Saskatoon looks at incentivizing building of affordable housing

Administration is proposing approximately $35 million be allocated to incentive programs supporting affordable housing, multiple-unit dwellings and development on city-owned land.

Saskatoon’s planning and development committee looked at a report on Wednesday with recommendations on how to incentivize developers to build more affordable housing in the city.

City administration is proposing that approximately $35 million from the housing accelerator fund be allocated to incentive programs that will support affordable housing, multiple-unit dwellings in priority growth areas and housing development on city-owned land.

The total available funding through the program is $41.325 million, granted on a yearly basis from now until 2027.

Administration recommended capital grants be provided per unit for the three types of development and permit fee rebates be available upon issuance of a final building permit. Eligibility criteria would consider whether the applicant is a qualified non-profit or Indigenous organization and target population as well as the level and term of affordability.

Jason Mercredi, director of social infrastructure with Métis Nation Saskatchewan, said it’s important that council’s focus be based around community and Indigenous organizations.

“When we are talking about truth and reconciliation, we can have all of the land acknowledgements that we want but money talks and I think this is going to go a long way to help the Indigenous population in Saskatchewan and in Saskatoon specifically,” he said.

Affordable rental units and city-owned land developments would also be eligible for a five-year incremental tax abatement subject to city council approval.

Administration noted that other cities, including Regina, Edmonton, Calgary, Kelowna, B.C., and Winnipeg, are currently using very similar housing incentives as those recommended on Wednesday.