Read on Twitter
Another great day covering city council. Trying to log on to today's meeting. Basic link on website says it hasn't started yet. City clerk's tweet says it's in progress and provides a link that does work -- but only on Safari, not Chrome (unlike other days, when it's Chrome not S
Okay, after some points where sound cuts out, we seem to be here. First 3 Qs are all about whether the developer will make extra profit or result in increased land values along Broadway. Answers are all, essentially, "no."
"The rent (for the 58 below-market units) will be approximately half the rate of market units." The real-estate division has determined the additional value of the floor area is equal to that.
Q4. Doesn't the building go against the future planning for the Broadway corridor? A: No, it's from a policy that pre-dated the decision to do a Broadway plan
Q5: Why did staff change position from not allowing the Birch redevelopment to allowing it within two months.
Q5: Why did staff change position from not allowing the Birch redevelopment to allowing it within two months.
Housing senior manager Dan Garrison is explaining how staff re-assessed and "collectively decided" it should be invited into the moderate-rental program. This proposal scored in the top 10 of the 60 applications to the program. Reasons: no displacement, large number rental
Q6: What precedent does this set for height of other moderate-rental projects? Garrison: Heights generally set out by zoning district, e.g. C2 only allows 14 stories, elsewhere five stories. Because of that, limited impact on any other moderate-rental project.
Q7: Who is eligible for the below-market units? A (Annie Mobilis sp?) This building providing 22 per cent of floor area for below-market. Two criteria: Household income between $30,000 and $80,000 annually and size of unit. If rent $1,200, income cannot exceed $58,000.
The program also has occupancy requirements. Household must have number of people equal to or more than number of bedrooms.
Q8: Any risk the rents could be increased substantially after first tenant? A: No. Unlike any other apartment in B.C., the rents can't be reset any time a tenant moves out. "Staff will secure the rents in legal agreements."
Q9: Staff report for Rental 100 rezoning for same site said the height should be governed by local zoning C3A, which was 120 feet. Why allowed to go so much higher now? Paul Tang, senior development planner. Was an incentive given to try to shift developers from condos to rental
Tang: This floor-space increase is equal to an equalization to ensure (the below-market units). The number of stories corresponds to the type of tenure, same profit margin for each.
Q10: Questions been raised about school capacity? Should be included, along with data for independent/faith-based schools? A: Don't have access to data for independent schools or sense of capacity. If can find it in future, will include.
Now a new round of questions from a second memo.
Q1: Value of the DCL normally.
A. $798,490
Q: Can't developer be required to pay it?
A; The policy doesn't allow discretion. If applicant meets criteria of rental policy, it's granted automatically. If doesn't meet, doesn't get
Q1: Value of the DCL normally.
A. $798,490
Q: Can't developer be required to pay it?
A; The policy doesn't allow discretion. If applicant meets criteria of rental policy, it's granted automatically. If doesn't meet, doesn't get
Q2: If this got turned down, could the developer just go back to the older project, 17-storey market rental?
A: Talked to developer, said would go back to original and would ask for allowable DCL waiver.
A: Talked to developer, said would go back to original and would ask for allowable DCL waiver.
