Council Direct Staff to Prepare Business Case

At the July 11, 2023, Regular Council Meeting, Council directed staff to prepare a business case on the development of a municipal housing corporation including identifying funding opportunities through Provincial and Federal entities.

This report comes after the Housing Supply Act was implemented by the Provincial Government requiring municipalities to work towards targets in housing development. It is not clear the level of progress expected by the Province in housing development, but the new legislation allows the Province to intervene in approving developments contrary to zoning or official community plan bylaws.

Since 2017, the Town has taken actions that encourage diverse housing developments, starting with the Official Community Plan. Within the plan, there is an encouragement of smaller homes on smaller lots which was identified through significant input by members of the public. Further, the Town has completed the other initiatives to encourage housing development:

• Updated zoning bylaw allowing secondary suites whether attached or detached to primary dwelling;
• Increased density that can be built within a property;
• Adopted a tax exemption bylaw that provided 100% tax exemption on municipal taxes for the creation of new rental units;
• Completed a Housing Needs Assessment that provided projections on number of housing units required, as well as some of the complexity of the local housing crisis;
• Adopted a Rental Standards Bylaw to protect renters and provide guidance to minimum standards for landlords;
• Created the Housing Hub Website; and
• Completed a Creston Housing Action Plan that had 19 recommendations to further encourage housing development.

Studies have shown that in rural communities, policy change on its own does not result in increased housing. The creation of a housing corporation will allow the municipality to provide housing as a service.

Click here to read the July 11, 2023 Staff Report to Council.

Click here to read the "A Scan of Leading Practices in Affordable Housing".