Affordable Housing Motion

I will be making the following motion at the January 16th meeting of the London Housing Advisory Committee:

  1. Recalling that London’s Community Housing Strategy was approved by Council in 2010;
  2. Acknowledging that objective 5.3 of the strategy is to “Maintain annual $2 million City investment in affordable housing”;
  3. Recognizing that every $1 of municipal investment has historically leveraged $7 of investment from other orders of government and the private sector;
  4. Acknowledging that best practice in affordable housing is a ‘toolbox’ approach that includes both less expensive temporary units and more expensive permanent units;
  5. Noting that the existing Affordable Housing Reserve Fund is already fully committed to outdraws;
  6. and noting that of the City goal of 1000 new affordable housing units our current Program Delivery and Fiscal Plan is for 614 new units:

Motion: The London Housing Advisory Committee recommends that City Council reaffirm its commitment to the London Community Housing Strategy, in particular objective 5.3 to maintain an annual $2 million City investment in affordable housing.

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