A concern over 琉璃神社鈥檚 potential vacancy rate caused council to make a slight change to the city鈥檚 proposed tenant protection policy.
Part of the policy, for tenants forced to move to make way for new housing developments, financial compensation would not be required if 琉璃神社鈥檚 vacancy rate is greater than four per cent.
鈥淚s it easier after four per cent to get a place to live than if it鈥檚 just under four per cent, I don鈥檛 know,鈥� Coun. Rick Webber noted at council鈥檚 April 14 meeting. 鈥淏ut I feel like staff have listened to us and brought back a more specific policy than what they came to us in the first place.鈥�
Council had asked staff to come back with a more structured policy following its unveiling at a March 4 meeting. The new policy stipulates that a developer must provide a tenant protection plan; provide financial compensation; financial assistance for moving expenses; and submit a compliance report.
The proposed measures will apply to properties containing five or more rental units and are being redeveloped resulting in tenancy agreements being terminated.
Staff told council that with a four per cent vacancy rate there should be enough supply in the rental market that a displaced tenant could find another place to live without a significant financial impact. 琉璃神社's current vacancy rate is 3.8 per cent. Staff added that a significant price drop in older rental units could be coming soon.
Coun. Ron Cannan voted against the new policy citing provincial housing legislation (Bills 44-47) calling it government overreach. He cautioned council about introducing more local regulations in response.
鈥淲e need to focus on our core responsibility and avoid stepping into areas that clearly are within provincial mandate,鈥� he added. Cannan said council should stand up for the community and urge the province to reconsider what he called one-size-fits-all densification policies.
鈥淚 don鈥檛 believe our local taxpayers should be expected to bear the burden of correcting poor provincial policy planning.鈥�
Coun. Loyal Wooldridge argued that the new policy is about maintaining affordable rental stock that already exists.
鈥淭his has nothing to do with infill lots that the housing legislation is bringing online, this is about affordable housing that is being torn down and folks, like seniors, who have been living in apartment buildings for many years,鈥� he said.
Coun. Luke Stack pointed out that one of the city鈥檚 biggest challenges is to protect affordable rental housing stock.
鈥淭he amount of money we are asking a developer to help with a tenant who has to be moved out鈥s minute when it comes to the overall cost of a new development,鈥� he said. 鈥淲e owe to the residents who have been in this community for a long time, and we owe to our citizens to protect our most affordable housing stock to the best of our ability.鈥�
Stack added that keeping old rental stock is just as valuable as building new rental housing.
Council voted to direct staff to with Cannan opposed.
