New plan ramps up housing fund in city
Burnaby Now
January 2, 2008
By: Brooke Larsen
The City of Burnaby has a new plan to pay for some much-needed affordable housing.
This month, city councillors will consider sweeping changes to the city's density bonus policy that would see bonuses from across the city pooled into a single fund for affordable housing….
Besides housing and amenities built by developers, Burnaby has received commitments of $8.8 million in cash-in-lieu contributions, including $1.7 million for affordable housing, a staff report says.
Density bonuses have also been used to to build parks and child-care centres and expand community centres.
In the Brentwood area two child-care centres - one now under construction - have been created through density bonuses….
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