NPA council hopeful proposes ‘property philanthropy’ as a way to affordable housing
Posted October 14, 2018 10:30 am.
Last Updated October 14, 2018 11:45 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) — A Vancouver school trustee now seeking a seat on city council is recommending something called ‘property philanthropy’ to help make housing more affordable.
Lisa Dominato, who’s an NPA candidate, wants to set up a voluntary registry of home owners willing to rent out space at below market rates in exchange for a break on property taxes.
“Well, I think it’s actually the perfect time to be having this discussion,” she tells NEWS 1130. “We are in an election campaign and I think it’s the perfect time to be bringing forward ideas and possible solutions for the public to consider.”
The goal of the registry is to create more rental stock for university students, families saving for a mortgage and seniors on fixed incomes. She says a similar program in Melbourne, Australia, has helped low income families secure housing at 20 per cent lower than market rates. Toronto, too, recently set up a similar ‘property philanthropy’ pilot project.
“Support seniors staying in their home longer, but also students who are trying to go to university or young professionals — matching them up,” she adds.
She’s also not apologizing for waiting until days before a civic election to bring this up.
“Given the height of this conversation, every day, everywhere I go, we’re talking about a housing affordability crisis. I think we have to put all options on the table and explore these different ideas– and it’s really based around the idea that we may have people who are willing to rent their places below market,” Dominato says.
The NPA candidate adds the voluntary registry would also create more rental stock for families saving up for a mortgage.
