Report on the 2008 – 2012 Housing Business Plan Report on the 2008 – 2012 Housing Business Plan Housing has become less affordable in Saskatoon’s booming economy Saskatoon Housing Price Increases vs. Income Increases 400,000 350,000 300,000 Aveage House Price (includes condos) 250,000 200,000 150,000 Average Household Income 100,000 50,000 0 2005 2007 2009 2011 2013* *projected Report on the 2008 – 2012 Housing Business Plan The Target: 500 new affordable units per year The Budget: Over $15 million was allocated to support the target of 2,500 units. Report on the 2008 – 2012 Housing Business Plan The Results: Affordable Rental: Secondary Suites: Affordable Ownership: Market Rental: Entry Level Ownership: Total: 529 251 429 858 467 2,534 units Report on the 2008 – 2012 Housing Business Plan Government Partners: Report on the 2008 – 2012 Housing Business Plan Other Partners: 32 partners Non Profit Providers: Private Builders: Financial Institutions: Faith Based: University: Total: 9 15 3 4 1 32 Report on the 2008 – 2012 Housing Business Plan The Investment: Each City dollar was matched by at least $20 of investment from other partners. Proposed Ten Year Housing Business Plan 2013 - 2022 The City’s Role in Housing Long Term Strategy: “To increase the supply and range of affordable housing options.” The City’s Role in Housing Affordable Rental Entry Level Ownership Affordable Ownership Purpose Built Rental Government of Saskatchewan Partnerships • Rental Construction Incentive • Affordable Home Ownership Program • Rental Development Program • Secondary Suite Program • Head Start on a Home Government of Canada Partnerships Homeless Partnering Strategy: • funding for shelters and transitional housing CMHC: • housing market research • SEED funding • proposal development grants Partnerships With All Sectors Faith Based Non-Profit Private Sector Aboriginal Core Business Plan Strategies • Policy Tools • Financial Incentives • Partnerships • Research • Public Education Priorities • Attainable Housing in all Neighbourhoods • Accessible Housing • Neighbourhood Revitalization • Safe and Adequate Housing • Meeting Identified Needs • Innovative and Efficient Housing What’s New in this Plan? Points System to earn capital grant of up to 10 percent: • Accessible Units  • Neighbourhood Revitalization  • Mixed Tenure  • Safe Housing  • Supportive Housing…… What’s New Land Cost Differential Incentive: • additional 5 percent grant to offset additional land cost of building in areas lacking affordable rental housing. What’s New Funding the Housing Business Plan 1. $ 2 million = 500 units (full continuum) 2. 3. 4. 5. $ 1 million = 465 units (less affordable rental) Defer decision to wait for NLDF dividend $355,000 = 430 units (no affordable rental) $335,000 = 100 entry level (no tax abatement or deferral funding) 6. $0 = no housing program