Purpose Built Rental Housing

WHEREAS the provision of incentives for private investors and developers to build purpose-built rental housing would increase the rental housing supply and contribute to overall affordable housing options; as demonstrated through programs in the United States, like the Low Income Housing Tax Credit; AND WHEREAS the discontinued federal Multi-Unit Residential Building program provided for an incentive to create rental housing, not replacing this program has created diminished rental housing stock; Therefore be it resolved that the Federation of Canadian Municipalities request that the federal government review current tax structures and programs to provide incentives for investment that increase purpose-built rental stock.