June 2, 2014

GREATER VANCOUVER REGIONAL DISTRICT

HOUSING COMMITTEE

REGULAR MEETING

Friday, June 13 2014 1:00 pm

2nd Floor Boardroom, 4330 Kingsway, Burnaby, British Columbia.

A G E N D A1 1. ADOPTION OF THE AGENDA

1.1 June 13, 2014 Regular Meeting Agenda That the Housing Committee adopt the agenda for its regular meeting scheduled for June 13, 2014 as circulated.

2. ADOPTION OF THE MINUTES

2.1 April 11, 2014 Regular Meeting Minutes

That the Housing Committee adopt the minutes of its regular meeting held April 11, 2014 as circulated.

3. DELEGATIONS

No items presented. 4. INVITED PRESENTATIONS

No items presented. 5. REPORTS FROM COMMITTEE OR STAFF

5.1 Provincial Housing Program Review Designated Speaker: Margaret Eberle, Senior Regional Planner That the Housing Committee receive the report for information dated May 15, 2014 titled “Provincial Housing Program Review”.

1 Note: Recommendation is shown under each item, where applicable. This meeting is held in conjunction with and may precede the Metro Vancouver Housing Corporation Board of Directors meeting.

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Housing Committee Regular Agenda June 13, 2014

Agenda Page 2 of 2

5.2 Manager’s Report

Designated Speaker: Don Littleford, Director, Housing That the Housing Committee receive the report dated May 15, 2014 titled Manager’s Report for information.

6. INFORMATION ITEMS 6.1 BC Housing Media Release - Benefits Increase Under Rental Assistance Programs -

April 17, 2014 6.2 North Vancouver City - Support for Federal Government Subsidies for Co-op Housing

– May 9, 2014

6.3 New Yorker article - Real Estate Goes Global - May 26, 2014

7. OTHER BUSINESS No items presented.

8. BUSINESS ARISING FROM DELEGATIONS 9. RESOLUTION TO CLOSE MEETING

No items presented. 10. ADJOURNMENT/CONCLUSION

That the Housing Committee adjourn/conclude its regular meeting of June 13, 2014.

Membership: Wright, Wayne (C) – New Westminster Meggs, Geoff (VC) – Vancouver Bell, Don – North Vancouver City Campbell, Robert – Delta Jang, Kerry - Vancouver

Jordan, Colleen – Burnaby Ferguson, Steve – Langley Township McNulty, Bill – Richmond Nuttall, Gerry – Port Moody

Stewart, Richard - Coquitlam Villeneuve, Judy – Surrey Walton, Richard – North Vancouver District West, Brad - Port Coquitlam

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Minutes of the Regular Meeting of the GVRD Housing Committee held on Friday, April 11, 2014 Page 1 of 5

GREATER VANCOUVER REGIONAL DISTRICT HOUSING COMMITTEE

Minutes of the Regular Meeting of the Greater Vancouver Regional District (GVRD) Housing Committee held at 1:01 p.m. on Friday, April 11, 2014 in the 2nd Floor Boardroom, 4330 Kingsway, Burnaby, British Columbia. PRESENT: Chair, Director Wayne Wright, New Westminster Vice Chair, Director Geoff Meggs, Vancouver (arrived at 1:16 p.m.) Councillor Don Bell, North Vancouver City Councillor Robert Campbell, Delta Director Steve Ferguson, Langley Township Director Colleen Jordan, Burnaby Councillor Bill McNulty, Richmond (departed at 2:41 p.m.) Councillor Gerry Nuttall, Port Moody Director Richard Stewart, Coquitlam Director Judy Villeneuve, Surrey Director Richard Walton, North Vancouver District ABSENT: Director Kerry Jang, Vancouver Councillor Brad West, Port Coquitlam STAFF: Don Littleford, Director, Housing, Planning, Policy and Environment Janis Knaupp, Assistant to Regional Committees, Board and Information Services,

Legal and Legislative Services 1. ADOPTION OF THE AGENDA

1.1 April 11, 2014 Regular Meeting Agenda It was MOVED and SECONDED That the Housing Committee adopt the agenda for its regular meeting scheduled for April 11, 2014 as circulated.

CARRIED

2.1

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Minutes of the Regular Meeting of the GVRD Housing Committee held on Friday, April 11, 2014 Page 2 of 5

2. ADOPTION OF THE MINUTES 2.1 March 14, 2014 Regular Meeting Minutes

It was MOVED and SECONDED That the Housing Committee adopt the minutes of its regular meeting held March 14, 2013 as circulated.

CARRIED 3. DELEGATIONS No items presented. 4. INVITED PRESENTATIONS

4.1 Housing Matters Virginia Holden, Housing Policy Branch, Office of Housing and Construction Standards, Ministry of Natural Resources Development and Ministry Responsible for Housing, provided members with a presentation about the update to the BC Provincial Housing Strategy highlighting: strategic priorities related to stable housing, priority assistance, Aboriginal housing, rental housing, home ownership and built environment; projects underway; and next steps. Members were further informed about: focus on non-profit sector assets; addressing affordability; increasing the Province’s role; improving access and including moderate income households in rental housing; modernizing tenancy services; new strata tools; and consideration of changes to the BC Building Code.

1:16 p.m. Director Meggs arrived at the meeting.

Comments were offered about: · The need to link provincial and regional goals · Exploring alternative social housing models (such as Sweden) · Local government pressure to assist community organizations seeking land

for social housing due to senior government downloading · Changes needed to the Residential Tenancy Act (RTA) related to: access;

enforcement; age restrictions; tax credits; housing availability; and rezoning · The need to remove secondary suite restrictions in the BC Building Code · The need for provincial partnerships to assist non-profits in developing

capacity to negotiate future redevelopment needs and the need to maintain status quo until these issues are resolved

In response to questions, members were informed about: · Challenges with meeting service level related to the RTA · Age restrictions in the RTA being undesirable due to changing demographics · Land value and construction cost challenges in the BC rental housing market;

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Minutes of the Regular Meeting of the GVRD Housing Committee held on Friday, April 11, 2014 Page 3 of 5

the need for provincial tax incentives · Provincial authority to address zoning issues being limited by legislation · Efforts to safeguard tenants from affordability and safety issues · Pilot project to “certify” secondary suites to meet BC Fire Code standards

versus legal suites which meet BC Building Code standards · First Nations policy considerations for affordable housing on Crown land · Efforts to protect affordability of existing housing stock in the long-term · The need for non-profits to consider merging to develop future capacity Presentation material titled “Update to the Provincial Housing Strategy” is retained with the April 11, 2014 Housing Committee agenda.

5. REPORTS FROM COMMITTEE OR STAFF

5.1 Regional Affordable Housing Strategy Update - Discussion Paper

Report dated March 25, 2014 from Margaret Eberle, Senior Regional Planner, Housing, Planning, Policy and Environment, providing the Housing Committee with an opportunity to review and endorse the “Regional Affordable Housing Strategy Update – Discussion Paper” outlining the proposed goals and directions for an updated Regional Affordable Housing Strategy. Members were provided a presentation on updates to Metro Vancouver’s Regional Affordable Housing Strategy (RAHS) highlighting: RAHS 2007; the update process; Discussion Paper focus; progress to date; proposed goals and strategies; and next steps.

Discussion ensued about: · Report consultation and timing of presentations to municipal councils · Including policies that encourage different forms of housing · Municipalities identifying/addressing barriers to supplying housing options · Advocating for BC Building Code changes to support existing market housing · Exploring the moratorium on demolition of existing rental stock · Exploring a regional/local staff workshop to consider rental housing policy In response to questions, members were informed about: market housing being included as part of diverse housing supply; and local governments preparing housing action plans as referenced in Metro 2040.

Request of Staff Staff was requested to explore a joint Housing Committee and Regional Planning Advisory Committee workshop to consider municipal rental housing policy. Presentation material titled “Regional Affordable Housing Strategy Update - Proposed Goals and Directions” is retained with the April 11, 2014 Housing Committee agenda.

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Minutes of the Regular Meeting of the GVRD Housing Committee held on Friday, April 11, 2014 Page 4 of 5

It was MOVED and SECONDED That the Board endorse the report titled “Regional Affordable Housing Strategy Update – Discussion Paper” dated March 25, 2014, direct staff to initiate stakeholder consultation and forward the report to member municipalities and other interested agencies for their information and comment.

CARRIED Director Stewart absent at the vote.

5.2 Kiwanis of West Vancouver Appeal to Refund Regional DCCs

Report dated March 4, 2014 from Margaret Eberle, Senior Regional Planner, Housing, Planning, Policy and Environment, considering a request by Kiwanis Seniors Housing and Community Services Society of West Vancouver for a refund of $80,700 in Greater Vancouver Sewerage and Drainage District Development Cost Charges previously paid on an affordable seniors rental housing development. It was MOVED and SECONDED That the GVS&DD Board advise the Kiwanis Seniors Housing and Community Services Society of West Vancouver that it has denied the Society’s application for a refund of GVS&DD Development Cost Charges of $80,700 for Kiwanis Garden Village as the project is ineligible according to the current bylaw.

CARRIED 5.3 Manager’s Report

Report dated March 25, 2014 from Don Littleford, Director, Housing, Planning, Policy and Environment, updating the Housing Committee on: the Federation of Canadian Municipalities spearheading formation of a new national Forum on Housing and the Economy; and the Manitoba Rental Housing Construction Tax Credit. Members were informed about the need for senior governments support to consider a BC rental housing construction tax credit program.

Agenda Varied The Committee requested the agenda be varied to receive clarification on Item 5.2 at this point.

5.2 Kiwanis of West Vancouver Appeal to Refund Regional DCCs (Continued) In response to questions, members were further informed about: District of West Vancouver consideration; staff plans to examine the bylaw; the Kiwanis building being occupied and lacking a BC Housing agreement.

2:41 p.m. William McNulty departed the meeting.

Request of Staff When the Board considers the Kiwanis of West Vancouver appeal to refund Regional DCCs, staff was requested to draft a letter to the Kiwanis, indicating the

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Minutes of the Regular Meeting of the GVRD Housing Committee held on Friday, April 11, 2014 Page 5 of 5

decision as it relates to bylaw compliance and that Metro Vancouver will examine the DCC Bylaw. A copy of the letter is to be forwarded to the provincial and federal governments.

Agenda Order Resumed The order of the agenda resumed with Item 5.3 being before the Committee.

5.3 Manager’s Report (Continued) It was MOVED and SECONDED That the Housing Committee receive the report dated March 25, 2014 titled “Manager’s Report” for information.

CARRIED 6. INFORMATION ITEMS

It was MOVED and SECONDED That the Housing Committee receive for information the following Information Items: 6.1 Ministry of Community, Sport and Cultural Development. The Short Guide -

Community Amenity Contributions: Balancing Community Planning, Public Benefits and Housing Affordability - March 2014.

6.2 Globe and Mail - How Ottawa’s surpluses count on cuts to social housing - March 4, 2014.

6.3 Homelessness Priorities and Strategies Report - January 2014. CARRIED

7. OTHER BUSINESS

No items presented.

8. RESOLUTION TO CLOSE MEETING No items presented.

9. ADJOURNMENT/TERMINATION

It was MOVED and SECONDED That the Housing Committee conclude its regular meeting of April 11, 2014.

CARRIED (Time: 2:50 p.m.)

________________________________ ________________________________ Janis Knaupp, Wayne Wright, Chair Assistant to Regional Committees 9269606 FINAL

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To: Housing Committee From: Margaret Eberle, Senior Housing Planner, Regional Housing Date: May 15, 2014 Meeting Date: June 13, 2014 Subject: Provincial Housing Program Review RECOMMENDATION That the Housing Committee receive the report for information dated May 15, 2014 titled “Provincial Housing Program Review”. PURPOSE To provide the Housing Committee with information on provincial housing programs over the past ten years. BACKGROUND At its April 11, 2014 meeting, the Housing Committee requested a summary of provincial housing programs over the past 10 years in light of the recently released update of the provincial housing strategy, Housing Matters. DISCUSSION The provincial housing strategy was first articulated in 2006 and was called Housing Matters. Housing Matters was implemented through a number of programs that targeted certain populations or that took advantage of short term funding provided by the federal government. From 2004 to 2014, specific funding programs have included the following, only one of which is accepting new applications: Table 1

Funding Program Focus

Provincial Housing Program (PHP)

Formerly Homes BC, provided affordable rental housing to low to moderate income households, such as families with children, independent disabled and some seniors

Independent Living BC (ILBC) (rent supplements, new build and conversions)

For seniors, a middle option between home care and residential care.

Provincial Homelessness Initiative (PHI) Housing with integrated support services to help individuals who are homeless or at risk of homelessness.

Housing Endowment Fund (HEF)

The $250 million Housing Endowment Fund (HEF) established in 2007 to encourage new ideas and support innovative housing solutions for British Columbians most in need.

Community Partnership Initiatives (CPI) Mortgage financing for housing solutions, without the need for ongoing operating subsidies. Ongoing

5.1

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Memorandums of Understanding (MOUs)

Provincial capital and operating costs to develop 30 new supportive housing developments for homeless or at risk individuals on city-owned sites in the several communities including Vancouver, Surrey and Maple Ridge.

Seniors Rental Housing (SRH) initiative

Funded through Canada’s Economic Action Plan, targeted to seniors 55+, many of these new developments use modular, manufactured housing construction.

Aboriginal Housing Initiative (AHI)

The Aboriginal Housing Initiative (AHI) was launched in 2007 and developed over 200 new affordable housing units for Aboriginal people living off-reserve.

Vanoc Legacy Housing

Converted temporary modular housing from the Vancouver 2010 Olympics and Paralympics into permanent, affordable apartments in six communities.

Data provided by BC Housing for 2004/05 to 2013/14 show that the number of new affordable units created in Metro Vancouver with BC Housing assistance of some form was 9,183 units, approximately 52% of the 17,535 new units created province-wide. Table 2

Funding Program Total number new units in MV

Share of new units

Provincial Housing Program (PHP) 494 5% Independent Living BC (ILBC) 1,765 19% Provincial Homelessness Initiatives (PHI) 2,785 30% Housing Endowment Fund (HEF) 193 2% Community Partnership Initiatives (CPI) 1,781 19% Memorandum of Understanding (MOUs) 1,193 13% Seniors Rental Housing (SRH) initiative 272 3% Aboriginal Housing Initiative (AHI) 61 1% Vanoc Legacy Housing 52 1% Other 587 6% Total New Units Created in Metro Vancouver 9,183 100% Total New Units Created in BC 17,535

The largest share of new units (30% or 2,785 units) created over the past ten years were funded through the Provincial Homelessness Initiative. These are transitional and supportive housing units, and most were completed between 2007/08 and 2009/10. More recently, the Community Partnership Initiative has assisted with project financing to facilitate creation of 1,781 units or 19% of all new units. Memorandums of Understanding (MOUs) contributed 1,781 supportive housing units or 13% of newly created units. ILBC units for seniors also comprise a significant share at 19%. Annually, the number of new units created in Metro Vancouver has ranged from a low of 504 units in 2004/05 to a high of over 1,800 units in 2007/08. It is important to note that other affordable units may have been created in Metro Vancouver outside of these provincial programs. For example, additional units created by the Heather Place redevelopment would not necessarily be included in these figures unless project financing is obtained through the Community Partnership Initiative.

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Figure 1

Sources: BC Housing's Annual Reports and Central Property System. More detailed information on the number of units created per year per program is presented in Attachment 1. In addition to facilitating the creation of new units as above, the provincial government provides households meeting eligibility criteria with rent supplements to live in private market through the SAFER program for seniors and beginning in 2007, the Rental Assistance Program (RAP) for families. As of Mar 31, 2013 14,716 Metro Vancouver households received rental assistance in the private market through these programs, accounting for 54% of provincial allocations. Table 3

Year Rent Assistance

in the Private Market 2009 12,361 2010 12,482 2011 13,122 2012 13,902 2013 14,716

Source: BC Housing. Research and Corporate Planning Dept. RAP and SAFER. The updated provincial housing strategy Housing Matters 2014 released in February 2014 indicates that the provincial government may be placing less emphasis on creating new units going forward in favour of expanding rent assistance programs. On April 17, 2014, the government announced that benefits would be increasing for both RAP and SAFER effective April 1, 2014. The rent ceilings have increased for both programs, reflecting higher rental rates in the market. Further details on provincial intentions for new programs over the next several years are not known at this time. ALTERNATIVES This is an information report. No alternatives are presented.

504 745

1,209

1,816

767 826 824 927 636

929

1,107

1,583

2,472 2,437

1,794 1,755 1,812 2,014

1,004

1,557

-

500

1,000

1,500

2,000

2,500

3,000

2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14

Num

ber o

f Uni

ts

New Units Created in Metro Vancouver BC Housing 2004-2014

Metro Vancouver

Province of BC

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FINANCIAL IMPLICATIONS There are no financial implications. SUMMARY / CONCLUSION The provincial government has assisted with the creation of 9,183 new affordable housing units in Metro Vancouver under various programs in the past 10 years (2004/05 to 2013/14). The largest share of new units (30% or 2,785 units) created over the past ten years was funded through the Provincial Homelessness Initiative. These are transitional and supportive housing units for persons homeless or at risk of homelessness, and most were completed between 2007/08 and 2009/10. In addition, the provincial government provides rent supplement assistance in private market units for an additional 14,716 households in Metro Vancouver (in 2013). Future program directions under the updated provincial housing policy Housing Matters 2014 have not been announced, with the exception of enhancements to the two rent supplement programs. Attachments and References: Attachment 1 – New Housing Units Created by Funding Program and by Fiscal Year in Metro Vancouver 8434157

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New Housing Units Created by Funding Program and by Fiscal Year in Metro VancouverBetween 2004/05 and 2013/14

Change as ofFunding Program 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 31 Mar 2014

Provincial Housing Program (PHP) 252 110 - - 44 75 8 - - 5 494 Independent Living BC (ILBC) 212 276 549 543 149 36 - - - - 1,765 Rent Supplements 176 124 266 192 61 36 - - - - 855 New Build - 56 213 293 88 - - - - - 650 Conversions 36 96 70 58 - - - - - - 260 Provincial Homelessness Initiatives (PHI) - - 189 1,226 427 620 243 30 - 50 2,785 Housing Endowment Fund (HEF) - - - - 72 10 102 9 - - 193 Community Partnership Initiatives (CPI) 40 327 435 47 - 24 325 214 152 217 1,781 Memorandum of Understanding (MOUs) - - - - - - 80 411 304 398 1,193 Seniors Rental Housing (SRH) initiative - - - - - - 50 159 63 - 272 Aboriginal Housing Initiative (AHI) - - - - - - - 33 24 4 61 Vanoc Legacy Housing - - - - - - - 52 - - 52 Other - 32 36 - 75 61 16 19 93 255 587 Total New Housing Units Created in Metro Vancouver 504 745 1,209 1,816 767 826 824 927 636 929 9,183 Annual Report Units (Province of BC) 1,107 1,583 2,472 2,437 1,794 1,755 1,812 2,014 1,004 1,557 17,535

Notes:Annual Report Units refers to the total new housing units (administered by BC Housing) created in the Province of BC as published in BC Housing's annual reports.

Validations were conducted on previously provided reports. Any errors found were corrected, which explains why some of the data from previous years may have changed.

Prepared by BC Housing's Research and Corporate Planning Department, May 2014

Fiscal Years (April 1 to March 31)

Aboriginal Housing Initiative was added in fiscal year 2006/07, with the first project becoming operational in Metro Vancouver in 2011/12.Vanoc Legacy Housing was added in fiscal year 2008/09, with the first project becoming operational in Metro Vancouver in 2011/12.Supportive Seniors' Housing program is not included as they are renovated units, they are not new housing units.

Housing Endowment Fund was added in fiscal year 2008/09.MOUs was added in fiscal year 2007/08, with the first project becoming operational in 2010/11.Seniors Rental Housing initiative was added in fiscal year 2009/10, with the first projects becoming operational in 2010/11.

Sources: BC Housing's Annual Reports and Central Property System

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To: Housing Committee From: Don Littleford, Director, Housing Date: May 15, 2014 Meeting Date: June 13, 2014 Subject: Manager’s Report RECOMMENDATION That the Housing Committee receive the report dated May 15, 2014 titled Manager’s Report for information. Benefits Increase Under Rental Assistance Programs The provincial government announced on April 17, 2014 enhancement of two existing provincial rent supplement programs: Shelter Aid for Elderly Renters (SAFER) and Rental Assistance Program (RAP). Both programs provide eligible households earning up to a maximum household income with direct rent subsidies up to a maximum rent ceiling. Effective April 1, 2014, the maximum amount of rent ceilings used to calculate benefits for both programs was raised. In Metro Vancouver the rent ceiling increases are as follows:

SAFER · Singles $765, up from $700 · Couples $825, up from $755 RAP · Families of 3 or less, $1,055, up from $975 · Families of 4 or more, $1,190, up from $1,100

The changes are intended to recognize the rising cost of renting, both in Metro Vancouver and the rest of BC. On average, the funds will provide seniors with an additional $34/month and families with $40/month. Funding for the program enhancements will be provided through the Canada BC Investment in Affordable Housing (IAH) agreement 2014—2019 and were indicated in the provincial housing strategy Housing Matters. CHRA Congress, May 2014 April 28 – May 1, 2014, Metro Vancouver Housing staff Don Littleford and Don Driedger and Homelessness Partnering Strategy Community Entity Manager, Theresa Harding, attended the 49th Annual Congress and AGM of the Canadian Housing Renewal Association, held for the first time in Edmonton. The CHRA has a membership of 290 organizations across Canada. In consultation with its membership, the CHRA has a leadership role in advocating for issues of housing and homelessness across the nation, it produces research, and it connects its members through learning media and the National Congress. The Congress offers workshops and tours related to innovation, best practices and examples of programs, approaches and activities in response to regional, provincial and federal affordable housing and homelessness initiatives and policies.

5.2

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Staff selections ensured Metro Vancouver attendance at the widest number of workshops and tours from sustainable facilities and housing provider responses to disaster, to youth homelessness and addressing neighbourhood resistance to social housing. At last year’s Congress, an Aboriginal caucus was struck. This year marked the first full day of Aboriginal Caucus hosted workshops. The 47th Annual CHRA Congress will be held in Winnipeg. Regional Affordable Housing Strategy Update – Stakeholder Consultation Stakeholder consultation on the proposed goals and directions for an Updated Regional Affordable Housing Strategy is planned for September 2014. Dates to be announced. 7934251

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Benefits Increase Under Rental Assistance Programs

April 17th, 2014

VICTORIA – A $12.5 million annual investment from the Governments of Canada and British Columbia will enhance the existing provincial Shelter Aid for Elderly Renters (SAFER) program and Rental Assistance Program (RAP), providing greater benefits to low-income seniors and family households renting in the private market. “Our Government is committed to working with British Columbia to develop and implement local solutions to housing,” said the Honourable Alice Wong, Minister of State (Seniors). “These new investments are especially helping seniors access safe and affordable housing that meets their needs.” “Rental assistance programs give low-income households more options. They are flexible, giving families and seniors the choice of where they want to live and the cash assistance helps with housing costs,” said Rich Coleman, Deputy Premier and Minister Responsible for Housing. “The provincial government helped 26,700 households last year with the RAP and SAFER programs, and we hope to assist even more with these changes.” Effective April 1, 2014, the maximum amount of rent used to calculate benefits for both programs was increased. The change to the monthly payment will vary. On average, families will see an extra $40 per month; the average increase for seniors will be about $34 per month. Both are non-taxable benefits. In addition, for SAFER, the minimum monthly benefit will increase to $25, up from $1 and the income eligibility level will rise by approximately 9 per cent across the province. Funding for the program enhancements, totalling $62.5 million over five years, will be provided through the Canada-BC Investment in Affordable Housing (IAH) Agreement 2014-2019. Signed in March 2014 by both governments, the IAH provides an equally shared, combined investment of $300 million to support and enhance existing programs and for new construction or renovations. Since 2001, the Government of B.C. has invested $3.6 billion to provide affordable housing for low-income individuals, seniors and families. This year, more than 98,000 B.C. households will benefit from provincial social housing programs and services. To find out more about affordable housing or rental assistance programs in British Columbia visit: www.bchousing.org. The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), has invested more than $16.5 billion in housing since 2006. For B.C., this represents an investment of some $1.8 billion. By working with its partners, the federal government has helped some 880,000 Canadians individuals and families including low-income seniors, persons with disabilities, recent immigrants and Aboriginal people. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. To find out more about how the Government of Canada is working to build stronger homes and communities for all Canadians, call CMHC at 1 800 668-2642 or visit: www.cmhc-schl.gc.ca/affordablehousing.

BACKGROUNDER Rental Assistance Program Benefits Increased

Low-income seniors and families in private market housing will receive more money each month with the enhancements announced to the Rental Assistance Program (RAP) and Shelter Aid for Elderly Renters (SAFER) program. Shelter Aid for Elderly Renters (SAFER) SAFER provides direct cash assistance to eligible residents of British Columbia who are age 60 or over and pay over 30 percent of their gross monthly household income towards rent up to a maximum rent ceiling. More than 16,700 senior households receive assistance through SAFER. The average monthly payment is currently $160.

Page 1 of 2BC Housing - Benefits Increase Under Rental Assistance Programs

5/13/2014http://www.bchousing.org/Media/NR/2014/04/16/11372_1404160943-880?printerFriendly...

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Rent Ceiling Increases effective April 1, 2014

Singles: Metro Vancouver: $765 (up from $700); all other areas of B.C.: $667 (up from $610)•Couples: Metro Vancouver: $825 (up from $755); all other areas of B.C.: $727 (up from $665)•

Rental Assistance Program (RAP) Introduced in 2006, RAP provides eligible working families earning up to $35,000 a year, direct rent subsidies ranging from $50 to $765 per month up to a maximum rent ceiling depending on the size of their family and location. Currently more than 10,000 families receive assistance. On average, eligible RAP families receive about $379 a month. Rent Ceiling Increases effective April 1, 2014

Families of 3 or less: Metro Vancouver: $1,055 (up from $975); all other areas of B.C.: $970 (up from $900)•Families of 4 or more: Metro Vancouver: $1,190 (up from $1,100); all other areas of B.C.: $1,015 (up from $940)•

For more information on RAP and SAFER, visit: www.bchousing.org/Options/Rental_market. Media inquiries: Elaine McKay BC Housing 778-452-6476 Lauren Brent Press Secretary Office of the Minister of State (Social Development) 819-953-2352 Andrea Scott CMHC Communications 604-737-4064

Back to the news

Page 2 of 2BC Housing - Benefits Increase Under Rental Assistance Programs

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The City of North Vancouver OFFICE OF MAYOR DARRELL MUSSA TIO

May 9, 2014

Honourable Jason Kenney Minister Responsible for CMHC House of Commons Ottawa, ON K1A OA6

Dear Minister Kenney:

Further to North Vancouver City Council's unanimous resolution on Monday, April14, 2014 (attached), I am writing to express the City's support for Metro Vancouver's request that the federal government maintain rent-geared-to-income housing assistance for vulnerable residents of co-operatives and non-profit housing.

In the City of North Vancouver, as in other Canadian communities, co-operative housing is an important part of the housing continuum. The City of North Vancouver has become one of the least affordable housing markets in Canada, and nearly half of the City's renters pay more than 30% of their incomes on rent. This high cost of housing threatens the economic vibrancy of our City, with residents increasingly unable to afford to live in the community where they work. Co-operative housing relieves some of this pressure by providing homes and rents­geared-to-income for many families in the City of North Vancouver, who may otherwise have had to look elsewhere for housing.

Within 12 years, all of the federal operating agreements for the City's co-operative housing will have expired. With the loss of federal assistance, many residents risk displacement. Though co-ops will have paid their initial mortgage by the time their operating agreements expire, the fees that they currently collect from residents are insufficient to cover operating expenses. Co-ops would therefore have to compensate for the loss of federal subsidies by raising fees in order to run and maintain their aging buildings.

The City of North Vancouver has been working for decades to remove barriers to afford ability and assist in the creation of new housing units across the housing spectrum. The City strongly urges the federal government to maintain rent-geared-to-income housing assistance for vulnerable residents of co-ops and non-profit housing, and to maintain its current funding level for co-op housing. With a clear plan to redeploy federal savings from expiring operating agreements, these funds can be used to ensure the ongoing viability of co-operative housing and to create new opportunities for housing affordability in Canadian communities.

. .. 12

---- -- ---------141 West 14th Street, North Vancouver, BC V7M 1 H9 1 Tel: 604-998-3280 I Fax: 604-99()-421 1 I www.cnv.org I

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May 9, 2014 Honourable Jason Kenney

Thank you for your consideration of this important matter.

Yours sincerely,

Darrell Mussatto Mayor

Encl.

cc: North Vancouver City Council Andrew Saxton, Member of Parliament- North Vancouver Honourable Rich Coleman, Minister Responsible for Housing Honourable Naomi Yamamoto, MLA, North Vancouver- Lonsdale Greg Moore, Chair, Metro Vancouver Board of Directors Cooperative Housing Federation of BC

The City of North Vancouver 2

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Excerpt from the City of North Vancouver Regular Council Meeting Minutes of April14, 2014

11. Metro Vancouver, Board in Brief, March 28,2014- File: 0400-60 MV-01

Moved by Councillor Buchanan, seconded by Councillor Bell

THAT the correspondence of Metro Vancouver, dated March 28, 2014 regarding "Board in Brief," be received and filed;

AND THAT a letter be sent from the Mayor to senior levels of government regarding concerns of the expiration of co-operative housing and to express support of Metro Vancouver's position on the issue.

CARRIED UNANIMOUSLY

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THE FINANCIAL PAGE - MAY 26, 2014

Real Estate Goes Global by James Surowiecki

The most expensive housing market in North America is not where you’d think. It’s not New York City or Orange County, California, but Vancouver, British Columbia. Now, Vancouver is a beautiful city—a thriving deep-water port, a popular site for TV and movie shoots. By all accounts, it is a wonderful place to live. But nothing about its economy explains why—in a city where the median income is only around seventy grand—single-family houses now sell for close to a million dollars apiece and ordinary condos go for five or six hundred thousand dollars. “If you look at per-capita incomes, we look like Reno or Nashville,” Andy Yan, an urban planner at the Vancouver-based firm Bing Thom Architects, told me. “But our housing prices easily compete with San Francisco’s.”

When price-to-income or price-to-rent ratios get out of whack, it’s often a sign of a housing bubble. But the story in Vancouver is more interesting. Almost by chance, the city has found itself at the heart of one of the biggest trends of the past two decades—the rise of a truly global market in real estate.

We’re all familiar with the stories of Russian oligarchs buying up mansions in London, but this is a much broader phenomenon. A torrent of capital from wealthy people in emerging markets—from China, above all, but also from Latin America, Russia, and the Middle East—has flowed into the real-estate markets of big cities in other countries, driving up prices and causing a luxury-construction boom. A recent report by Sotheby’s International Realty Canada examined more than twelve hundred luxury-home sales in Vancouver in the first half of 2013 and found that foreign buyers accounted for nearly half of sales. In Miami, a huge influx of money from Latin America has enabled the city’s housing market to recover from the bursting of the housing bubble, and has set off a condo-construction spree. Australia has become a prime market for Chinese investors, who Credit Suisse estimates will buy forty-four billion dollars’ worth of real estate there in the next seven years.

What’s so special about the places that attract all this foreign money? The economists Joseph Gyourko, Christopher Mayer, and Todd Sinai have developed a theory about what they call “superstar cities.” Looking at data from 1950 to 2000, they found a small number of cities where housing prices rose steeply, and concluded that high earners tended to cluster together over time, with the result that rich cities tend to get richer.

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Vancouver isn’t an obvious superstar. It’s not home to a major industry—as New York and London are to finance, or San Francisco to tech—and it doesn’t have the cultural cachet of Paris or Milan. Instead, Vancouver’s appeal consists of comfort and security, making it what Andy Yan calls a “hedge city.” “What hedge cities offer is social and political stability, and, in the case of Vancouver, it also offers long-term protection against climate change,” he said. “There are now rich people around the world who are looking for places where they can park some of their cash and feel safe about it.” A recent paper by two Oxford economists bears this out, showing a tight correlation between London house prices and turmoil in southern and Eastern Europe. The real-estate boom in Miami has been magnified by political unrest in Venezuela. And Vancouver, which has a large Chinese population, easy access to the Pacific Rim, and nice weather, has become a magnet for Chinese investors looking for insurance against uncertainty. A Conference Board of Canada report found that Vancouver’s real-estate market is tightly connected to what happens in the Chinese economy.

The globalization of real estate upends some of our basic assumptions about housing prices. We expect them to reflect local fundamentals—above all, how much people earn. In a truly global market, that may not be the case. If there are enough rich people in China who want property in Vancouver, prices can float out of reach of the people who actually live and work there. So just because prices look out of whack doesn’t necessarily mean there’s a bubble. Instead, wealthy foreigners are rationally overpaying, in order to protect themselves against risk at home. And the possibility of losing a little money if prices subside won’t deter them. Yan says, “If the choice is between losing ten to twenty per cent in Vancouver versus potentially losing a hundred per cent in Beijing or Tehran, then people are still going to be buying in Vancouver.”

The challenge for Vancouver and cities like it is that foreign investment isn’t an unalloyed good. It’s great for existing homeowners, who see the value of their homes rise, and for the city’s tax revenues. But it also makes owning a home impossible for much of the city’s population. And the tendency of foreign buyers not to inhabit investment properties raises the spectre of what Yan has called “zombie neighborhoods.” A recent study he did found that a quarter of the condos in a luxury neighborhood called Coal Harbour were vacant on census day.

One option would be to severely restrict foreign ownership, but that’s politically difficult, and not great for a city’s economy. It might make more sense if the Vancouvers of the world simply charged foreign buyers a premium for the privilege of owning there. “We’re one of the places where people seem to want to park their cash, and there aren’t that many of those places,” Yan says. “So let’s raise the parking fees.” As for the rest of us, we’d better get used to being tenants. ♦

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