Advocacy At A Glance
Alternative to Infrastructure Financing
BILD Alberta hired consulting firm MNP to conduct a comprehensive review of the current off-site levy mechanism and identifying alternatives to fund future infrastructure projects. The review and assessment will focus on:
  • Analysis of the current off-site levy regime and identify any proposed modifications to address existing challenges.
  • A cross-jurisdictional analysis of infrastructure financing alternatives in the United States and Canada to identify potential options.
  • Test the feasibility of each proposed solution with industry partners through engagement sessions.
  • Develop and execute an advocacy plan based on the preferred option. 

A preliminary draft of the report is expected later this summer with engagement workshops taking place shortly after. A final report will be ready at the beginning of 2022.

Industry Approach to Reducing GHG Emissions in Housing
BILD Alberta, through the Board of Directors, will be finalizing an Action Plan based on the consultant's recommendations. The consultant’s report and BILD Alberta Action plan will be shared in next month’s newsletter.

Expropriations
BILD Alberta staff continue to monitor private member Bill 206: Property Rights Statutes Amendment Act and discussions are currently underway with a Select Special Committee on Real Property Rights. The Committee is currently reviewing whether the expropriation process provided under the Expropriation Act is adequate. Allowing development to proceed once the expropriation process moves to the step of valuation and compensation is one of BILD Alberta’s red tape reduction submissions.

If you would like more information on any of the above, please reach out to Saheb Dullet.
BILD Awards Extended & Judges Needed
We are excited to have nearly 270 entries received at the deadline for the BILD Alberta Awards. Thank you to all the individuals who spend countless hours assembling and completing the submissions online.

Extended Deadline
There are a few categories that were a bit short on the number of entries required to stage a competition. For the first time ever, we are extending the deadline for submission until June 4 for the following 4 categories only:

Judges Needed
Now we need your help to select who will be the winners of each category. If you are interested in participating this year let us know!
Fall Conference Update
BILD Alberta has been closely monitoring the public gathering restrictions for months. While regulations are anticipated to ease in the near future they still remain relatively uncertain in order to plan a safe and successful event. We have made the difficult decision to cancel this year's fall conference in Jasper.

Special Room Rates
If you'd like to visit Fairmont Jasper Park Lodge September 16-19, the hotel has graciously extended the conference room rate for BILD Alberta members to enjoy. Contact the hotel at 1-866-540-4454 and mention you are with BILD Alberta to get the conference group rate or book online using the link above.
Housing Data for April
The following table provides a snapshot of Alberta’s starts, inventory and sales. More information on the individual centres is available in the local reports.

Price Escalation Clause
CHBA National prepared a price escalation clause for specified building materials. Members can add the clause to contracts to help mitigate some of the incurred costs with rising lumber prices.

To access the document visit CHBA.ca>Members' Area>Industry Issues>Softwood Lumber. At the top right of the webpage you will find the Word document.
CHBA National - Stress Test Changes
OSFI has now confirmed, a few days early, that the changes to the uninsured stress test will take effect June 1; and in new news, the Deputy Prime Minister and Minister of Finance Chrystia Freeland has announced that the same changes are now coming to the stress test for insured mortgages, also effective June 1, to keep both streams of the mortgage system aligned.
 
The stress test rate will now be the greater of the borrower’s mortgage contract rate plus 2 percent, or 5.25 percent (this is an increase from the floor of about 4.79 percent right now). This will apply to mortgages approved on June 1, 2021, or later.
 
Per CHBA’s previous notice, according to OSFI: “If a mortgage is pre-approved before June 1, the new minimum qualifying rate does not apply, even if the sale doesn’t close until after June 1. However, there must also be a signed purchase and sale agreement.” It is therefore recommended that you ensure all of your clients, for sales prior to June 1, have all the necessary documentation from their financial institutions accordingly.

For more information on CHBA’s position on the proposed changes, please click here.
Free User's Guides
To help ensure that the National Model Codes are properly understood and effectively implemented, the NRC is now offering free electronic access to the related user’s guides, including:
The user’s guides are designed to complement the National Model Codes by providing additional background information, as well as detailed examples and calculations.

NRC has now made the current and previous electronic editions of these publications available for download in PDF format from the NRC Publications Archive.