day, we worked through issues of importance to our society and to the community with respect to affordable housing. As a result of this work we set our priorities for action:

• To expand and grow so we can address housing needs in our region;• To enhance our public profile and communications to attract partners and funding for new development;• To ensure we are financially stable and secure;• To ensure excellence in our leadership, governance and management.

We look forward to reporting progress in achieving these priorities over the next few years. The Plan, called “Building on Strengths; Building for the Future” can be found on the Society website.

Our Board Members are committed to governance excellence. Karen Ramsay Cline was the Board delegate at the BC Non-Profit Housing Association Conference in Richmond in November 2013 where there are many topics of interest to the Board. Board members have shown a strong commitment to understanding their roles and responsibilities and to learning about best practices in governance by attending courses offered throughout the year.

Kim Thorau, Chair

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Revenue

Expenses Property Taxes/ Land Lease/Insurance

13%

The Finance Committee reviewed the financial analysis of two potential rental housing development projects. The Committee recommended against proceeding with one and has asked staff to continue investigating the potential of the second proposal.

The 2013 financial statements were reviewed with our auditors. Once again the auditors report that 2013 was a “clean audit”. Furthermore, they note that the risks that a society our size faces are reasonable and we have appropriate mitigation strategies in place.

Our total operating revenues were $6,095,298 in 2013. Our operating expenses were $5,668,712. The difference of $426,586 represents grant funds being held for the capital cost of constructing our newest building at 35 Gorge Road.

Our primary source of revenue is the rent and fees that tenants pay – this contributed 60% of our revenues in 2013. Our second largest source of revenue is government funding which made up 29% of our revenues.

Our largest expense is the mortgage payments we make on our fourteen properties. This accounts for 35% of our expenditures. The next largest expenditure is on maintaining our buildings at 20%. Administrative costs (including legal, audit and consulting fees) were 10% of operating expenses. We do not isolate “program costs” so administrative expenses include the cost of selecting tenants, financial planning and budgeting for the buildings and initiatives to support the tenants.

In 2013, our vacancy rate was 2.2%, compared to the Greater Victoria rental housing market which had a vacancy rate of 2.8% (October 2013).

We prepared our annual Replacement Reserve Plan in late 2012 for 2013. We continue to monitor our capital expenditures and our replace-ment reserve fund carefully. BC Housing undertook a thorough capital review of several of our buildings. We are using the data and findings collected to refine our plans and will enhance our capacity for capital planning in 2014.

We ended the year with a working capital fund of $626,358 which is earmarked for new office space, other improvements for our operations and as equity for the purchase or development of new affordable rental housing projects.

I am pleased to report that the Society’s finances are sound and enable us to continue with our agenda of continued improvement and growth.

Audited Financial Statements are available on request.

Fraser Stamp-Vincent, Treasurer

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Gala Night, April 2013

Poster for our 2013 Gala

The Fund Raising Committee had an extremely busy year: hosting the Society’s first ever gala event and, for the third year participating in the Times Colonist Island Savings Open. In addition, there were many other community events where staff and Board members had the opportunity to promote the work we do.

Our gala, called “Building Storeys” attracted 108 guests who were enthralled by the stories in our video entitled “Our Stories”. In addition, the audience heard a firsthand account from a previous tenant who courageously stood before the crowd to talk about the role Greater Victoria Housing Society played at acritical time in her life and how having an affordable place to live transformed both her life and that of her daughter. This event raised $10,521 for the Society.

We were delighted to work with Island Savings Credit Union as the sponsored charity at the Times Colonist Island Savings Open. The event was held at Uplands Golf Club in the first week of June and resulted in a $9,905 donation to Greater Victoria Housing Society.

Community support for our work continues to grow. The Committee has several events planned for 2014 to further grow community awareness and the fundraising support of the Society. At this time, we want to give special thanks to those who supported us in 2013:

19 Individual Donors

Corporate/Government Sponsors/Funders

• Amica at Douglas• BC Housing• Canada Mortgage and Housing Corporation• Capital Region Housing Trust Fund• City of Victoria• Executive House Hotel• Future Shop• HYDRECS (Hydro Employees)• Island Savings Credit Union• Mills Appraisal Group

• Oswego Hotel• Pacific Sands Beach Resort• Real Homes Development Company• Stantec • Sunlight Interiors• TELUS Employee Charitable Fund• Thrifty Foods• Times Colonist• Vancity Community Foundation

Fund Raising Committee Report

Building Storeys: the 2013 Gala Sponsors

• Addition-elle• Artisan Wine Shop• Brink Events• Creative Juices

• Design House Salon• Oak Bay Beach Hotel• Platinum Floral Design• Times Colonist

• Seafirst Insurance Brokers• Shiraz O’Higgins• Sysco

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Making lunch while the baby sleeps at Loreen Place

Building Storeys: Silent Auction Item Donors

• BC Ferries• Coast Capital Savings• Cordova Bay Golf Club• Dynamo Training• Eagle Wing Tour• Earls Restaurant• Greens 5 Holdings Ltd/ TruValue Foods• Hlady Photography• KPMG• Marc Anthony Group• Marmalade Tart Boutique

• Mission Hill Family Estate• Oak Bay Beach Hotel• Olive the Senses• Pacific Opera Victoria• Scotty • Shangri-la Hotel• Save On Foods Memorial Centre• Sysco• Times Colonist• Victoria Symphony Society• Victoria YWCA

Scott Garman, Chair of Fund Raising

Our Buildings

The Society operates 14 buildings containing 739 apartments and townhouses.

Building Address Units Year Built

Balmoral Garden Court 921 North Park Street, Victoria 74 1993

Campbell Lodge 918 Collinson Street, Victoria 100 1978

Colwood Lodge 85 Belmont Road, Colwood 50 1983

Constance Court 1325 Esquimalt Road, Esquimalt 52 1991

Dowler Lodge 2105 Dowler Place, Victoria 66 1988

Esquimalt Lions Lodge 874 Fleming Street, Esquimalt 77 1972

Forest Heights 2558 Quadra Street, Victoria 19 1955

Grafton Lodge 506 Grafton Street, Esquimalt 39 2004

Loreen Place 21 Gorge Road, East, Victoria 52 2012

Nigel Square 821 Nigel Avenue, Saanich 18 1991

Pembroke Mews 2014 Government Street, Victoria 25 2012

Sitkum Lodge 411 Sitkum Road, Victoria 75 1984

Tillicum Terrace 2993 Tillicum Road, Saanich 53 1993

Townley Lodge 1780 Townley Street, Saanich 39 1967

GVHS staff meeting in their new boardroom

Executive Director: Kaye Melliship

Manager Property Operations: Raymond Moss

Manager of Finance: Roberta Meijer

Manager of Revenue Development: Cecilia Bush

Assistant to Property Manager: Glen Galvin

Assistant to Manager of Finance: Brenda Lesiuk

Housing Assistants: Bev Bailey Yvonne Blair

Administrative Assistants: Nancy Wilkinson Kylie Sandham

Receptionist: Corinne Popadynec

Maintenance Assistants: Murray Bierd Kevin Carter Michael Johnston Stephen Taylor Steve Webster

Caretakers: Doug Allen Brian Brown Mark Dunlop Michael Dunn Jessica Frances Tony Gregory Conrad Iuon Dorell King Al Olson

Our Staff

Registered Charity 10817 3238 RR0001

Tel: 250.384.3434 Fax: 250.386.3434 Email: info@greatervichousing.org

www.greatervichousing.org