COMMUNITY AMENITY CONTRIBUTION POLICY AND THE PROVISION OF AFFORDABLE HOUSING
A presentation outlining proposals to update the Community Amenity Contribution Policy, including increasing target rates to fund affordable housing initiatives.
COMMUNITY AMENITY CONTRIBUTION POLICY AND THE PROVISION OF AFFORDABLE HOUSING
PURPOSE
To follow up Council’s referral of the June 2, 2021 report from the Senior Planner titled “Community Amenity Contributions Policy Amendment – Affordable Housing” to the Community Development Advisory Committee about the possibility of requiring 10% affordable housing units in all new multi-family developments.
September 28, 2021 Community Development Advisory Committee
CDAC-03-21 THAT the Committee recommend to Council that the Community Development Advisory Committee supports the recommendation in the Community Amenity Contributions Policy to increase the community amenity contribution rate;
AND THAT staff consider looking at reductions to incentivize projects that are in line with the needs as demonstrated in the Housing Needs Assessment report.
CDAC-04-21 THAT the Committee recommend to Council that in addition to current contributions, the Town allocate a portion of the community amenity contributions collected toward the Capital Regional District’s Regional Housing Trust Fund with staff to recommend the specific amount to Council.
OPTIONS
- Amend the policy to increase target rates and transfer 10% of Cash Amenities received to the CRD Regional Trust Fund.
- considers the capacity of the Town while still providing flexibility for Council to negotiate on large projects.
- allows funds to be leveraged for maximum regional housing impact.
- Staff recommends a $500 per unit increase to target rate
- Commission a study to calibrate numbers for affordable units suitable for the Town’s context.
- Budget approval will be needed
- Risks include time to conduct the study, unsatisfactory results, or the project could stall or not complete.
- Opportunities could be missed in the meantime.
- Do not amend the policy.
RECOMMENDATION
THAT the Committee recommend to Council that the Community Amenity Contribution Policy No. 6400-041 be amended to:
- increase the Cash Amenities target rate per detached dwelling unit or lot from $5,500 to $6,000;
- increase the target rate for Cash Amenities for other types of residential uses from $3,500 to $4,000 per unit; and
- add a new policy for 10% of the amount of Cash Amenities received to be transferred to the Capital Regional District Housing Trust Fund.
Document Images
(1)