On May 12, Council directed staff to report back with amendment Bylaws regarding the new Density Bonus (DB) and Inclusionary Zoning (IZ) Policies. The report outlines the financial analysis to update expectations regarding Inclusionary Zoning and Density Bonus. 

On the IZ, the report proposes a two-phased approach:

1. As part of Phase 1 for 2026, the current policy could be maintained, which includes the provision for any IZ component to be supported by financial analysis. While the market continues to fluctuate, the current policy could stand (up to 15% below market rental or 6% non-market units – or less (to zero)) where not financially feasible;
2. In parallel with the density bonus two phase process, Phase 2 would be in 2027, where further review of the policy could occur and potential changes made depending on further analysis, market conditions, and further consultation with stakeholders.

On the DB, the report also proposes a two-phased approach:

1. A basic update focused on securing affordable housing, to meet provincial requirements and timelines, and proposing the following:

   

    

2. Phase 2 will include a future, more detailed approach following the completion of other neighbourhood planning projects currently underway that will consider other amenities not covered under the Amenity Cost Charge (ACC) Bylaw.

UDI will be engaging with the City at the upcoming Liaison Committee meeting. More information can be found in the full report by City staff.