Councillor Tim Wake, who was absent last week when council gave three readings to the Cheakamus Crossing Housing Agreement, said he is uncomfortable with the latest decision to begin calculating the homes’ appreciation as early as this fall.
The clause goes against the municipality’s status-quo policy of tying resident restricted properties overseen by the Whistler Housing Authority (WHA) to the Canadian Consumer Price Index (CCPI) only after an occupancy permit has been issued.
“I really regret not being able to speak to that change because I do not support it, and I will not be supporting adopting it tonight,” said Wake.
“This changes the normal way these covenants are dealt with. I do not think the change supports the combined wisdom of the WDC (Whistler 2020 Development Corporation) and the WHA (Whistler Housing Authority).”
In a 4-1 vote, Council adopted the agreement that will allow appreciation to begin as soon as the homes are purchased, likely this fall, even though occupancy will not be granted until after the Winter Games in 2010.
Municipal staff has said that this change may help tempt earlier buyers.
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