ATTACHMENT 8: Tenant Relocation Plan

Tenant Relocation Plan

July 10, 2023

339, 341, 345 Island Highway

Introduction

ICIC and Boardwalk are committed to building quality, sustainable residential rental buildings.

Project Information

This project is currently undergoing a rezoning to allow for the replacement of 31 market rental units that are beyond repair (some that are vacant) that have reached the end of their economic life with 238 market rental units. The unit sizes are substantially larger than the new market rental in Greater Victoria. The unit mix is as follows:

• bachelor units (average 560 sq. ft): 5
• one bedroom (average 633 sq ft): 114
• two bedroom (average 840 sq ft): 114
• three bedroom (average 1105 s ft): 5

The project consists of three buildings with a maximum height of six storeys. We are providing 300 parking stalls, all located on two levels of the underground parkade. In addition, we are providing 238 secured bike stalls with provisions for e-hookup to encourage alternative transportation.

Tenant Relocation Assistance

Communication

ICIC/Boardwalk recognizes relocation causes stress and hardship to tenants. The provincial government has set guidelines for compensation; however, we believe more measures are required. Therefore, we offer relocation compensation and moving expenses that surpass the local government's requirements.

We will correspond with tenants and offer relocation assistance well before the four-month requirement, providing more time and ease of transition.

ICIC/Boardwalk has engaged the services of a Tenant Relocation Coordinator to work with each tenant to assist in finding suitable housing options. Our coordinator is a compassionate and detailed individual who will:

• provide information and contact info for housing alternatives, non-profit organizations, and social services.
• for assistance, provide contact details on a prominent and highly visible area at the project location.
• maintain a spreadsheet form with unit numbers, tenant names, dates and comments.

Current Tenancies

The current property consists of three addresses:

339 Island Highway had four rental units. The building had a fire last month and is now vacant. We moved three tenants from that building into vacant units at 341 and 345 Island Highway. One tenant declined a vacant unit and made their own arrangements.

341 Island Highway has 15 rental units.

345 Island Highway is reduced to 16 rental units due to a fire in one of the units.

The three properties now total 31 rental units, of which three are vacant and unrentable. The buildings and unit interiors are in very poor condition.

We have 29 tenants renting month-to-month, with rents ranging from $475 to $862 per month, with an average monthly rent of $673.18.

The term of tenancy comprises the following:

• 14 tenants 0 - 5 years
• 9 tenants 5 - 10 years
• 4 tenants 10 - 20 years
• 2 tenants 20+ years

Compensation

The BC Residential Tenancy Act requires only one month of rent compensation for demolition. Nonetheless, we are providing:

• Tenants renting for up to 5 years will receive four months' rent compensation
• Tenants renting for 5 to 10 years will receive five month’s rent compensation
• Tenants renting for 10 to 20 years will receive six month’s rent compensation
• Tenants who have been renting for more than 20 years will receive eight month’s rent compensation

Although a “First Right of Refusal” for existing tenants was requested, we believe it is not practical for tenants to relocate again after a two or three-year construction phase. Moreover, the BC Residential Tenancy Act only requires a “First Right of Refusal” under section 49.2 for renovation and repair for a period of less than four months.

Moving Expense Compensation

• Bachelor and one-bedroom: $1,000
• Two or more bedrooms: $1,250

345 Island Hwy

341 Island Hwy

339 Island Hwy