One of the things I love about this community is its never-ending generosity. Even in difficult economic times this community rises above the challenge to ensure that all residents have the opportunity and support to achieve their physical, social, mental, emotional and spiritual potential.
In 2009, the Canadian Association of Retired Persons named Peterborough the most age-friendly City in the Country. In 2011 the Township of Asphodel-Norwood raised over $200,000 over a five month period to increase park and playground space for local youth.
Last night, City Council took another positive step forward by endorsing a new policy that would allow the city to provide full or partial property tax exemptions for qualifying affordable housing projects for a period of up to 10 years. The existing by-law governing affordable housing construction has been used to support 17 affordable housing projects since its adoption in 2003. This has resulted in the creation of 414 new affordable housing units within the City of Peterborough.
However, the need for affordable housing is still extensive with an average wait time of approximately seven years. The proposed by-law amendments that City Council, sitting as a Committee of the Whole, endorsed last night will address that by providing incentives to private developers and non-profit organizations to construct financially viable housing projects supporting affordable rents.
This also addresses one of the priority action items of the Sustainable Peterborough Plan. A Health Community was one of the key themes that came out of the first round of community engagement sessions that the Sustainable Peterborough Steering Committee hosted last year. The specific priority action item attached to this theme is to increase the availability of affordable housing throughout the Greater Peterborough area.
Once again our community leaders have stepped up to the plate in providing a sustainble future to this community.
Decisions made by the Committee of the Whole (COW) still need to go to Council for final approval. To access the full report presented to the COW click here.
Related articles – New city policy would waive some or all of property tax for new eligible affordable housing projects – Peterborough Examiner – June 12th, 2012
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