REQUEST FOR DECISION
DATE: March 1, 2021 Report No. DEV-21-018
TO: Laurie Hurst, Chief Administrative Officer
FROM: Bill Brown, Director of Development Services
SUBJECT:
Title
Housing Agreement between Aragon Esquimalt TC Properties Ltd. Inc. No. BC1068481 and The Corporation of the Township of Esquimalt.
End
RECOMMENDATION:
Recommendation
That Council give 1st, 2nd and 3rd readings to Housing Agreement (505 Park Place) Bylaw, 2021, No. 3020.
Body
RELEVANT POLICY:
Local Government Act
Official Community Plan Bylaw, 2018, No. 2922
STRATEGIC RELEVANCE:
Healthy, Livable, and Diverse Community
Support community growth, housing and development consistent with our Official Community Plan (OCP)
BACKGROUND:
Schedule A: Bylaw No. 3020 Housing Agreement (505 Park Place) Bylaw, 2021, No. 3020 with Housing Agreement signed by Aragon Esquimalt TC Properties Ltd.
Chronology:
July 11, 2016 Rezoning Bylaw for Esquimalt Town Square adopted.
October 16, 2017 Township enters into Phased Development Agreement with Aragon Esquimalt TC Properties Ltd. Inc. No. BC1068481.
May 22, 2018 Development Permit for Esquimalt Town Square issued.
Purpose:
As part of the rezoning process for the Esquimalt Town Centre lands, Aragon entered into a Phased Development Agreement (PDA) with the Township. This Agreement requires that Aragon enter into a Housing Agreement for their rental property prior to obtaining occupancy for the rental building.
The rental building, called the Spruce, is located at 505 Park Place (the corner of Park Place and Esquimalt Road). The main floor will be commercial in nature while floors 2 to 6 will contain 34 rental dwelling units comprised of the following:
* 4 studio Dwelling Units;
* 8 one-bedroom Dwelling Units;
* 21 two-bedroom Dwelling Units; and
* 1 three-bedroom unit.
The Housing Agreement has a term of 20 years, during which time the units must be used for rental.
The Housing Agreement contains the following restrictio...
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