VICTORIA — The British Columbia government is restricting new funding to a major non-profit housing providerand reviewing its finances afteran independent report found mismanagement by a former top executive atthe province's housing corporation.
The forensic investigation by Ernst and Young says it uncovered "significant risks to public funds" stemming from mismanagement and a lack of oversight at BC Housing, the Crown corporation that develops and manages subsidized housing.
Atira was also awarded contracts directly, "without transparent, competitive processes designed to ensure the proper use of public funds," the report says. Ramsay did not immediately respond to a request for comment sent to his new employer, Nch'kay, the economic development arm of the Squamish Nation.Eby said the review will ultimately strengthen B.C.'s response to the housing crisis.
The premier said he knows the findings will likely cause anxiety among people in buildings run by Atira, but he assured those residents their housing is secure. The B.C. government released the results of the previous review last June, a week before announcing it had fired several BC Housing board members.
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