HOUSING AGREEMENT (MODERATE MARKET RENTAL HOUSING) BYLAW NO. 10528 AND HOUSING AGREEMENT (MARKET RENTAL HOUSING) BYLAW NO. 10522 TO PERMIT THE CITY OF RICHMOND TO SECURE MODERATE MARKET RENTAL AND MARKET RENTAL UNITS AT 8880 COOK ROAD AND 8751 CITATION DRIVE

April 24, 2024 - 2 - Staff Report Origin The purpose of this report is to recommend that City Council give first, second and third readings to Housing Agreement (Moderate Market Rental Housing) Bylaw No. 10528 to secure at least 68 moderate market rental units, and Housing Agreement (Market Rental Housing) Bylaw No. 10522 to secure at least 271 market rental units at 8880 Cook Road and 8751 Citation Drive (Attachment 1). GBL Architects, on behalf of 1166225 B.C Ltd. and Cook & Citation Limited Partnership, has submitted an application to amend the City of Richmond's Official Community Plan (OCP) and Richmond Zoning Bylaw 8500 to pennit the development. The OCP amendment is required to enable an apaiiment form of construction with integrated ground-oriented townhomes. Council granted first reading to the amending bylaws on September 7, 2022. A public hearing for the amendments was held on October 17, 2022 following which Council granted second and third readings to the amending bylaws. The rezoning considerations tied to the project require the registration of a Housing Agreement in addition to a Housing Covenant to secure the rental tenure of the 339 units in perpetuity. This report supports Council's Strategic Plan 2022-2026 Focus Area #2 Strategic and Sustainable Community Growth:

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