Attachment 2: Draft Community Amenity Contribution Policy

POLICY:

1.1. Discretion The Town will consider proposed Community Amenity Contributions on a case by case basis. Nothing in this policy is intended to impair or fetter the discretion of Council with respect to the adoption of any bylaw.

1.2. Community Amenities Community Amenities may include those identified in the Official Community Plan, Parks Master Plan and other Town documents, or those determined in consultation between the development proponent and the Town.

1.3. Basis on Additional Density Community Amenity Contribution target amounts will be based on the increased density from the existing zone or existing development of the subject lands, whichever is greater.

1.4. Priorities The following community amenities will be prioritized over cash amenities or more general community amenities that benefit the larger community: 1.4.1. Tangible amenities Contributions that benefit the immediate neighbourhood or directly address local development impacts. 1.4.2. Tangible amenities that can be implemented in the short term rather than the long term.

1.5. Consideration of Tangible Amenities Tangible amenities should be of clear value to the Town.

1.6. Valuation of Tangible Amenities The financial value of Tangible Amenities will be determined by staff.

1.7. Non/Below Market or Special Needs Housing Community Amenity Contributions are not expected for residential units that would be in perpetuity non-market, below-market or for special needs.

1.8. Long Term Ongoing Costs Factors in considering the acceptability of a Tangible Amenity will include the long-term costs to operate, maintain, repair and replace the amenity.

1.9. Housing Affordability and Supply The potential impact on housing affordability and supply will be considered in regard to Community Amenity Contributions.

1.10. Target Rates The following target rates for Cash Amenities are established as basis for negotiation: a. $5500 per additional single-family residential unit/lot ($2000 toward affordable housing + $3500 for other community amenities) b. $3500 per additional multifamily unit ($1500 per unit for affordable housing + $2000 for other community amenities)

1.11. Land Lift Analysis A land lift analysis should be conducted by a qualified third party agreed to by the development proponent and the Town where more than 100 additional residential units are proposed or possible. The Town will seek a target of 50% of the increase in land value for the provision of community amenities. The cost of conducting the analysis would be deducted from the Community Amenity Contribution amount. Where there is no or negative land lift, the development proponent and the Town would enter into negotiations.

PROCEDURES:

2.0 Cash Amenities 2.1 Cash amenities will be: 2.1.1 Calculated based on the maximum increased development potential of the new zone or another agreed upon amount and received concurrently with fourth reading of a rezoning bylaw; or 2.1.2 Secured in a registered covenant concurrently with fourth reading of a rezoning bylaw for provision prior to building permit issuance based on the number of additional residential units in a building permit; or 2.1.3 Secured in a registered covenant concurrently with fourth reading of a rezoning bylaw for provision prior to subdivision approval by the Approving Officer based on the number of additional single-family residential lots.

2.2 A written agreement for Cash Amenities will be made between the development proponent and the Town at the time of provision to specify the purpose and permitted use(s) of the money, including consideration of alternatives should a Tangible Amenity project not proceed by a certain future date. 2.2.1 The agreement should state that the Cash Amenity is a gift to the Town. The agreement will specify stipulations, if any, agreed to by the Town and the development proponent regarding the contribution.

2.3 Accounting for cash amenities will follow generally accepted accounting practices.

3.0 Tangible Amenities 3.1 Tangible Amenities will be: 3.1.1 Provided prior to scheduling fourth reading of a rezoning bylaw; or 3.1.2 Secured with a security deposit prior to scheduling fourth reading of a rezoning bylaw with a written agreement outlining for what purposes the community amenity contribution funds may be used, including consideration of alternatives should a community amenity project not proceed by a certain date; or 3.1.3 Secured in a covenant registered concurrently with fourth reading of a rezoning bylaw for provision: 3.1.3.1 prior to building permit issuance and based on the number of additional residential units in a building permit; or 3.1.3.2 prior to or concurrently with subdivision approval by the Approving Officer based on the number of additional single-family residential lots.

ATTACHMENTS:

DISTRIBUTION: TBD.

RECORD OF AMENDMENTS