Motion would effectively downzone a number of properties, arbitrarily decreasing their value without consultation with affected landowners
On Wednesday, June 12, Council will be hearing from speakers on a motion to extend the Rental Housing Stock Official Development Plan (ODP) to C-2 zones. This would move the 1 to 1 replacement of rental housing requirement beyond the RM zones and onto commercially zoned property. While this seems nominal, the results of the ODP on the existing stock has proven to be ineffective over the past 10 years. Nothing happens—not even 5 for 1 replacement generates support! We have been strongly against the moratorium from the very beginning, as has been continually documented in historical Goodman Reports. Watch David Goodman speak out against the moratorium from 10 years ago.
In our opinion, if this motion is adopted, it would represent a downzoning, thereby decreasing value without consultation with affected landowners, or any research and analysis from City staff. This is not stable or sound public policy making.
Many builders have purchased properties and obtained financing and paid property taxes for projects based on the City’s established policies and requirements. Council is now contemplating changing the rules, which could have substantial negative impacts for property owners, with little notice.
The Urban Development Institute has raised concerns regarding the motion in a May 27 letter to Council, and will be speaking to the motion on June 12.
We recommend you consider writing to Council (just simply click on the below emails below) or sign up to speak against the motion. We are asking that Council not pass this motion, and appropriately refer the motion to staff for proper due diligence and analysis prior to Council’s consideration of this important matter.
E-mail addresses for members of Vancouver Council:
Mayor Kennedy Stewart, Councillor Rebecca Bligh, Councillor Christine Boyle, Councillor Adriane Carr, Councillor Melissa De Genova, Councillor Lisa Dominato, Councillor Pete Fry, Councillor Colleen Hardwick, Councillor Sarah Kirby-Yung, Councillor Jean Swanson and Councillor Michael Wiebe