Surrey official source 7922-0221

Staff Report to Council Application No.: 7922-221-00/7922-0222-00 Planning & Development Report Page 15 and moving expenses and should be based on the assessed value of the manufactured home; and  On-site Affordable Housing Option: Where a significant number of new housing units are being constructed, the provision of affordable rental or market housing on the development site. • In accordance with Policy No. O-34A, the applicant has taken the following actions: o Notified the property residents of the proposal to redevelop the property at the time the development application was submitted to the City; o Met with each resident individually to review Policy No. O-34A and the proposed Affordable Housing Program; o Collected demographic profiles, affordable housing preferences and home assessments for each manufactured home on-site; and o Communicated the timing of information meetings and the public process in accordance with City requirements. • The applicant has indicated that they have adhered to and exceeded the requirements in City Policy No. O-34A. This includes providing an Affordable Housing Program/Relocation Strategy for the existing residents. Affordable Housing Program/Relocation Strategy • The current land-use on the subject site is an existing manufactured home park that contains approximately 292 occupied manufactured homes. As per City Policy No. O-34A, the applicant will be responsible for relocating the existing residents in an appropriate manner acceptable to the residents and Council as well as complying with Provincial regulations outlined within the Manufactured Home Park Tenancy Act. • The applicant formulated an Affordable Housing Program, as required under City Policy No. O-34A, in order to offer an appropriate relocation strategy for existing manufactured home residents on the subject site. The applicant’s program includes the following options: o Option A: Sell the manufactured home for the greatest value of the following:  Singlewide unit: $250,000  Doublewide unit: $350,000  2022 BC Assessment Value of the manufactured home; or  What the tenant paid for their home + 10% If, at the time of completion, real estate prices are higher than they are at the time of entering into an agreement with the applicant, then the applicant will increase the compensation by the same percentage increase as published by the Fraser Valley Real Estate Board for detached homes.

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