Review of Low-End Market Rental Contribution Rates

2018 The 2017 – 2027 Affordable Housing Strategy was adopted. The LEMR contribution rate increased from 5 per cent to 10 per cent and the threshold of applicability was reduced from 80 to 60 units; cash-in-lieu of built LEMR homes applied to projects having fewer than 60 units. LEMR rents were set at 10 per cent below CMHC’s 2016 average market rent (AMR) for Richmond. Income thresholds were set at 10 per cent below BC Housing’s 2016 HILs. 2021 The LEMR contribution rate applicable to projects in the City Centre was increased from 10 per cent to 15 per cent; outside the City Centre the rate was held at 10 per cent. Rent rates and income thresholds remained unchanged from those set in 2018, being fixed against 2016 benchmarks.

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