At their meeting on September 23rd, Council endorsed the Interim Development Review Framework (IDRF) and approved the Interim Density Bonus Policy by moving a motion to revise the policy to include density bonus payments for purpose-built market rental housing. On October 7th, UDI submitted correspondence  to the City asking them to reconsider this amendment and exclude PBR from density bonus payments. At their regular council meeting on October 7th, Council approved an amendment to the Interim Density Bonus Policy to exclude Purpose-Built Rental buildings from density bonus payments.  

The interim policy is now in effect until the City transitions to the new financing growth tools which staff anticipate being completed by the end of 2025. 

The Interim Density Bonus Policy is now: 

• Applicable to all rezoning applications that are in-line with the Official Community Plan (OCP). 
• Not applicable to OCP Amendment Applications as these applications will continue to require an in-depth financial analysis.  
• Not applicable to purpose-built market and affordable rental floor space.  
• Providing a cash-in-lieu option for any proposed density above existing entitlements while continuing to allow a path for applications to provide affordable housing units or other in-kind amenities.  
• Applicable to zoning applications reaching Third Reading prior to implementation of the financing growth strategy, excluding those that had a Council-endorsed amenity contribution proposal prior to the new legislation being put into place. 
• Charging an initial fixed rate of $50/sq.ft. of additional area above existing entitlements. (Rates will be published online and reviewed annually).  
• Applicable to high density development across the City. 
• Collecting payments at Building Permit issuance and charged at the published rate at that time.  
• Requiring developers who wish to utilize the provisions of the policy to provide a commitment letter early in the rezoning review. 
• Requiring developers to register a Section 219 Covenant on title agreeing to either deliver the inclusionary housing or to provide the cash contribution at building permit, at the rate set at the time of building permit application, and valid for 12 months. 
• Placing collected funds into a reserve fund. 

Updates to the Interim Development Review Framework are detailed below:  

Additional information can be found in the  full staff report,  interim density bonus policy,  interim development review framework and UDI letter to Council.