REPORT TO THE BOARD OF GOVERNORS

Transcription

1 REPORT TO THE BOARD OF GOVERNORS SUBJECT HOUSING ACTION PLAN (HAP) PROGRAM UPDATES MEETING DATE SEPTEMBER 13, 2018 APPROVED FOR SUBMISSION Frwarded n the Recmmendatin f the President Santa J. On, President and Vice-Chancellr FOR INFORMATION Reprt Date August 24, 2018 Presented By Andrew Szeri, Prvst and Vice-President Academic Janet Teasdale (Acting) Vice-President Students Barbara Meens Thistle, Vice-President Human Resurces Andrew Parr, Managing Directr Student Husing & Hspitality Services Eric Eich, Vice-Prvst and Assciate Vice-President Academic Affairs Lisa Clby, Managing Directr, Husing & Relcatin Services Linda McKnight, Managing Directr, Human Resurces, Strategic Staff Relatins Michael White, Assciate Vice-President Campus + Cmmunity Planning Aubrey Kelly, President and CEO, UBC Prperties Trust If this item was previusly presented t the Bard, please prvide a brief descriptin f any majr changes since that time. First adpted in 2012, the UBC Husing Actin Plan s strategic supprt plicies were recently reaffirmed with minr adjustments fllwing a cmprehensive five-year review apprved by the Bard f Gvernrs in February and April Plicy 1 and 5 prvide supprt fr faculty and staff husing initiatives. Mre specifically, this reprt prvides an update fr tw prgrams that are linked t Plicy 1 (PIRL Prgram) and 5 (Rent Geared t Incme Prgram) fr EXECUTIVE SUMMARY UBC s Husing Actin Plan (HAP) is intended t be a faculty, staff and student recruiting and retentin tl. It is a 30-year umbrella prgramming strategy, stewarded thrugh Human Resurces and the Prvst Office, that sets ut the University s lng-range strategic special husing supprt prgram aims (including supply expansin targets fr different frms f tenure) t facilitate imprved husing chice and affrdability fr faculty, staff, and students fr recruitment and retentin purpses. The nging relevance f the HAP plicies and UBC s nging cmmitment t prgressively implement them has been reaffirmed this past year, fllwing the recent five-year HAP review. Achievement and maintenance f all HAP plicies is a cumulative and multi-year undertaking with delivery supprt required frm multiple peratinal departments as well as UBC Prperties Trust. Template revised: June 2018

2 Title/Subject f Reprt The fllwing is an update n tw initiatives that address HAP plicy cmmitments the Prescribed Interest Rate Lan (PIRL) prgram and the Rent Geared t Incme prgram (RGI). - HAP Plicy 1 was develped t supprt UBC s recruitment and retentin pririties with a fcus n faculty hme wnership. One f the ptins identified t supprt faculty hme wnership was the Prescribed Interest Rate Lan (PIRL). This lan prgram was apprved by the Bard f Gvernrs in December 2016 and peratinalized in early 2017 and it has had a significant respnse. Between July 2017 and March 2018, 42 applicatins were received and 31 f these were apprved. This fiscal year a further 19 applicatins have been received and 11 have been apprved t date. - Plicy 5 f the HAP fcuses n the challenges f lwer incme emplyee grups and their access t husing n campus. The UBC Rent Geared-t-Incme pilt prject was initiated in spring f The bjective is t huse 100 staff and 10 faculty ver tw years with a target t fill 55 spaces in the first year. There is a fairly rigrus applicatin prcess that requires initial apprval by UBC befre further asset verificatin checking by a third party. Eligible applicants must have a cmbined husehld incme f less than $68K fr staff (2018 British Clumbia Husing Incme Limits effective June 1, 2018) and less than $99.5K fr faculty. T date, f the apprximately 110 eligible applicatins we received, 11 applicants have been apprved and are in rental units, and 12 apprved applicants are waiting fr an available rental unit. In additin t the PIRL and RGI prgrams, administratin has researched an equity sharing wnership mdel that wuld prvide the flexibility fr faculty members t purchase ff-campus r resale units n campus. At a high level, the mdel assumes the university wuld c-invest with the faculty member in a unit at fair market value and share in the appreciatin/depreciatin f the unit ver time. Faculty members wuld als incur a taxable benefit based n the market cst t rent the percentage f the hme wned by the University. Initial cmments suggest that this prpsed equity sharing mdel did nt ffer significant benefits ver the PIRL lans in its suggested frmat. Hwever, with the recent increase in the prescribed interest rate (frm 1% t 2%), and the intrductin f new stress tests fr assessing brrwing capacity, the relative attractiveness f an equity sharing arrangement may have smewhat imprved. Research will cntinue n bth equity sharing wnership mdels and n eliminating the hurdles fr restricted wnership mdels n campus, which include taxable benefits and the Real Estate Marketing Develpment Act (REDMA) (i.e. the University will likely have t seek an exemptin frm REDMA t be able t prvide any restricted nn-market units n campus). A mre cmprehensive reprt will be brught t December Bard. As scheduled, Administratin will be prviding the Bard f Gvernrs with a detailed annual reprt f the Husing Actin Plan activities in December Attachments A. HAP Plicies INSTITUTIONAL STRATEGIC PRIORITIES SUPPORTED Learning Research Innvatin Engagement (Internal / External) r Operatinal Internatinal Page 2

3 Title/Subject f Reprt DESCRIPTION & RATIONALE 1.0 Discussin Plicy 1 f the HAP encurages the develpment f wnership supprt prgrams fr the recruitment and retentin f faculty. This plicy is partly peratinal and research cntinues n further ptins. 1.1 PIRL Lan Prgram Overview and Update Sme updated financial supprt prgrams were intrduced in 2017/18 t assist faculty in the purchase f market-priced hmes in the challenging Metr Vancuver real estate market. a) The Prescribed Interest Rate Lan (PIRL) prgram and supprting annual lan fund f $10M (apprved in late 2016) was frmally launched in the spring f The PIRL prgram prvides apprved faculty with lw interest (CRA rate) lans whereby n principle is repayable until the lan cmes due in 15 years r resale, whichever cmes first. - Applicatins t this finite fund are reviewed and apprved by the Prvst Office based n strategic recruitment and retentin pririties. - The prgram has prven very ppular and in its first year, 42 applicatins were received and 31 apprved. Once apprved, faculty members have 10 years within which t execute r initiate the lans. During the first year f the prgram, 18 f these lans have been executed. A further 17 applicatins (seven fr new recruits) have been received in the new fiscal year since April 2018 and 11 apprved t date. - Reference t the PIRL prgram was added t Plicy 1 as part f the recent HAP updates. 1.2 Pilt Staff Rent-Geared-t-Incme Prgram Plicy 5 f the HAP calls fr a pilt prgram t cap rent at 30% f husehld incme fr up t 110 lwer incme emplyees (t be phased in ver tw years). This plicy is implemented as an initiative t facilitate the achievement f 20% Faculty-Staff discunted rental in HAP Plicy 4. These units will be distributed thrughut ther rental buildings t avid stigmatizatin that culd ccur shuld successful applicants be hused in ne area. The prgram is nt attached t units but is instead attached t apprved individuals, wh are then assigned a unit in the Faculty-Staff rental inventry that meets their needs. Cntinued supprt fr a Rent-Geared-t-Incme prgram was apprved and expanded in the 5-year review adding 10 faculty spaces t the already apprved 100 unit staff prgram. The prgram was launched in Spring f Applicatin activity is summarized n the fllwing page. The bjective fr the first year f the pilt is t fill 50 spaces with staff and five spaces with faculty. The gal is t fill a further 50 spaces fr staff and five spaces fr faculty in Page 3

4 Title/Subject f Reprt Staff Rent-Geared-t-Incme (RGI) Summary Ttal number f applicatins received 151 Number f eligible applicatins based n initial review criteria ne year f service-and 100% full-time equivalent (FTE) Number f applicants wh withdrew frm prgram (change in 27 circumstances) Number f eligible applicatins after asset verificatin prcess 28 thers still in prcess Number f applicants fully apprved and hused (t Octber 11 1, 2018) Number f applicants fully apprved and waiting fr available 12 unit Number f applicants fully apprved wh declined a unit 5 Based n the attritin rate, all remaining 56 applicants wh meet the initial eligibility criteria have been invited t prceed with the incme and asset verificatin prcess t determine eligibility. It is clear frm applicant feedback that while thrugh, the prcess is cmplicated due t the requirements fr incme asset and verificatin, and right-sizing f units. The requirement f cmbined husehld incme was difficult fr sme applicants t understand, particularly thse in partnerships. Feedback als indicates that even fr sme, this prgram may be ut f reach financially. The prspect f the upfrnt financial cmmitments f rent, depsit, parking fees, pet depsit, etc., all f which are standard practice, was met with disappintment by sme ptential applicants. Further educatin in the frm f presentatins t targeted UBC staff emplyee grups fllwed by a Q and A is planned fr the fall, alng with cntinued and additinal effrts t prvide as much clarity as pssible fr ptential prgram applicants n all cmmunicatin materials including mre precise messaging fr whm this prgram is targeted. 1.3 Faculty Temprary Husing Supprt Prgram (10 spaces) Update As mentined abve, the Rent Geared t Incme Prgram was expanded t include a faculty cmpnent. The target is t huse 5 applicants in 2018 and 5 units in 2019 wh are tenure-track, are cming frm utside the Regin, and have yung children. T date, n applicatins have been received. Outreach t deans and faculty is currently being develped t get feedback n why there has been n uptake fr this prgram. A full review f the Rent Geared t Incme Prgram will take place in early 2019, upn cmpletin f the Pilt. Page 4

5 Title/Subject f Reprt BENEFITS Learning, Research, Financial, Sustainability & Reputatinal RISKS Financial, Operatinal & Reputatinal COSTS FINANCIAL Funding Surces, Impact n Liquidity While the University cannt realistically prvide enugh funding t slve all f the challenges f the cmpetitive rental market in Metr Vancuver, the HAP PIRL Prgram and Rent Geared t Incme Prgram help t address sme recruitment and retentin challenges, and prvide faculty and staff with a level f financial supprt t wrk and live n campus. There is significant strategic risk if the University fails t recruit and retain utstanding faculty and staff and is nt able t create an utstanding wrk envirnment t ensure engagement and prductivity. There is als nging reputatinal risk if the University des nt implement its cmmitments t husing supprt as prmised in the Husing Actin Plan. The csts t administer UBC s Husing Actin Plan are currently supprted by the annual perating budget. The financial implicatins f the HAP plicy targets were cnsidered and apprved in earlier Bard deliberatins as part f the plan develpment. N new financial implicatins are intrduced with this reprt. Sme plicies (e.g. 20% faculty staff rental) will lead t a reduced r deferred financial return t the Endwment frm land develpment prceeds cmpared with what thse lands wuld have therwise generated had they been develped fr mre prfitable lng-term leasehld sale r market-priced rental prjects. These pprtunity cst estimates will fluctuate with the market. Sme HAP plicies have n financial impact (e.g. Advance Purchase access t new market lease prjects n campus). Others intrduce liquidity impacts where the University is required t prvide frnt end financial supprt t implement the prgrams (e.g. the repayable faculty husing lan prgrams supprted thrugh the $10M Faculty Husing Financial Endwment). Implementatin f sme prgrams require financial utlay by the University (e.g. the Rent-Geared-T-Incme pilt prgram, r the frgivable Faculty Dwn Payment Assistance prgram). Detailed cst analysis f each f these prgrams have been cnsidered and apprved by the Bard as each has been brught n-stream at the implementatin stage. SCHEDULE The next annual reprt will be the fall f UBCPT COMMENTS Cmplete fr all reprts that include a prperty cmpnent Review Date August 22, 2018 Signed ff by Paul Yung, Directr, Planning & Design n behalf f Aubrey Kelly, President & CEO Our understanding f the PIRL Prgram and Rent-Geared-t-Incme Prgram is cnsistent with the infrmatin presented in this reprt. UBCPT supprts further implementatin f these prgrams. The prgress n analysis f shared-equity mdels is als supprted. Page 5

6 Title/Subject f Reprt Previus Reprt Date April 19, 2018 Apprval f amendments t Husing Actin Plan (HAP) Plicies as described in Attachment A, and authrizes assciated explanatry updates in the HAP, in respnse t engagement with students (the AMS, GSS and RHA) and directin frm the February 2018 Bard f Gvernrs meeting. Update n PIRL Prgram and Rent-Geared-t-Incme Prgram Previus Reprt Date February 15, Apprval f the updated and cnslidated Husing Actin Plan cre plicy text amendments (revised Attachment A, nt including Plicies 9, 11, and 12) reflecting adjustments supprted during the curse f the HAP Five- Year Review; and, - Directin t the Administratin t further explre Plicies 9, 11, and 12 and reprt back in April 2018, including implicatins and pprtunities fr intrducing University Rental plicy cmmitments in the HAP as described in the AMS submissin January 30, Actin/ Fllw-up Further Explre Plicies 9, 11 and 12 and reprt back in April 2018, including implicatins and pprtunities fr intrducing University Rental plicy cmmitments. Previus Reprt Date December 5, 2017 HAP Phase II Review (Staff and Students) Received HAP Final Husekeeping Update t be submitted Previus Reprt Date June 6, 2017 Apprval f Rent-Geared-t-Incme fr Staff and Faculty Phase II Review (Staff and Students) t be submitted Fall f Previus Reprt Date February 14, 2017 Infrmatin update n 10 year Faculty Husing Strategy (Phase I f 5 Year Review) and next steps was received by the Bard T reprt back with implementatin plan f Faculty Temprary Rental Husing Supprt Prgram tgether with the Staff prgram including Rent-Geared t- Incme. Page 6

7 Title/Subject f Reprt Previus Reprt Date Nvember 20, year Faculty Husing Strategy (Phase I f Five-Year Review) was apprved by the Bard. T prvide infrmatin and seek apprval. 1. Faculty Husing Assistance Financing Endwment (FHAFE) Terms f Reference will be prvided fr apprval 2. The final Eligibility and Allcatin Prcedure Guidelines fr Restricted Faculty Husing Prgram will be prvided The final wrding fr Plicy 1 f the Husing Actin Plan t accmmdate new prpsed PIRL wnership supprt prgram will be prvided fr apprval. Previus Reprt Date February 2016 Fr infrmatin and discussin: T receive the cnsultatin results n the June 2015 prpsed revisins t the Faculty Hme Ownership Prgram fr the Vancuver Campus. Infrmatin fllw up t Finance Cmmittee Previus Reprt Date December 3, 2015 The 2014/15 prgress update n the Husing Actin Plan (HAP) was received n the cnsent agenda. The 2014/15 prgress update was prvided as infrmatin nly. Previus Reprt Date June 9, 2015 Adptin f President s Wrking Grup recmmendatins t: 1. Clse the Restricted Capped Appreciatin prgram ptin and make any cnsequential amendments t HAP dcuments; 2. Cnfirm cntinuatin f 2 nd Mrtgage Lan ptin fr duratin f three-year pilt; 3. Direct the Administratin t develp and cnsult n creatin f a new 10- year, tiered, merit-based Prescribed Interest Rate Lan prgram ptin (PIRL) within the FHOP funding cap and based n principles: Recruitment and retentin f wrld class faculty; Incentivize faculty t live n campus; Tax efficiency and effective use f capital; Imprve faculty ability t chse lcatin and type f prperty; Supprt acquisitin f hme wnership withut creating a lng-term entitlement. Page 7

8 Title/Subject f Reprt 4. Direct the Administratin t cnsider and cnsult n phase-ut and replacement f the Dwn Payment Assistance and Mrtgage Interest Assistance lans; 5. Direct the Administratin t reprt back t the Bard n input frm the cnsultatin frm the new PIRL cncept, and phase ut f the DPA/MIA. T reprt back n input frm cnsultatin with faculty n new PIRL prgram ptins and replacement f existing Dwn Payment Assistance and Mrtgage Interest Assistance lan prgrams. Previus Reprt Date September 30, 2014 The 2014 prgress update n the Husing Actin Plan (HAP) was presented. Administratin was asked t reprt back after the secnd Faculty Hmewnership prgram (FHOP) cycle had been cmpleted. The 2014 prgress update was prvided as infrmatin. Previus Reprt Date September 2013 Directed Administratin t explre 2nd Mrtgage Lan Prgram as alternative faculty hme wnership prgram mdel, with better taxable benefit implicatins t participants than Capped Appreciatin mdel. Directed Administratin t cnsult with faculty n bth prgram types, and the draft Eligibility, Allcatin, and Occupancy Plicies develped by the Faculty Husing Actin Plan Plicy Develpment Cmmittee. Reprt back t the Bard n results f cnsultatin Previus Reprt Date September 20, 2012 Adptin f the UBC Husing Actin Plan (19 plicies) fr Vancuver campus, and its implementatin steps. Reprt back t Bard n Implementatin prgress. Previus Reprt Date June 12, 2012 Fr infrmatin. Summary results n mst recent cnsultatin. Key plicy directins prvided fr discussin and feedback. Page 8

9 Title/Subject f Reprt Previus Reprt Date April 2, 2012 Fr infrmatin. Interim cnsultatin reprt. Summary f cnsultatin input activities between April 2011 and January 2012 and cnveyed key themes t date. Previus Reprt Date February 2, 2012 Fr infrmatin. Chair f Cmmunity Planning Task Grup prvided highlights f recent cnsultatin input, including vide clips f speakers at the January 2012 frum. The reprt updated Bard n ther technical and cnsultatin results t date, including the shrt list f ptins under cnsideratin and the utline f the discussin paper that will be the fcus f the cmmunity cnsultatin in late March Previus Reprt Date December 1, 2011 Fr infrmatin. Chair f Cmmunity Planning Task Grup prvided update n the prcess including decisin t extend cmmunity engagement phase. Previus Reprt Date Sept 27, 2011 Fr infrmatin. Update n Prcess Summary f tur f peer universities, preliminary ptins under cnsideratin and updated cmmunicatins and engagement plan. Previus Reprt Date June 8, 2011 Reslutin: that the Bard endrses as circulated, the Guiding Principles fr the UBC Vancuver Husing Actin Plan. Page 9

10 Title/Subject f Reprt Previus Reprt Date Sept 27, 2011 Fr infrmatin. Update n Prcess Summary f tur f peer universities, preliminary ptins under cnsideratin and updated cmmunicatins and engagement plan. Previus Reprt Date April 5, 2011 Fr infrmatin. Endrsement f wrk prgram utline and Guiding Principles. Previus Reprt Date Jan 13, 2011 UBC Land Use Plan Amendments: Next steps. Reslutins (excerpts) 3. Apprved the UBC Land Use Plan Amendments and frwarded them fr Ministerial adptin 5.b) That the Bard, subject t adptin f the Land Use Plan: Amendments by the Minister f Cmmunity sprt and Cultural Develpment, hereby directs staff t: Develp a Husing Actin Plan t address husing chice and affrdability fr student, faculty and staff husing n campus, with an utline f the plan t be apprved by the Bard f Gvernrs. Page 10

11 ATTACHMENT A HOUSING ACTION PLAN POLICY EXCERPT LIST These cnslidated and updated plicies cmprise the latest frmal Bard apprved cmmitments f the Husing Actin Plan t April 19, They are extracted int ne summary list here fr quick reference. Hwever, please see the full Husing Actin Plan bklet fr explanatry backgrund discussin n these plicies. Plicy 1 T supprt the university s faculty recruitment and retentin pririties, UBC will intrduce a new restricted hme wnership ptin fr up t 10% f all new husing units built n campus subject t sufficient demand. These units will be phased in ver time with an interim target f up t 5% as we test the interest f faculty wners. Eligibility fr this ptin will be restricted t tenured and tenure-track faculty. Re-sale values f these hmes will be indexed t faculty salaries t a maximum resale price n higher than 33% belw a benchmark value. Other ptins t be cunted as cntributins tward this restricted faculty hme wnership target: Plicy 2 Active (utstanding) UBC Prescribed Interest Rate Lans (PIRL) advanced in supprt f purchase f a hme n r ff-campus anywhere within Metr Vancuver. Other Bard-apprved wnership supprt mdels fr a hme purchase n r ff campus, as may be intrduced frm time t time. T imprve the ability f faculty and select staff t access the University s Dwn Payment Assistance prgram t assist with the purchase f a principal residence within Metr Vancuver, the eligibility perid fr the Prgram will be extended t 10 years. Plicy 3 T supprt the University s bjective f ensuring that a significant prprtin f future husing n campus will be accessible t thse wh wrk r study n campus, the University will build up t 30% f all new husing n campus as rental, subject t market demand. In additin t 20% frm Plicy 4 belw, this allws a further 10% f ther frms f rental that may include market priced rental fr general public r University Rental (market-priced rental with pririty access fr thse wh wrk r study n campus), r ther rental pprtunities. UBC will explre the breakdwn amunt f each f these ther types f nn-faculty staff discunted frms f rental thrugh Neighburhd Planning prcesses. Plicy 4 T help address husing affrdability challenges f UBC s wrkfrce, up t 20% f future husing n campus will be built as restricted rental available nly t faculty and staff. Rents will reflect csts and expenses and are anticipated t be apprximately 25% belw average rental rates charged fr unrestricted husing n Vancuver s west side. Plicy 5 T help address the challenges f lwer incme emplyee grups in accessing husing n campus, UBC will develp a pilt prject f up t 100 Rent-Geared-T-Incme units with pririty t staff with annual husehld incmes f less than BC Husing Guidelines fr similar prgrams, as amended frm time t time. This pilt prject will be develped in cllabratin with UBC Prperties Trust and brught back t the Bard f Gvernrs fr apprval. UBC will als develp a supplementary versin f the prgram fr Faculty as a pilt prject, subject t husehld incme threshlds and parameters apprved by the Bard f Gvernrs. Revised April 19, 2018

12 Plicy 6 T prvide campus husing that reflects the demgraphics f the University s wrkfrce, UBC and UBCPT will encurage a wide range f unit sizes, t include smaller starter units, units suitable fr single r 2 persn husehlds, and larger units fr families. Plicy 7 T imprve pprtunities fr UBC faculty and staff t purchase market leasehld units n campus, the University will wrk with UBC Prperties Trust t prvide preferential, early access fr faculty and staff t purchase new units befre they are released fr sale t the general public. This is a nn-financial benefit. Plicy 8 Tax assciated with taxable benefits, if any, will be brne by the emplyee. Plicy 9 T supprt the University s cntinuing transitin frm a cmmuter campus t a mre cmplete university cmmunity, UBC will aspire t prvide up t the build-ut capacity fr SHHS perated husing n the Academic lands as defined by UBC Vancuver Campus and Land Use plans, subject t debt capacity, financial capacity within the university, student demand and necessary cmbinatin f prject characteristics such as unit mix. Plicy 10 T better respnd t the increasingly diverse husing needs and demands f students including undergraduate, graduate and students with families, UBC will cntinue with the Student Husing and Hspitality Services (SHHS) business plan t expand the range f unit types and sizes (studi units, 4-6 bedrm style units, and furnished and unfurnished 1, 2 and 3-bedrm units). Plicy 11 T help address husing affrdability cncerns fr students, the University will cntinue t limit rental rates based n the fllwing pricing principles and practices: cvering all csts f peratin including brrwing csts, self-supprting, fully cst-recvery basis, at r belw market rental rates; relative t the lcal marketplace per CMHC data and peer university acrss Canada, Mre price variance will be explred between lder and newer inventry by implementing variable rate increases ver time under existing pricing principles, Maximum annual rent increase f any specific unit type will nt exceed annual Cnsumer Price Index (CPI) plus 2%. Plicy 12 T help address the gap between the shelter allwance prtins f BC s student lan prgram and current rental rates at UBC, the University will cntinue n behalf f students t advcate fr greater husing allwance in Prvincial financial aid prgrams fr lwer incme students n student lans. Plicy 13 REMOVED Plicy 14 REMOVED Page 2

13 Plicy 15 REMOVED Plicy 16 T ensure that The University Cmmunity n Campus - UBC s Husing Actin Plan respnds t UBC s pririties and husing needs, the plan is structured t be dynamic and remain flexible. Plicy 17 T maintain awareness f campus husing issues and prgress being made t imprve husing chice and affrdability fr faculty, staff and students, an annual mnitring reprt will be prvided fr cnsideratin t the Bard f Gvernrs. Plicy 18 The University Cmmunity n Campus - UBC s Husing Actin Plan plicies are separate frm the UBC Land Use Plan and d nt have any regulatry effect. A cmprehensive review f The University Cmmunity n Campus - UBC s Husing Actin Plan will be undertaken every five years fr review by the Bard f Gvernrs. Plicy 19 In the event f insufficient market demand, additinal units allcated t restricted hme wnership r restricted rental prgram ptins under this plan may be delivered as 99-year lease units. It is anticipated that this culd ccur thrugh the 5 year review. END Page 3

14 Campus + Cmmunity Planning MEMORANDUM T: Cmmunity Planning Task Grup Frm: Campus and Cmmunity Planning Date: September 6, 2011 Re: Husing Actin Plan Principles and Objectives At its meeting f June 8, 2011, the Bard f Gvernrs adpted principles t guide develpment f the Husing Actin Plan and infrm the evaluatin f prpsed husing ptins. Using these principles, staff have develped the fllwing evaluatin framewrk which includes specific bjectives linked t each principle. Principle 1 - Align future campus husing plans with the academic missin f UBC. The ptin helps with the recruitment/retentin f faculty and staff. The initiative enhances and fsters faculty and staff engagement in the campus cmmunity utside f the classrm. The ptin supprts UBC s Living Lab philsphy. Principle 2 - Develp a cmprehensive framewrk fr affrdable and desirable husing chices fr faculty, staff, and students, including target ratis fr rental and lease husing while balancing returns t the Student Husing Financing Endwment and the Trek Endwment. The ptin supprts wise use f the University s land assets t supprt UBCs ecnmic sustainability ensuring a fair, balanced return t UBC s endwment. The financial investment tward faculty staff and students is sufficiently enduring in that it helps mre than ne generatin. The investment is flexible in that it allws a healthy turnver fr new arriving faculty, staff and students. Principle 3 - Create the basis fr a sustainable year-rund university cmmunity t supprt shps, services and transit. The ptin supprts UBC s cmmunity develpment gals f creating an inclusive, diverse, cmplete and integrated cmmunity at UBC Vancuver. The ptin increases pprtunities fr a year rund ppulatin at UBC. The ptin cntributes t a husing tenure mix within buildings and within neighburhds.

15 Principle 4 - Ensure that the Land Use Plan ccupancy targets fr husehlds cnnected t the UBC campus, thrugh study r wrk, are apprpriate and achieved. The ptins help achieve Land Use Plan ccupancy and tenure targets: Minimum f 50% f new husing is serving husehlds where ne r mre members wrk r attend UBC; 20% f new husing is rental; and 50% f new rental husing is nn market. Safe, attractive husing ptins are prvided fr peple f all incme levels assuming husing csts f nt mre than 30% f a single incme. Principle 5 - Cnsider the gvernance implicatins f husing plicy, as well as issues related t interfaces between the varius land use designatins n campus. The ptin ensures that faculty and staff are well represented in UTwn@UBC. The ptin cntributes t a balance f UTwn@UBC residents wh are affiliated and nn-affiliated with UBC. Principle 6 - Ensure a rbust cmmunicatins strategy is implemented t engage the campus cmmunity and varius stakehlders in the develpment f the Husing Actin Plan Cmmunicatins and cnsultatin plan will have multiple pprtunities fr engagement, bth nline and in-persn. Prmtin f engagement pprtunities will take place thrugh a number f different media, including electrnic (i.e. , website, e-signage, etc.) and print (i.e. psters, advertising, etc.). 2