As mentioned in previous updates, at their regular meeting on July 28th, Council approved the proposed Low-End Market Rental Parking, Tenant Asset and Income Exceedance Council Policy. The Policy would recognize within the framework of the City's LEMR Program, the ability to charge tenants for the use of parking, to establish limits on the amount of any assets held by a LEMR tenant when qualifying for housing, and to recognize factors that may warrant an exemption from the City's enforcement of a limited income threshold exceedance. 

Proposed Parking Charge Policy  

Staff recommend that the Low-End Market Rental Parking, Tenant Asset and Income Exceedance Policy, outline a parking charge rate that would apply to parking stalls allocated to tenants of LEMR homes at a set rate of $100 per month inside TOA and $75 per month outside of TOA. The monthly parking charge rate would be fixed, with no adjustment for CPI or RTA. The parking rate may be reviewed every three years by the Director, Housing to determine its ongoing suitability, unless otherwise determined necessary. A parking charge for accessible parking spaces allocated to LEMR homes would be prohibited, and compliance would be achieved through the City's statutory declaration process. For existing tenancies, a parking charge could only apply at unit turnover with a new tenancy agreement and subject to the charge being enabled within a new or amended housing agreement. 

Proposed Limit and the Assets Considered within the Policy  

Staff are recommending that the asset limit tied to LEMR homes to be set at less than $100,000 per household. Terms will be added to the City's standard housing agreement to recognize this limit and to reference the Council Policy. Tenants will be required to provide proof of assets as part of the statutory declaration process and priority will be given to those households with lower assets when vetting new tenants. Similarly to parking charges, the asset limit may be reviewed every three years by the Director, Housing, to determine its ongoing suitability, unless otherwise determined necessary.  

For existing tenancies, the asset limit may only apply at unit turnover with a new tenancy agreement and subject to the change being enabled within a new or amended housing agreement. Where a developer believes there is a reasonable and demonstrable need for a higher asset limit for their LEMR homes, for example, for purpose-built seniors housing, they may apply to Council for an increase to the limit when negotiating the housing agreement for their development.  

Proposed Council Policy for Instances of Income Exceedances  

Staff recommend a Council Policy that details the following considerations to be had in determining whether or not to grant an exemption to instances of gross household income exceedance:  

1. The basis for the income exceedance demonstrates that it is limited and unlikely to reoccur;  

2. The income exceedance has not occurred in the two years preceding the year of default; and  

3. The extent of the exceedance is limited to no more than 10% of the income threshold applicable to LEMR and non-market rental homes.  

Additional information can be found in the  full report by City staff. 

March 4, 2025 

As mentioned in previous updates, at their General Purposes Committee on May 5th, Council referred the proposed recommendations regarding charging fees for parking allocated to Low-End Market Rental (LEMR) Units back to staff directing them to recommend parking rates for LEMR units based on various factors. The report outlines four options for Committee consideration as they relate to enabling a LEMR homeowner to charge tenants for the use of parking in multi-family development. The associated recommendation to proceed with Option 4: Permit Parking Charge at the Market Rate in TOA, and at a Below-Market rate outside of TOA was referred back to staff.  

Additional information can be found in the  full report by City staff. 

March 4, 2025

At their regular meeting on February 24th, Council referred the report titled “Referral Response: Charging Fees For Parking Allocated To Low-End Market Rental (LEMR) Units In Transit-Oriented Areas (TOA)”, back to staff to recommend limits to parking fees and other options for parking stalls for Low-End Market Rental units. 

Additional information can be found in the meeting minutes and  full report by City staff.