Strata Leaseholder Update

On behalf of *RePlan’s Strata Leaseholder Subcommittee (SLS), I’m pleased to inform False Creek South leaseholders that we have submitted our Council Report to the Vancouver Mayor and Council,” says Richard Marchant, SLS Chair. “The report describes our ideas for lease modification and extension following our consultation with City staff in the summer and fall of 2017.

As many of you know, we presented these ideas at three community sessions held on February 8^th and 10^th. Later that month, we shared a web link to a recorded version of the presentation, so attendees could review the material at their own pace and leaseholders unable to attend could watch the presentation. (You can see the presentation here.)

We integrated feedback received during the community sessions and from SLS delegates into what we believe is a solid report that makes an urgent case for advancing strata leasehold negotiations. Our objectives for resolving the end of lease issues are:

• An agreement that protects the integrity, continuity and longevity of the community, while also increasing the stock of affordable housing to make room for more families to live here

• Certainty of tenure for all owners beyond the current lease expiry dates

• Support for the continued saleability and sustainability of strata units including:

  • Protection of affordability and equity for owners

  • Ability for buyers to secure mortgages with at least a 25-year amortization period

• Incentives to improve and maintain buildings through lease conditions that strengthen the ability to finance major improvements and maintenance of buildings

• Options that are acceptable to as many leaseholders as possible

• Keeping pace with Vancouver demographics, especially by incorporating more young families in the community

 Click below to read the report. If you have any questions, please email us at *email is hidden, JavaScript is required*.