I am very concerned about…

I am very concerned about Bill 23’s impact on Inclusionary Zoning, the bylaw(s) that stipulate any new developments must allocate a percentage of units as affordable for a certain period of time. Capping IZ allocations at a maximum of 5% of units, and capping the affordability period at 25 years, will have a disastrous effect on the supply of affordable housing. Studies in Canada and the US have shown that set-aside rates as high as 20-30% and longer durations are financially viable. It is very damaging to weaken IZ bylaws given the severe shortage of affordable rental housing in Ontario.