Agriculture and Rural Affairs Committee

That the Rules of Procedure be Suspended to consider this motion such that it may rise to Council in a timely manner. WHEREAS the objective of the Vacant Unit Tax (VUT) is to encourage property owners to maintain, occupy or rent their properties, thereby increasing the housing; and, WHEREAS the net revenue from this tax is used to support affordable housing initiatives in line with the City’s Housing Long Range Financial Plan; and, WHEREAS the goals of the VUT are in direct support of City Council’s strategic priority: a city that has affordable housing and is more livable for all; and, WHEREAS staff have determined that the annual mandatory declaration is the most effective approach in capturing the maximum number of vacant units to apply the Vacant Unit Tax (VUT) to encourage property owners to return vacant units to the market; and, WHEREAS the VUT has prompted residents to update outdated property assessment information with the Municipal Property Assessment Corporation (MPAC) leading to fairer taxation; and, WHEREAS staff will be reporting back on the VUT program in the Fall of 2024 with updates to the program. THEREFORE BE IT RESOLVED that Agriculture and Rural Affairs Committee recommend Council approve that staff report back with options to exempt, or exclude, century homes that have been abandoned for decades or hunt camps that are recreational in the rural area from the VUT declaration process; and BE IT FURTHER RESOLVED that staff develop and report back in the Fal