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Local Government Policy and Regulatory Environment

Local Government Policy and Regulatory Environment

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Local Government Policy and Regulatory Environment

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Presentation Transcript

  1. Local Government Policy and Regulatory Environment • Local governments can play a key role in encouraging housing affordability and building capacity. • They can: • control policy and regulatory areas • be collaborative and encourage innovation • bring together a wide range of community interests to address local affordability needs • contribute resources

  2. Local Government Policy and Regulatory Environment • Information has been collected from all jurisdictions - 12 have “signed-off”.

  3. Local Government Policy and Regulatory Environment • What has been collected?

  4. Local Government Policy and Regulatory Environment • What have we found out? • Most local governments in the CRD are not using the tools available. • Most jurisdictions have…. • OCP policies /goal statements about meeting the housing needs of their residents (12) • Density bonusing (7) • Comprehensive development zoning regulations (11) • Intensification - e.g. infill usually through duplexing (9) and /or small lots (8) • Mixed-use /shared facilities (9) • Secondary suites (8) • Information on demolition /conversions and construction costs • Public consultation /notification policies and practices

  5. Local Government Policy and Regulatory Environment • What have we found out? • Most local governments in the CRD are not using the tools available.. • Most jurisdictions do not have…. • Definitions of affordable /special needs housing (5) • Housing strategies, needs studies, homelessness studies or residential design guidelines • Pre-zoning for multi-family (5) • Alternate development standards (6) /relaxed standards (5) • Maintenance bylaws (1) • Demolition /conversion regulations (5) • Partnerships (4) • Waived /reduced fees, funding, and /or property tax exemptions (3) • Land leasing /donations at /below market value (2) • Fast tracking or streamlined approval processes (4)

  6. Local Government Policy and Regulatory Environment • DEVELOPMENT COSTS - What have we found out? • Identification and calculation is complex and time consuming - 14 local governments x 20+ sets of fees and charges • Little consistency amongst jurisdictions - even in the same part of the Region • No consistency within individual jurisdictions - costs can fall in the low, mid, high range • Additional charges are often added to the base fee - this varies by jurisdiction • Charges may be levied regionally, locally, and/or by other bodies - and for different purposes

  7. Local Government Policy and Regulatory Environment • We need to validate the information we have collected. • You can help us by: • Providing observations/comments/reactions on the data presented • Providing your perceptions of the major issues for housing affordability that arise from the data • Identifying how the data could be presented to make it useful

  8. Land & Residential Construction Costs Cost ranges for “affordable” serviced land, examples:

  9. Land & Residential Construction Costs Typical Construction Costs per square foot:

  10. Land & Residential Construction Costs Other costs of construction: • environmental assessments • legal fees • Interest costs • Soil tests • Lender fees • marketing • Warranty costs • Engineering fees • Architectural fees • Building permits and Development cost charges • Bonding • Mortgage insurance premiums and fees

  11. Land & Residential Construction Costs Range of total construction cost for “affordable housing”, examples:

  12. Partnerships, Financing and Tenure Options Some models used to improve housing affordability: • Rental housing – market • Rental housing – non-profit (with and without government subsidies) • Life leases – guaranteed buyback • Ownership housing – condominium and freehold • Rental co-operative • Equity co-operative • Ownership housing – sweat equity and philanthropy • Shared equity • Co-housing • Land trusts and housing trusts

  13. Partnership examples: Christian Care of the Elderly Pacifica Housing development Society St. Andrews Victoria Housing Society PEERS St. Vincent de Paul of Vancouver Island Mike Gidora Place – Cool Aid Victoria Habitat for Humanity Partnership arrangements: The Christian Care of the Elderly building is one of only two or three true “public-private partnership” projects in B.C. The other projects were made possible through a combination of grants, donations, sweat equity and other beneficial arrangements. Partnerships, Financing and Tenure Options

  14. Financing examples: Mike Gidora Place Saamoa Holdings Kiwanis Village Apartments Financial arrangements: Subordinated debt. Second and third mortgages with grants. “High ratio” homeowner loans. Internal capital without mortgage financing. Partnerships, Financing and Tenure Options

  15. Tenure examples: James Bay Housing Co-operative Lions Cove View Royal Cardiff Place Tenure arrangements: Land trusts. Life leases with a guaranteed buyback. Collaborative or co-housing. Partnerships, Financing and Tenure Options

  16. Partnerships, Financing and Tenure Options