Kelowna would have to invest $204 million into land acquisition over the next 10 years to fully address the city91裸聊视频檚 growing need for affordable housing.
That91裸聊视频檚 according to a report from city staff outlining the development of an affordable housing land acquisition strategy (AHLAS), presented to council on Monday (Jan. 18). The AHLAS would provide a plan of action for how the city can fund and optimize land acquisition for new affordable housing developments.
91裸聊视频淭hat91裸聊视频檚 crazy to me,91裸聊视频� Kelowna Mayor Colin Basran remarked of the sizable deficit. 91裸聊视频淚t just goes to show the deficit that has been created by the lack of investment by the provincial and federal governments for decades.
91裸聊视频淲e, as a municipality, have done a lot to address that 91裸聊视频� but we91裸聊视频檙e not going to be able to do it alone.91裸聊视频�
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Of Kelowna91裸聊视频檚 estimated 19,600 rental households, staff said 9,200 as being in 91裸聊视频渃ore housing need,91裸聊视频� of which 4,150 are in 91裸聊视频渆xtreme core housing need91裸聊视频�. Households that spend more than 30 per cent of their income on housing are noted as being in core housing need while those spending upwards of 50 per cent of their total income on rent is defined as being in extreme core housing need. Staff expects those numbers to increase over the next 10 years.
To provide land for affordable housing projects, the city plans to put $400,000 from the 2022 budget in its housing opportunities reserve, double what it currently contributes to the fund. By 2023, that yearly contribution is set to be increased another 50 per cent to $600,000 a year, allowing for the city to set aside $2.2 million to fund affordable housing land acquisition over the next four years 91裸聊视频� significantly short of the amount the city claims it would need to address the issue.
But the AHLAS is set to be a vital tool in ensuring upper levels of government and other agencies do their part.
While housing is typically a provincial responsibility, the report states local governments have taken larger roles as housing challenges continue to grow. Staff91裸聊视频檚 report suggests the AHLAS would support the city91裸聊视频檚 relationship with groups like BC Housing, allowing the city to get the ball rolling more quickly on new projects by offering purchased land in exchange for much needed new affordable housing developments.
91裸聊视频淲e can91裸聊视频檛 keep letting this deficit continue to pile up because it ends up with more people on our streets,91裸聊视频� said Basran.
Do you have something to add to this story, or something else we should report on? Email: michael.rodriguez@kelownacapnews.com
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