Banff taxpayers will see a new line on their property taxes this year to fund affordable housing for the community.
But what exactly the levy is going to be used for and why will be the subject of a communications strategy after council voted last week to direct administration to develop an explanation for the levy.
Councillor Grant Canning made the motion during a finance committee meeting on Dec. 10, noting residents will have questions about the change to their tax bills when they are issued later in 2015.
“This is going to be a new item that goes onto tax forms, so when that happens I really do think a lot of our residents will have questions,” he said. “I think this levy is really important moving forward and quite frankly I want us to be proactive about it and quite frankly I want to get it right from the start.”
The change in collecting funds for affordable housing, and specifically 36 rental units on the 300 block of Banff Avenue, was introduced at a meeting in November. Council at that time gave tentative approval for a $9.3 million apartment development with a willingness to set the levy to fund a housing sustainability coordinator at $48,300 next year. The levy is proposed to change each year to meet the needs.
Key to the decision was an economic prosperity report completed earlier this year that identified housing as a critical need, the 2012 housing needs study and the 2014 community housing strategy.
Chief Administrative Officer Robert Earl said developing housing will be decided on a property by property basis.
The Town of Banff owns two lots on the 300 block of Banff Avenue, which could see as many as 36 units built, and is also in ongoing talks about a potential housing development on Cave Avenue, which could yield between 45 and 60 units.
“Council will determine on each property how you move forward, whether they are pure market or subsidized in some way,” Earl said.
Mayor Karen Sorensen stressed what is important with the levy is that housing gets built in Banff over the next three years to address an identified critical need in the community.
“I think simply this is new for Banff,” she said. “I think it is a good decision and a lot of other municipalities do this and it is about education and there are different concerns.
“All we want is some building to occur, that is the end goal and I am confident over the next three years it will.”
