Staff recommend approving new Community Improvement Plan
Council passed a number of Resolutions and amendments. A key recommendation approved by Council to encourage the development of affordable housing is the following:
THAT Council direct staff to develop a Terms of Reference for the undertaking of a housing community improvement plan that will provide incentives for affordable rental units in addition to leveraging the opportunities of the existing Brownfields Community Improvement Plan and Downtown Community Improvement Plan.
Prepare an RFP that would prioritize the Affordable Housing CIP that would consider incentives including but not limited to:
- Development Charge Grants
- Planning and Building Fees
- Tax Increment Grant Program
- Incentives to promote mixed use development in alignment with the City’s new intensification policies
- Parking requirement reductions
- Parkland Fee reductions
- Second Unit grants and/or loans for new or retrofits
The RFP also provided for other Core Requirements to be considered including:
- Urban Design and Sustainability
- Social & Cultural Well-Being
- Implementation, Governance, Marketing & Monitoring
- Financial Analysis
Finally, the Main Consultant who is preparing the Affordable Housing CIP and update to the Downtown CIP will also be responsible for providing an overarching piece that connects all CIP programs with the goal of coordinating the plans looking a
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