December 2024 Radium Hot Springs Draft OCP Presentation - Flipbook - Page 52
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VILLAGE OF RADIUM HOT SPRINGS OFFICIAL COMMUNITY PLAN
SECTION 5
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5. COMMUNITY-WIDE POLICIES
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5.1
HOUSING
INTRODUCTION
Housing is a core human need and the Village
is committed to providing housing to meet the
needs of its community.
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The Local Government Act requires that Of昀椀cial
Community Plans:
“...must include housing policies of the local
government respecting each class of housing
needs required to be addressed in the most
recent housing needs report”.
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The Village’s current Housing Needs Report
(July 2024), uses the 昀椀ve provincial classes of
housing needs:
1. Supply to Reduce Extreme Core
Housing Need
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2. Supply to Reduce Homelessness
3. Supply to Reduce Suppressed
Household Formation
4. Supply to Meet Household Growth
5. Vacancy Rate Adjustment
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Affordable Housing: means housing that is
offered for rent at, or below, the affordable
monthly rent as de昀椀ned in the Village’s most
recent Housing Needs Report.
Different levels of affordable housing
exist including:
Deep affordability: Housing targeted towards
those on Income Assistance, based on BC
shelter maximum rates.
Below-market affordable housing: Housing
targeted towards those making less than 75
percent of median household incomes.
Near-market affordable housing: Housing
targeted towards those making 75 percent of
median household incomes and above, but not
able to afford new market rental rates. Rates are
based on a range between the cap of below
market affordable rates above and Housing
Income Limits provided by BC Housing.
New market rental housing: Housing
targeting higher income renters who are
able to afford full market rental rates. (No
income restrictions.)
