It includes the following excerpts:
Creating affordable housing
This tool is typically used to create affordable housing for low-and moderate-income households. In Ontario, this means families and individuals in the lowest 60% of the income distribution for the regional market area, as defined in the Provincial Policy Statement, 2014.
Generally, housing is considered “affordable” when households do not pay more than 30% of gross income on annual accommodation costs, or when the purchase price for housing is at least 10% below average market value or when households do not pay more than 30% of gross annual household income for rent or when the rent is at or below the average market rent.
How to implement inclusionary zoning
In order to implement inclusionary zoning, a municipality will undertake a series of steps, including an assessment report to understand local housing supply and demand, as well as potential impacts which might arise from IZ, and then implement official plan policies and pass ZBL guiding where and how inclusionary zoning will be implemented. Once implemented, the municipality is responsible for monitoring the affordable housing units and reporting on outcomes.