UPDATING THE LOW-END MARKET RENTAL (LEMR) PROGRAM TO SUPPORT THE DELIVERY OF AFFORDABLE HOUSING

At present, there are 205 LEMR units across four developments which have been granted conditional approval (i.e., 3rd reading of a zoning amendment bylaw), but for which a housing agreement has yet to be executed. The signed rezoning considerations for these developments reflect the maximum rent and income thresholds set out in the current LEMR Program framework. If Council were to approve of changes to the LEMR Program framework, staff suggest that Council direct that these developments be subject to any adjusted maximum rent rate and income threshold.

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