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Background
The City is reviewing and potentially updating the Zoning Bylaw and the Reserve Funds Establishment Bylaw to reflect recent changes in provincial legislation related to Density Bonus programs.
As part of this work, we will:
Create a clear and consistent method for calculating in-kind affordable housing contributions
Develop a clear and consistent method for calculating cash‑in‑lieu contributions
Define how these contributions can be used to support community priorities
Engage with residents, developers, and other stakeholders to gather feedback on the City’s Density Bonus program
These updates will help ensure the program is transparent, effective, and aligned with the community’s long‑term goals.
How does the current Density Bonus Program work?
Today, developers have the option to build to a higher 'bonus' density in the City Centre and Urban Centres, in exchange for making a contribution to the City's affordable housing fund in the amount of $15.40 per square metre of bonus floor area.
What is Changing?
In accordance with new provincial legislation, the program is being updated to give developers the option of providing in-kind affordable housing units in exchange for bonus density, rather than only financial contributions.
How Will it Work?
Under the updated program, developers wanting to take advantage of bonus density will be able to choose between providing affordable units or providing cash-in-lieu.
Cash-in-lieu Contributions: The City is proposing to retain the existing cash-in-lieu rate of $15.40 per square metre. Financial analysis suggests that this rate does not negatively impact project viability.
Affordable Housing Contributions: The City is proposing to introduce an affordable housing contribution rate of 0.3% of bonus area (or a minimum of 1 unit). This means that 0.3% of bonus floor area would need to be provided as affordable housing. Financial analysis suggests that this has the same impact on project viability as the existing cash-in-lieu option.
We want to hear from you!
Share your feedback about the proposed Density Bonus updates below!
Background
The City is reviewing and potentially updating the Zoning Bylaw and the Reserve Funds Establishment Bylaw to reflect recent changes in provincial legislation related to Density Bonus programs.
As part of this work, we will:
Create a clear and consistent method for calculating in-kind affordable housing contributions
Develop a clear and consistent method for calculating cash‑in‑lieu contributions
Define how these contributions can be used to support community priorities
Engage with residents, developers, and other stakeholders to gather feedback on the City’s Density Bonus program
These updates will help ensure the program is transparent, effective, and aligned with the community’s long‑term goals.
How does the current Density Bonus Program work?
Today, developers have the option to build to a higher 'bonus' density in the City Centre and Urban Centres, in exchange for making a contribution to the City's affordable housing fund in the amount of $15.40 per square metre of bonus floor area.
What is Changing?
In accordance with new provincial legislation, the program is being updated to give developers the option of providing in-kind affordable housing units in exchange for bonus density, rather than only financial contributions.
How Will it Work?
Under the updated program, developers wanting to take advantage of bonus density will be able to choose between providing affordable units or providing cash-in-lieu.
Cash-in-lieu Contributions: The City is proposing to retain the existing cash-in-lieu rate of $15.40 per square metre. Financial analysis suggests that this rate does not negatively impact project viability.
Affordable Housing Contributions: The City is proposing to introduce an affordable housing contribution rate of 0.3% of bonus area (or a minimum of 1 unit). This means that 0.3% of bonus floor area would need to be provided as affordable housing. Financial analysis suggests that this has the same impact on project viability as the existing cash-in-lieu option.
We want to hear from you!
Share your feedback about the proposed Density Bonus updates below!
