A document obtained under freedom of information rules proves the City of Vancouver can afford to fulfil its commitment to public housing, public housing advocates say.

The Pivot Legal Society and 2010 Watch released an undated city memorandum on Thursday, which they say show the city will earn millions more than originally anticipated from redeveloping Southeast False Creek for the 2010 Winter Olympics.
 
The memo from the project manager for the False Creek Olympic Village shows the city on track to net $64.5 million from development of the Olympic Village, which is now under construction.
 
Pivot spokesman David Eby said that's almost $15 million more than the earlier projected return of $50 million, and he wants the difference spent on low-income housing.

"We're calling on them to dedicate that money to fufil their Olympic housing legacy promises. Those promises were a binding part of the bid commitment and are every bit as important as any hockey rink or downhill ski jump."
 
Eby accuses city staff of claiming they can't afford low-income housing, while projecting big profits.
 
The memorandum proves the money is there, and any claim that it isn't simply isn't true, he said.

The Southeast False Creek area is former industrial land between Cambie and Quebec Streets and from Second Avenue to the southern edge of False Creek.

In December 2005, the then new Vancouver city council voted to cut the amount of social housing in the development to about 20 per cent and eliminate subsidized units for middle-income people.