September has proven to be a busy month for lease-related, virtual meetings with City of Vancouver staff.
On September 10, the Authorized Working Group (AWG) of Co-ops in False Creek South and Thom Armstrong, CEO of CHF, met with Sandra Singh; General manager of Arts, Culture, and Community Services; Gracen Chungath; Director, Strategic Operations, Planning; Chris Baas, Senior Manager, Strategic Business Advisory; Brian Kinzie, Manager of Partner Agreements; and George Sarnetsky, Planner.
The co-op representatives were united in outlining how the City’s proposal would create less affordable housing, especially for low-income households and those in core housing need. The AWG expressed its main concerns with the City’s 2020 proposed lease options, including:
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- The data that was used in the framework wasn’t based on real anonymous data for people currently living in False Creek South co-ops.
- The median income of $80,000 used in the framework does not align with the fact that 51% of households in False Creek South co-ops earn under $60,000 per year, which is more in line with the median income of renters in Vancouver ($50,000/year).
- The frameworks do not account for significant costs, including major repairs, capital reserves, and debt servicing.
- The need for the framework to be reviewed by an independent financial institution to ensure its viability for current and future residents in securing necessary funding.
On September 17, the Strata Leaseholder Society (SLS) met with Karen Levitt, Deputy City Manager; Nick Kassam, General Manager of Real Estate; and Ben Pollard, Acting Associate Director, Business Planning and Project Support. SLS representatives presented the key elements of the Simple Plan. City staff indicated they are working with Council on a lease extension package and confirmed their commitment to have the package ready in Q4 of this year.
On September 24, False Creek South co-op Board Chairs and approximately 10 other co-op Chairs with buildings on City-owned land, met with Mayor Stewart at his request. The co-op representatives felt that the Mayor heard the need for, and was open to, wider options being considered and included into the framework. The Mayor indicated that he plans to have increased involvement in the lease issue, and that he intends for the lease issues to be resolved during his term in office. The Mayor expressed his heartfelt appreciation at hearing the importance of co-op life in creating strong and healthy communities.