Administration is proposing approximately $35 million be allocated to incentive programs supporting affordable housing, multiple-unit dwellings and development on city-owned land.
Saskatoon's planning and development committee looked at a report on Wednesday with recommendations on how to incentivize developers to build more affordable housing in the city. .Saskatoon’s planning and development committee looked at a report on Wednesday with recommendations on how to incentivize developers to build morebe allocated to incentive programs that will support affordable housing , multiple-unit dwellings in priority growth areas and housing development on city-owned land.
Affordable rental units and city-owned land developments would also be eligible for a five-year incremental tax abatement subject to city council approval. Kristen Thoms with Quint Development Corporation said her company would have to look at stacking the incentives with other funding initiatives with the province.Thoms added that the incentives would also have to cover a good portion of the upfront costs to be sustainable long-term.“Sustainable for the housing provider, but affordable for the tenants moving into those units,” she explained.
“The notion of affordability is important but what providers don’t want to be saddled with is 20-year control agreements that prevent them from raising rent at all and not being able to maintain the investment in their properties,” Choquette said.Saskatoon resident Karen Kobussen said the city should focus on funding housing that is currently not utilized in already existing neighbourhoods.Kobussen suggested the city look into “asset-based community development.
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