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REPORT TO:Planning and Strategic Initiatives Committee <br />DATE OF MEETING:June 10, 2019 <br />SUBMITTED BY:Alain Pinard, Director, Planning,519-741-2200 ext. 7319 <br />PREPARED BY:Karen Cooper, Manager, Strategic and Business Planning, <br />519-741-2200 ext. 7817 <br />Brandon Sloan, Manager, Long Range & Policy Planning, <br />519-741-2200 ext. 7648 <br />WARD (S) INVOLVED:All <br />DATE OF REPORT:May 30, 2019 <br />REPORT NO.:DSD-19-134 <br />SUBJECT:Affordable Housing Strategy Work ProgramOverview <br />___________________________________________________________________________ <br />RECOMMENDATION: <br />THAT the workplan for Report DSD-19-134, Affordable Housing Strategy -Work Program <br />Overview,be approved;AND FURTHER <br />THAT the followingmembers of Councilbe appointedto participate on anAffordable <br />Housing Strategy Advisory Committee: _____________________ (maximum 3). <br />BACKGROUND: <br />The median average home price within the Kitchener market area has increased by <br />approximately 50% over the last four yearsand the average apartment rent has increased <br />1 <br />approximately 20%, which is well above inflation. These housing cost increases coincide with <br />a significant amount of new development in Kitchener, largely fuelled by the success of new and <br />expanding businesseswhose employees increase the demand for housing in Kitchener.With <br />largeincreases in housing costs in the Greater Toronto Area and a number of other factors, <br />people are either considering, there <br />are pressures on the housing supplyand sale prices are being drivenup, and new housing of <br />all forms and tenure are becoming unattainablefor many. In some cases,people are feeling <br />displaced or left.The Kitchener housing market has changed. <br />According to a recent City-led Environics Survey, residentsself-identified affordable housing as <br />the second most important issue facing Kitchener today. <br />and community engagement, staff and Council have reaffirmed the importance of taking action, <br />including at the local level. Asa result, the creation of anAffordable Housing Strategy for <br />1 <br /> Canada Mortgage and Housing Corporation (CMHC) 2015-2019 ownership and 2015-2018 private rental housing statistics <br />*** This information is available in accessible formats upon request. *** <br />Please call 519-741-2345 or TTY 1-866-969-9994 for assistance. <br />2 - 1 <br />