The proposed changes to…

The proposed changes to Ontario Regulation 232/18 will limit the ability of municipalities to deliver affordable units within the PMTSAs. It will also limit the depth of affordability of units and due to the proposed maximum affordability period could result in the premature loss of affordable inclusionary zoning units from the PMTSA’s.

Setting the minimum price/rent of inclusionary zoning units to 80% of purchase price/AMR instead of relying on the technical work of municipalities as set out in O.Reg 232/18 may result in the reduced affordability of inclusionary zoning units. This change to the Regulation relies solely on market conditions and not household income. Due to the high cost of rental and ownership housing in Ontario, this may further exclude low and middle-income residents from ownership and rental markets within the PMTSAs. Relying on the Municipal Assessment Reports of Municipalities as set out in O.Reg 232/18 to determine the minimum price/rent that is feasible will ensure that the greatest number of affordable units will be generated at the deepest possible level of affordability; providing a tool for municipalities to provide more affordable units faster within PMTSAs.

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