|
CITY OF VANCOUVER ADMINISTRATIVE REPORT |
Date: |
January 5, 2004 | |
Author: |
Rob Whitlock | |
Phone No.: |
604-873-7432 | |
RTS No.: |
03657 | |
CC File No.: |
2001 | |
Meeting Date: |
January 27, 2004 |
TO: |
Vancouver City Council |
FROM: |
Director of the Housing Centre |
SUBJECT: |
Civic Grant to the Katherine Sanford Housing Project at 475 East Hastings Street |
RECOMMENDATION
THAT Council approve a grant of up to $81,000 to the Katherine Sanford Housing Society for design feasibility study fees for their housing project at 475 East Hastings Street; source of funds to be $20,000 from the Vancouver Public Library (VPL) basic Capital account and $61,000 from the Affordable Housing Fund.
This recommendation provides for a grant and requires eight affirmative votes of Council.
GENERAL MANAGER'S COMMENTS
The General Manager of Community Services RECOMMENDS approval of the foregoing.
COUNCIL POLICY
· It is City practice to purchase sites and lease them to non-profit housing societies or co-operative associations for 60 years at a pre-paid rent of 75% of freehold market value.
· October 1, 2003, City Council approved the proposed lease terms for 475 East Hastings Street, for the Katherine Sanford Housing Society.
PURPOSE
The Director of the Housing Centre has received a request from the Katherine Sanford Housing Society to cover design fees in the amount of $81,000 associated with a feasibility study for the site at 475 East Hastings Street. The original development proposal for the site included a Vancouver Public Library community branch at grade, which ultimately did not proceed.
BACKGROUND
City Council approved the acquisition of 475 East Hastings Street on September 18, 2001. The site was purchased primarily for a non-market housing development, sponsored by the Katherine Sanford Housing Society, and possible inclusion of a community branch library for the Strathcona/Downtown Eastside areas. City acquisition occurred on December 13, 2001.
On October 1, 2003, City Council approved the terms of the lease for Katherine Sanford (60 year pre-paid lease at $626,250) and also chose not to proceed with the branch library. Once the decision had been reached, it was necessary for Katherine Sanford Housing Society to commission its architects to undertake a complete redesign of the project. The cost of the first design has been stated at $81,000 by Neale Staniszkis Doll Adams Architects. On March 31, 2003, the Development Permit Board approved DE406835 to construct a low income seniors multiple dwelling, consisting of 51 units, amenity space and parking for six vehicles. This project will be one of the last funded under the now cancelled HOMES BC program.
DISCUSSION
The feasibility study including the Library was fully at the instigation of the City and the Library Board. Therefore, the Director of Housing Centre is recommending that the fees be reimbursed to the Society. The VPL has agreed to contribute 25% of these costs.
Elimination of the proposed library did have other financial implications for the project, increasing the pre-paid rent from $439,700 to $626,250. However, earlier in the process, Housing Centre staff had asked the Society's consultants to ensure that the project was viable without the library component, and the revised rent was accepted by the Society and BC Housing.
CONCLUSION
The Director of the Housing Centre supports this project and that the fees associated with the project design feasibility with the library, estimated at $81,000, be paid to the Katherine Sanford Housing Society.
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