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Mayor launches #yegYIMBY day in Edmonton for affordable housing


City program to use surplus school sites for affordable housing.
I have to imagine this whole program could now be cancelled/stalled after the province's announcement on new school construction funding...
 
Not sure if this was posted already

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  • Administration is seeking council approval to sell or lease 11 surplus school sites so they can be used to build affordable housing. Council rezoned the school sites in the fall. Industry partners told administration that selling the sites is the quickest and simplest way for providers to secure additional funding and financing as they would hold direct equity in the land. However, if the land is sold instead of leased, the city would give up long-term control over housing affordability on these sites, as affordable housing agreements can be negotiated for a term of up to 40 years. Administration said it would consider lease or sale for each site on a case-by-case basis. City staff are also seeking approval for capital grants to incentivize developing the sites. The grants will cover up to 25% of the capital costs for the affordable housing units, including the value of the land, or more if the projects provide greater affordability or exceed energy efficiency requirements. Council’s executive committee will be asked to approve the sale or lease of the school sites and the affordable housing grants at a meeting on Jan. 22. If it does, the decision will go to city council for a final vote.
 

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