Vancouver Releases Co-op Lease Discussion Paper
On January 28, 2020, the City of Vancouver released its long-awaited discussion paper on co-op lease renewals just as many of these leases are about to expire. The paper repeats the City’s commitment “to preserve and grow the number of co-op homes across Vancouver.”
It also sets out four possible approaches to dealing with leases for the City’s 57 co-ops.
Mayor Kennedy Stewart also published an opinion piece apologizing for not listening more closely to key co-op concerns and vowed to protect existing co-op members while expanding the number of co-op homes in the city.
CHF BC Executive Director Thom Armstrong said he was glad to see the paper released with its move away from a previous methodology “that never had a chance of working.”
The new approach recognizes that co-ops started in the 1970s under “market land values” and have now become seriously disconnected from household incomes.
Residents of co-ops, and anyone who might want to live in one in the future, are encouraged to share feedback on the city’s four co-op proposals by taking the survey at vancouver.ca/coops
A staff report to City Council with recommendations is expected this summer.
Thom Armstrong will discuss the proposals in more detail on Each For All at 8pm PST Feb. 4 on Vancouver Co-op Radio 100.5 FM and online at coopradio.org.