Housing Legacy Fund/Affordable Housing

A recent story City considers large residential development in Hammond Bay regarding a proposed development in Hammond Bay prompted me to send this letter off.

As sent May 13, 2010:

Re: City considers large residential development in Hammond Bay
Not only should the proponents for the development of 231 units on Hammond Bay road be contributing parkland they should be contributing at least 10% of the units, or the equivalent in cash, towards affordable social housing or the city’s Housing Legacy Reserve. This is not to single out this development per se but should be a City requirement for any development of significance requiring rezoning within the Urban Containment Boundary. Oceanview and Sandstone, with a combined 5000 units, are two others of note.

The city of Nanaimo 's Housing Legacy Reserve, with an expected $165,000 increase in each of the next five years, is a joke and it would take over a century at the current rate to be of any significance. Over 50% of homeowners and renters in Nanaimo are paying at least half or more of their gross income towards housing, anything more than 30% is considered an indicator of poverty as also is a person or families income level. Using these indicators Nanaimo ’s poverty level is well above average, roughly 50% of the population, and to top that off it also has one of the highest unemployment rates in the province.

Numbers like these show the growing need for affordable accommodation in Nanaimo . Other Cities in BC and across Canada have bylaws requiring contributions such as the above. It is time this city entered the 21st century and did so as well.

Daily News; May 14, 2010
Growing need in city for more affordable housing