Official Community Plan

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4. The City may elect to accept in-kind amenities in the form of tangible capital assets, including land, and/or monetary contributions. The general preference of amenities is in the

d. In the instance of stratified condominium units, below-market units shall not be permitted to be rented. e. Housing agreements or 219 covenants will be registered on title to secure the specific housing requirements of the negotiation. Where housing agreements are used, they may stipulate conditions in accordance with S.483 of the Local Government Act including: the form of tenure of the housing units; the availability of the housing units to classes of persons; the administration and management of the housing units; and rents and leases, sale or share prices that may be charged, and the rates at which they may be increased over time. 6. City facilities and services that should be considered in such assessments and mitigation proposals include, at a minimum, but are not limited to, the following: • Roadways, street works, and landscaped boulevards and buffer areas; • Sidewalk and trails; • Park land and facilities; • Open spaces for passive park use; • Protection of natural areas in addition to Environmentally Sensitive Area protection requirements; • Recreational space, equipment, or facilities; • Community activity centres, daycare centres, arts, culture, and library facilities; and

following order: A. Capital assets:

i. Affordable housing units, in instances where residential units, including freehold properties, are being developed. ii. Capital asset 'in-kind' community amenities listed further in Policy 5 and 9 in this section. B. Monetary contribution: i. Affordable Housing Amenity Reserve Fund in the amounts stated in Tables D-3 (contribution per multi-residential unit) and D-4 (contribution per lot). ii. Parks, Recreation, Culture and Senior Facilities Amenity Reserve Fund in the amount stated in Table D-5. 5. In the case of rezoning applications that permit multi-unit rental apartments or stratified condominiums, the preferred form of CAC is a provision of below-market unit(s) in respective tenure forms. The affordable housing CAC target details are as follows: a. 15% of units at 30% below market rate in case of stratified condominiums; or 30% below market rental rates in case of rental apartments. b. The below-market units shall be representative of the mix of units in the development proposal with a goal of providing units with two bedrooms or more for family housing. c. The units should retain their 30% below market rate in perpetuity regardless of tenure.

City of Courtenay Official Community Plan