City administration identified the strategy will require $57.5 million in one-time funding, $27 million in base operating funds and $10 million in annual capital costs through its lifespan to 2030.
The strategy was approved with a contentious item that divided council, which recommends changing the city’s default residential zoning to RC-G, a zoning district that allows for a more diverse mix of higher density housing, such as duplexes and rowhouses. Council ultimately voted 12-3 to approve the strategy with some councillors opposed to the zoning reform choosing to vote in favour of the overall plan.Only Councillors Peter Demong, Sean Chu and Dan McLean voted against the strategy.“I think we all want more homes built, more affordable homes,” McLean told reporters following the meeting. “But if I truly thought that blanket up-zoning of the entire city would provide more affordable homes, I would’ve voted for it. But I don’t, so I didn’t.
The changes include using funds from the Downtown Development Incentive Program for office conversions to create more residences for post-secondary students.