Response to Provincial Housing Bills: Density Bonus and Inclusionary Zoning Requirements and Associated Zoning Bylaw Amendments

Reserve Funds The Local Government Act, as amended by Bill 16, requires that cash-in-lieu contributions received under density bonus and inclusionary zoning bylaws be held in new dedicated reserve funds, separate from the City’s existing Affordable Housing Reserve, and used for capital costs for delivering affordable housing only. Given the recommended retention of density bonus in standard SSMUH zones, the City must establish a new reserve, which will be called the Affordable Housing Density Benefits Reserve Fund, for cash-in-lieu of affordable housing received through a density bonus bylaw. For zones that do not include any density bonus, cash- in-lieu contributions for affordable housing can continue to be secured through rezoning negotiations and can be deposited into the City’s existing Affordable Housing Reserve for capital and/or operating costs, as determined to the satisfaction of Council.

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