Pete Fry

For Vancouver

Tag: VANCOUVER

  • On transparency and the Kettle Boffo deal.

    On transparency and the Kettle Boffo deal.

    Some years ago I met w/ Daniel Boffo, over n’hood resistance to height/density and perception that inclusion of city land in project called to question net public benefits, notwithstanding Kettle contributions.

    I suggested that the best solution might be to open the books, show people the pro formas ie. the numbers that make the project work vis a vis public land and public benefits involved.

    He was incredulous (paraphrase) “Why would I let people see my profits?”

    And therein lies problem.
    Transparency must factor in negotiated public benefits. Community Amenity Contributions (CACs) are negotiated in secret between developers and city staff (though some allege political/campaign finance influence too).
    We need to reform CAC process.

    Meanwhile:
    Boffo/Kettle claims CAC ask is too high. City claims there’s a $12m grant on the table yet a rezoning application hasn’t even been filed. In absence of transparency one can only guess real story:
    CACs? Spec-tax softened condo market? Sunk costs? Political change?

    Postscript: Originally published on Twitter

  • Empty data from Mayor’s office on Empty Homes Tax.

    Empty data from Mayor’s office on Empty Homes Tax.

    A recent tweet from the mayor’s office caught my eye

    .@Cityofvancouver data shows 95% of EHT declarations were made from Canada, 2% from US, 3% from other countries (reflects where the property owner was located at the time they made their declaration and does not necessarily reflect their primary residence) #vanpoli— Van Mayor’s Office (@VanMayorsOffice) May 27, 2018

    I’d be interested in seeing complete dataset. If EHT is not tracking primary residence but location at time of declaration, and declarations can be made by a proxy — are we tracking local owners, or local realtors/lawyers?

    Regardless of where EHTaxed speculation capital may or may not be coming from, proxy or otherwise —a hallmark of Vision’s ten-year regime has been these kind of opaque, manufacturing consent PR moves. Show us the data not the spin.

    Despite headlines like Friday’s in the Vancourier (City releases latest data on Empty Homes Tax) I’ve searched and yet to find actual data, just curated media release.

    This coming election is increasingly about electing a new City government that puts public interest first, working together to tackle the serious issues we face as a city — and that can only be predicated by real and honest transparency. Show us the data.

  • Big Loopholes in Vancouver’s Empty Homes Tax

    Big Loopholes in Vancouver’s Empty Homes Tax

    Want to avoid Vancouver’s Empty Home Tax?
    Find the right strata.

    The extended empty home reporting deadline is approaching.
    There’s been plenty of advertising. But did you know EHT specifically exempts condos where strata rules restrict rentals?

    That’s a pretty big loophole.
    http://vancouver.ca/home-property-development/empty-homes-tax-frequently…

    The City’s own report on the EHT surveying empty homeowners found that 22% of them cited strata rental restrictions as the reason for not renting out their non-owner occupied homes. http://council.vancouver.ca/20170628/documents/pspc6.pdf

    Empty strata-restricted condos are not an insignificant per cent of our housing stock. A 2009 City-commissioned study found more than 60% of strata corporations restricted or prohibited rentals. http://vancouver.ca/docs/policy/housing-role-rented-condo-stock.pdf

    In a city with detached home sales slowing and record growth in non-resident owned condos (in 2017 reported over 20% of new condos); even with new provincial measures, will the EHT meet the objective of having homes people live in?

    http://www.cbc.ca/news/canada/british-columbia/vancouver-non-residents-s…

    Postscript: 

    Originally posted on Facebook

    A follow up question asked “What do you think of the fact that stratas are even allowed to restrict rentals?”

    My response: Ultimately that’s a governance decision up to the individual strata. HOWEVER, I’m leaning toward the idea that “corporate personhood” needs to be applied here. If a strata corporation chooses to prohibit/restrict rentals then they should pay the EHT as a strata (as opposed to the individual owner alone).

    Strata are considered corporations under the Strata Act. Thus things like banking and borrowing to finance repairs or leaky condos are tied to that legal designation.

    Further, property rights and quiet enjoyment thereof (even as a strata) are a pretty big nut to crack with loads of resistance and unintended consequences (what with them being the foundation of our capitalist western democracy and all). To my mind, applying a usury fee or taxation seems a lot more reasonable and actionable.

  • NPA votes against tax on property flippers

    NPA votes against tax on property flippers

    Vancouver City Council proposes province tax property flippers… But NPA voted against.

    ICYMI, as the BC Budget was being delivered, the rest of Vancouver City Council passed Adriane Carr’s “Call for Bold Provincial Actions to Tackle Housing Affordability.”

    The motion to address impacts of global capital, speculators & property flipping reflects a long standing intent of both the Vancouver and BC Greens to address some of the more egregious forces effecting housing demand and affordability.
    The original motion is here: http://council.vancouver.ca/20180220/documents/motionb3.pdf

    Specifically the entire NPA council caucus voted against items:
    a.) restrictions on foreign purchases, and
    c.) taxing flippers.
    You can watch the debate and final amendments to the motion online starting around 04:50:00. http://civic.neulion.com/cityofvancouver/index.php?clipid=3495786,000

    Postscript: Posted in response to: https://globalnews.ca/news/4040242/vancouver-city-council-passes-motion-…

  • The Buck Stops with Trudeau

    The Buck Stops with Trudeau

    The buck stops with Trudeau.
    Shipping 900,000 barrels a day of tar thinned with solvent through the Salish Sea is NOT the kind of #RealChange Canadians voted for.

    I’m appalled that our government would backstop the laziest, cheapest and riskiest means of appeasing the fossil fuel industry.
    Sell out.
    Sell out of our coast, of our future.
    Sell out of the hopes and ideals of so many people who actually voted for some hackneyed disingenuous notion of #RealChange.

    Justin Trudeau, you don’t get to front about your BC roots anymore. You have betrayed this province, this Coast, the First Nations. You have betrayed science and evidence based decision making.