66: Creating Sustainable "Made in Kelowna" Housing Solutions with Kelowna City Councillor Loyal Wooldridge

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Welcome back to Kelowna Real
Estate Podcast.

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I'm your mortgage broker host,
Taylor Atkinson.

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And I am the real estate agent
host, Matt Glenn.

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What's happening, Taylor?
We had a week off.

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Yeah.

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I know everyone missed Yeah, we

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needed to take a bit of a break to
get some energy because we got a

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long list of good guests coming
in.

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So we wanted to for that.

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Yeah, that's true, we do.

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Yeah, actually our last show was
with Scott Beaton, which was an

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awesome show and kind of relevant.

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We had a 2.7 inflation rate come

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in.

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So everything's kind of lined up

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for the summer for some hopefully
rate cuts.

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But yeah, give that a listen.

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If you haven't, he dives into all

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that data.

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We a ton of feedback on that show.

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That was a good one.

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Yeah.

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Yeah.

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That was great.

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Yeah.

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He was a great guest.

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He was dropping knowledge the
whole time.

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To continue with good guests.

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So today, pretty high profile

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guests, city council, regional
board chair, community advocate,

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entrepreneur, volunteer,
philanthropist.

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candidate in the fall election.

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A lot of the guests we've had on

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this show, we kind of speak to the
other side of that.

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Yeah.

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a Kelowna real estate podcast,

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like we're in a bit of an echo
chamber from all the points of

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view we hear.

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Like the short-term rental thing

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is most of the people we hear for
are against the laws, against a

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lot of the new regulations that
have come in.

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We wanted to get ourselves out of
our bubble and talk to the other

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side.

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So we have the best guest to talk

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about that.

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And that is Loyal Wilbridge.

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He did not good guests too.

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You know, one of my takeaways was

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like, obviously there is a vote
this fall.

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If you don't know about it, try
and do some research, listen to

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the show.

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But like one of the points he got

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across was like, don't just vote
for the party, vote for the person

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and allow that person to be the
voice, you know, in Victoria at a

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government level.

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So it was Yeah.

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nice to sit down and get to know
him.

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like Funny, halfway through the
you voice, in Victoria know, at a

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government So it level.

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was nice to sit down and get to

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know him.

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Funny, like halfway through the

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show, kind of realized that he's a
Boucherie boy.

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So he's a couple of years ahead of
me, but yeah, respect to the West

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Kelowna side.

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But yeah, you're right.

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We do talk a lot about kind of
more of the entrepreneurial side

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and small businesses, and he's a
good person to have on because,

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you know, that's how he cut his
teeth in Kelowna, was starting a

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small And business.

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then he's slowly worked up to have

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on you because, that's know, how
he cut his teeth in Kelowna was

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starting a small business.

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And then he's slowly worked up the

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chain on council and regional
board and now NDP candidate.

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So very impressive resume that he
carries and a really cool guy.

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Stick around to the end of the
show because how he gives back was

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amazing.

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It was pretty inspiring.

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It was really interesting talking
to him about his whole career and

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then to learn how much of a role
he played in Kelowna when all hell

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break loose during the fires last
year.

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He was part of the regional
district, like the director or the

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chair during all that time.

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And really an interesting dude.

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He's seen all these issues from
all the sides.

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He was an entrepreneur.

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Now he's making policy for the

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city of Kelowna.

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So he was a great guest to have

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on.

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We're really happy that he took

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the time to talk to I mean, like
we said, we talked mostly, I'm

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speaking for myself, more on the
capitalist side on this show, but

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it's not to say that we don't
agree with the social aspects.

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And he's kind of somebody that
blends the two together from our

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conversation.

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You know, Kelowna is an amazing

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city and it's growing at a very
quick rate.

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So we need to be conscious of
both, you know, supporting the

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capitalist ventures and supporting
our social needs here for

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everyone.

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So yeah, we just loved having him

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on the show.

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He was a good guy.

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So I think you guys are really
going to enjoy this one and get

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out and vote no matter who it's
for.

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Just get out there and do some
education.

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Yeah, we've got to bring up the
voting.

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So like he was saying that the
municipal turnout is like around

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30%, which is just insanely low.

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Yeah.

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Come on.

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So we got to vote for municipal,

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but the election in the fall is
for provincial, which is higher.

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We get like 60%, which is pretty
high, but could do better.

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So get out and vote in November.

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What day is the election?

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The polls open middle of October.

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The final, like once we get the

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data back, I think it's October
19th.

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It has to be closed out at.

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So learn about the candidates by

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listening to shows like this and
get out and vote in full.

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Yeah.

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And this show, like every show, is

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sponsored by Century 21 Assurance
Realty, the best brokerage in town

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by far.

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My home brokerage, where I've

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always been, where I'll always be.

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I love it.

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The atmosphere is awesome.

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The agents are awesome.

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The health is awesome.

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It's really a place where you can

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grow your business.

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So if you're a little bit solid in

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this market right now or looking
for a change, call Max, call Dean,

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call me, set up a meeting, and
look for the move.

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Enjoy the show.

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Well, welcome to the show.

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Thanks for us.

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Thanks for having me on, guys.

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Thanks so much.

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you very much for coming.

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We appreciate Pleasure to be here.

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So we like to start our show just

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kind of like connecting to the
listener.

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What's your perfect Friday look
like in terms of work,

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productivity?
What gives you energy?

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And then leading into the weekend,
what do you do for fun?

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Yeah, I love that you start with
Friday.

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Most people start with Monday.

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I think that's really boring.

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That's sets us apart.

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I've always had a philosophy that

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if you fail to plan, you plan to
fail.

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So I'm pretty regimented in my
morning routines, whether it's

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Monday or it's Friday.

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to So I'm pretty regimented in my

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morning fail.

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whether it's Monday or it's

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Friday.

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routines, It's really for getting

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myself started with the mindset
and physical exercise to be able

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to get my head around whatever the
week has been.

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But I think probably my favorite
thing about Friday is to always

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have something to look forward to
at the end of the day.

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That's when I tend to always book
my RMT or whatever.

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But in government, I find that
everyone wants to clear their

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inbox by the end of the day.

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So I'm just always in the mindset

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that I know Friday will blow up at
some point.

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And it's usually after one o'clock
in the afternoon.

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Oh, yeah.

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So it's just, you know, setting

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the day up to anticipate those
things.

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So when it does go off the rails,
you have a plan.

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kind of like real estate, too.

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It kind of starts to pick up for

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the weekend, especially for Matt.

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Yeah, it does.

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But usually whenever you're slow,
I always tell everyone, book a or

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a date night and you get busy in a
hurry.

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So I imagine it's similar to you.

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I've real estate deals where, you

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know, the extension comes in at
430 in the afternoon on a Friday

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or whatever it is.

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So, yeah, of Well, you basically

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started out in Kelowna as a small
business owner.

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Can you kind of talk to us a
little bit about that before we

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dive into like the side?
Yeah.

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So I've lived here since 1993.

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My dad and my mom were both

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members of the RCMP and we were
transferred out here then when I

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was quite young.

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So graduated high school here,

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started my career here, opened my
business when I was 21 years old,

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which was Loyal Hair and operated
that for 16 years.

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We started in Glenmore, moved
across from the mall and then

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opened a second location downtown
on St. Paul Street.

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And then I exited that business
about three years ago and sold the

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commercial real estate just this
year.

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So I left the private sector to
join the public sector because of

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the social challenges that we were
seeing downtown.

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We still continue to.

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And I really wanted to be involved

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in the solutions and understanding
them from a grassroots level.

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So that's why I decided to exit
the private industry and go into

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public so it's been quite the
journey and I guess I mean top of

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mind for me just you know forgive
Matt and I's ignorance with

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politics I'm sure like a lot of
Kelowna Canadian people we just

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are blinded by it so previous to
running for NDP you were with the

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Conservative Party not the Party
yeah I was working with the BC

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United Party when it was a true
coalition party of both federal

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liberals and federal conservatives
for many years.

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That was my home for a while, but
it's a party that left me and my

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values no longer aligned.

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So last year I decided to leave

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that party and pursue other
options.

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And working alongside this
government for the past six years

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has really shown me how they
invest into people and want to do

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the right thing.

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And being on council and having an

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open door to both the premier and
different cabinet ministers

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whenever we've needed something in
Kelowna, they've always been there

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and they've invested here
regardless of not having

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representation or it being a
stronghold for the party.

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And it just shows that that's the
right thing to do for people.

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And so when I left the other
party, decided to explore other

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options and I have found my home
with the New Democrats.

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So I to ask, has your change had
anything to do with the leadership

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change at Falcon or the BC No, not
at all.

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For me, it's really about values.

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Whatever organization I'm part of,

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it really has to connect with me
as a person because I could never,

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as who I am, represent something
that I don't fully align with.

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So it was either I don't run or I
find a different home.

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So it wasn't about the leadership
or a name change or the branding.

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It was really about who aligns
best with me.

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And then most importantly, where I
can deliver the best results.

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And frankly, with the other
parties right now, I just do not

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see those results being delivered
in short order.

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And we have some really pressing
issues here in Kelowna and we

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deserve to have a voice in I guess
historically, like has NDP really

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had much power in the Okanagan?
It's been 84 years.

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Right.

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Okay.

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I it up and I saw the bed.

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Yeah.

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So what makes you think that this
is the time like watching the

252
00:07:43,370 --> 00:07:45,224
polls, you obviously feel like you
have a pretty good Yeah.

253
00:07:45,224 --> 00:07:47,527
You know, there's only one poll
that matters and that's election

254
00:07:47,527 --> 00:07:47,696
day.

255
00:07:47,796 --> 00:07:49,720
And obviously as we get closer and

256
00:07:49,720 --> 00:07:53,166
closer to an election, as always,
people are more attuned to the

257
00:07:53,166 --> 00:07:53,649
political climate.

258
00:07:53,649 --> 00:07:56,311
And so they will be more vocal

259
00:07:56,311 --> 00:07:57,653
around where they're leaning
heading into the election.

260
00:07:57,653 --> 00:08:00,660
So it's always a barometer check
to see where folks are sitting.

261
00:08:00,660 --> 00:08:03,797
But at the end of the day, for me,
it's a strong ground game.

262
00:08:03,797 --> 00:08:06,118
I've been doing the work on
council.

263
00:08:06,118 --> 00:08:09,869
And so whatever party I'd be a
part of, I'm going to represent

264
00:08:09,869 --> 00:08:12,073
Kelowna to the best of my ability.

265
00:08:12,073 --> 00:08:13,378
And I've always been deeply

266
00:08:13,378 --> 00:08:15,052
involved in Kelowna, whether
that's in the non-for-profit

267
00:08:15,052 --> 00:08:17,057
sector, but most importantly,
doing the work and really

268
00:08:17,057 --> 00:08:19,413
understanding what the complex
challenges are we face here in the

269
00:08:19,313 --> 00:08:21,524
central Okanagan and in Kelowna
proper, and what are the

270
00:08:21,624 --> 00:08:21,860
sustainable solutions.

271
00:08:21,860 --> 00:08:23,742
There's going to be a lot of

272
00:08:23,742 --> 00:08:25,624
political bravado and simple
answers to really complex

273
00:08:25,624 --> 00:08:25,866
problems.

274
00:08:25,866 --> 00:08:27,930
But I can tell you after doing

275
00:08:27,930 --> 00:08:29,844
this work for six years, it's not
that easy.

276
00:08:29,844 --> 00:08:32,480
So anyone that's coming out of the
gate and thinking that you're

277
00:08:32,480 --> 00:08:34,885
going to wave a magic wand and
homelessness is going to go away

278
00:08:34,986 --> 00:08:36,090
has another thing coming for them.

279
00:08:36,090 --> 00:08:37,746
So that's what I'm really bringing

280
00:08:37,746 --> 00:08:40,231
to the table is the amount of work
that I've been doing.

281
00:08:40,331 --> 00:08:42,480
Hopefully that can win us the
pretty cool actually to me, like

282
00:08:42,580 --> 00:08:48,127
to see somebody switch parties
because it just shows that like

283
00:08:48,127 --> 00:08:50,582
you're confident in yourself and
what you want to do instead of

284
00:08:50,535 --> 00:08:52,865
just trying to go with a party
that, you know, you think might

285
00:08:52,865 --> 00:08:53,985
win the votes or not.

286
00:08:53,985 --> 00:08:55,341
Cause as a voter, like we're

287
00:08:55,341 --> 00:08:57,506
really influenced by you guys,
obviously, you know, having

288
00:08:57,506 --> 00:09:01,635
conversations with you and can you
walk us through how that looks

289
00:09:01,635 --> 00:09:02,989
provincially, I guess, because we
vote locally.

290
00:09:02,989 --> 00:09:04,876
How does it kind of work up the
ladder?

291
00:09:04,876 --> 00:09:09,145
think the beauty of Canadian
politics in general is that

292
00:09:09,058 --> 00:09:10,324
there's the option to vote for the
person, not the party.

293
00:09:10,236 --> 00:09:12,051
And I know myself as a voter, I
voted for almost every party there

294
00:09:11,891 --> 00:09:12,908
is based on who would represent
locally.

295
00:09:12,908 --> 00:09:15,797
And so when I'm talking to folks
on the door, it's really, well, if

296
00:09:15,797 --> 00:09:18,881
you've never voted for the New
Democrats before, trust someone

297
00:09:18,981 --> 00:09:22,060
that's going to have your voice in
Victoria, not necessarily someone

298
00:09:22,060 --> 00:09:24,790
that's just coming out of the
woodwork now that there's an

299
00:09:24,790 --> 00:09:25,984
election, but that's been doing
the work.

300
00:09:25,984 --> 00:09:28,316
And so Canadians, I find, are more
apt to think that way.

301
00:09:28,316 --> 00:09:30,157
And our friends south of the
border, very different.

302
00:09:30,157 --> 00:09:34,714
You have two parties and you're
either one or the other and you

303
00:09:34,614 --> 00:09:35,979
don't ever cross.

304
00:09:35,979 --> 00:09:36,953
I think in Canada and British

305
00:09:36,953 --> 00:09:39,161
Columbia, that pulse is a little
bit different.

306
00:09:39,061 --> 00:09:42,095
Obviously, you're going to get one
side that only votes this way and

307
00:09:42,095 --> 00:09:44,121
another only votes that way.

308
00:09:44,121 --> 00:09:46,333
But folks are open to having that

309
00:09:46,333 --> 00:09:46,499
conversation.

310
00:09:46,499 --> 00:09:47,928
So I guess if we're aligned with

311
00:09:47,928 --> 00:09:51,665
you, but maybe not so much the NDP
in terms of provincial, I mean,

312
00:09:51,665 --> 00:09:54,725
let's be honest, some of the
legislation that's come out

313
00:09:54,725 --> 00:09:57,242
recently in the last year has been
fairly detrimental if you're in

314
00:09:57,142 --> 00:09:59,402
the real estate business or maybe
entrepreneurship type of business.

315
00:09:59,402 --> 00:10:02,990
So what kind of voice, I guess,
are you going to bring to

316
00:10:03,090 --> 00:10:03,638
Victoria?
Sure.

317
00:10:03,538 --> 00:10:03,720
Yeah.

318
00:10:03,720 --> 00:10:05,273
So first and foremost, we need

319
00:10:05,273 --> 00:10:05,945
made in Kelowna solutions.

320
00:10:05,945 --> 00:10:06,994
Like we have very different

321
00:10:06,994 --> 00:10:08,695
community and with different
nuances to it.

322
00:10:08,695 --> 00:10:11,873
And one of those, and we'll
probably dive into a little bit

323
00:10:11,773 --> 00:10:13,061
more short term rentals.

324
00:10:13,061 --> 00:10:15,143
I know it's been a hot button

325
00:10:15,142 --> 00:10:17,715
issue, but at the city of Kelowna,
we really took a leadership role

326
00:10:17,715 --> 00:10:20,530
in 2020 at really regulating that
industry because we saw the

327
00:10:20,530 --> 00:10:22,839
impacts that we were having on the
housing market.

328
00:10:22,839 --> 00:10:24,336
And a lot of communities hadn't
done that yet.

329
00:10:24,336 --> 00:10:26,432
So I understand why government
came out with a sledgehammer and

330
00:10:26,432 --> 00:10:28,671
made a blanket policy and
legislation around short-term

331
00:10:28,671 --> 00:10:31,219
rentals because, quite frankly, it
takes a lot of courage to make

332
00:10:31,219 --> 00:10:31,654
those changes.

333
00:10:31,654 --> 00:10:33,761
And in 2020, we really took a lot

334
00:10:33,761 --> 00:10:34,691
of flack for that.

335
00:10:34,691 --> 00:10:35,930
make those changes.

336
00:10:35,930 --> 00:10:39,455
And in 2020, we really took a lot
of flack for that.

337
00:10:39,455 --> 00:10:43,445
Now, why I say we need made in
Kelowna solution is we have

338
00:10:43,545 --> 00:10:45,855
certain buildings that have been
built with the purpose of being

339
00:10:45,855 --> 00:10:46,276
short-term rentals.

340
00:10:46,276 --> 00:10:48,704
That is the issue we hear all the

341
00:10:48,804 --> 00:10:49,310
Exactly.

342
00:10:49,210 --> 00:10:51,235
And so, you know, there's a front

343
00:10:51,235 --> 00:10:54,800
desk in the lobby or that was the
purpose of the building.

344
00:10:54,800 --> 00:10:57,443
And so with that in mind, that's
where a Kelowna voice is really

345
00:10:57,443 --> 00:10:57,664
important.

346
00:10:57,664 --> 00:10:59,328
Now, I could have just been a

347
00:10:59,327 --> 00:11:01,220
barking dog in opposition for the
next four years saying everything

348
00:11:01,260 --> 00:11:01,725
is bad.

349
00:11:01,725 --> 00:11:03,177
But what I've learned on council

350
00:11:03,177 --> 00:11:06,016
is that when you can work
alongside government and find ways

351
00:11:06,016 --> 00:11:08,443
to massage policy that can work
for your community, that's where

352
00:11:08,443 --> 00:11:09,336
everyone can win.

353
00:11:09,336 --> 00:11:10,701
Like anyone can pound the table

354
00:11:10,701 --> 00:11:13,544
and scream and yell and be
theatrical about it.

355
00:11:13,544 --> 00:11:18,745
But at the end of the day is how
can you make it work for Kelowna?

356
00:11:18,745 --> 00:11:21,245
And that's really what I'm
committed to So what was the

357
00:11:21,345 --> 00:11:22,342
thinking behind the city of
Kelowna?

358
00:11:22,342 --> 00:11:25,611
Like the BC government came on
with their things and no church

359
00:11:25,436 --> 00:11:26,387
and rentals and the city of
Kelowna added on like...

360
00:11:26,312 --> 00:11:26,487
They made more strict.

361
00:11:26,487 --> 00:11:27,163
More added on another level, like

362
00:11:27,163 --> 00:11:28,164
you can't do the suite to the
carriage house.

363
00:11:28,064 --> 00:11:30,618
What was the thought behind that?
that discussion I actually wasn't

364
00:11:30,618 --> 00:11:35,139
part of, but Kelowna Council did
take a stronger view on it.

365
00:11:35,039 --> 00:11:37,404
And their position from the start
around carriage homes and suites

366
00:11:37,404 --> 00:11:40,174
has been, those are really lower
priced units for renters.

367
00:11:40,174 --> 00:11:42,400
So I understand why they took that
position.

368
00:11:42,400 --> 00:11:45,342
You know, they could have gone
more so along with what government

369
00:11:45,342 --> 00:11:47,923
had been recommending, but that's
the choice that they decided to

370
00:11:47,923 --> 00:11:48,026
make.

371
00:11:48,126 --> 00:11:49,957
I will say it has been a real

372
00:11:49,957 --> 00:11:51,114
challenge in neighborhoods
managing short-term rentals.

373
00:11:51,114 --> 00:11:54,203
The amount of complaints that we
receive annually is quite

374
00:11:54,203 --> 00:11:54,378
significant.

375
00:11:54,378 --> 00:11:56,242
And up until now, there hasn't

376
00:11:56,242 --> 00:11:58,340
really been a detractor from
people misbehaving because as

377
00:11:58,340 --> 00:12:00,168
local government, we're
constrained to how we can find

378
00:12:00,168 --> 00:12:01,640
folks that aren't aligning with
our policies and the fines are

379
00:12:01,640 --> 00:12:01,945
quite low.

380
00:12:01,945 --> 00:12:03,221
So people just started to build

381
00:12:03,221 --> 00:12:04,412
that into their business model.

382
00:12:04,412 --> 00:12:05,657
So when industries are

383
00:12:05,657 --> 00:12:07,119
unregulated, unfortunately,
there's bad actors that paint

384
00:12:07,119 --> 00:12:08,126
everyone with the same brush.

385
00:12:08,126 --> 00:12:09,667
So there's a lot of nuance to that

386
00:12:09,667 --> 00:12:11,920
So I guess magic wand for you,
what would be the solution?

387
00:12:11,820 --> 00:12:13,921
Like, what would you like to see
happen?

388
00:12:13,921 --> 00:12:15,430
Well, first and foremost, I
already mentioned it.

389
00:12:15,430 --> 00:12:18,403
I think if you're going to operate
commercial business, like if

390
00:12:18,402 --> 00:12:22,393
you're to lease a space downtown,
for example, you're going to pay a

391
00:12:22,393 --> 00:12:23,217
commercial tax rate.

392
00:12:23,217 --> 00:12:24,296
The amount of services that

393
00:12:24,296 --> 00:12:26,959
commercial businesses use as
opposed to residential is quite

394
00:12:26,959 --> 00:12:27,340
significant.

395
00:12:27,340 --> 00:12:29,433
So if people want to operate at

396
00:12:29,433 --> 00:12:33,120
that level, like a mini hotel,
then pay a tax rate that the mini

397
00:12:33,020 --> 00:12:34,963
hotels would be paying, paying a
commercial insurance rate, for

398
00:12:34,953 --> 00:12:35,428
example.

399
00:12:35,428 --> 00:12:37,434
So a lot of people say, well, I

400
00:12:37,424 --> 00:12:38,876
bought this condo as a business.

401
00:12:38,876 --> 00:12:40,414
Okay, well then back up and pay

402
00:12:40,414 --> 00:12:43,878
those rates because they're
significantly higher and make that

403
00:12:43,878 --> 00:12:44,640
work.

404
00:12:44,640 --> 00:12:47,789
That said, when it comes to the

405
00:12:47,689 --> 00:12:51,423
buildings that have been purpose
built, I do think that it's where

406
00:12:51,423 --> 00:12:54,282
there needs to be more
conversational government.

407
00:12:54,182 --> 00:12:56,101
And we've been having those behind
the scenes.

408
00:12:56,101 --> 00:12:58,524
Again, advocacy isn't done by
pounding the table and making

409
00:12:58,524 --> 00:12:59,181
government look bad.

410
00:12:59,281 --> 00:12:59,989
It's about having constructive

411
00:12:59,989 --> 00:13:00,343
conversations.

412
00:13:00,342 --> 00:13:02,135
Now, the Minister of Housing has

413
00:13:02,235 --> 00:13:06,731
been very strong in his positions
on these pieces of legislation.

414
00:13:06,731 --> 00:13:09,160
I can't see it changing before the
election because there can't be

415
00:13:09,160 --> 00:13:09,870
special exceptions made.

416
00:13:09,870 --> 00:13:11,432
And politically, I don't think

417
00:13:11,432 --> 00:13:11,928
that's sound.

418
00:13:12,028 --> 00:13:13,845
So that's honestly what I'd be

419
00:13:13,845 --> 00:13:16,378
advocating for is made in Kelowna
solutions when we can look at

420
00:13:16,478 --> 00:13:18,322
different buildings that have been
built with that purpose.

421
00:13:18,322 --> 00:13:18,630
Yeah.

422
00:13:18,630 --> 00:13:20,419
Yeah, because like buildings like

423
00:13:20,319 --> 00:13:22,756
Aqua, Caban, there's fears now
about people even being able to

424
00:13:22,656 --> 00:13:25,579
close to buy And obviously, it
puts the end user, like the buyer

425
00:13:25,579 --> 00:13:28,698
in a position, but also puts the
developer in a position.

426
00:13:28,798 --> 00:13:32,418
Like you kind of sold all these
things, saying one thing, and then

427
00:13:32,418 --> 00:13:34,437
before they're even finished, you
get a rule change.

428
00:13:34,437 --> 00:13:38,376
I mean, yeah, biasly, like Matt
and I are mostly in this echo

429
00:13:38,476 --> 00:13:40,930
chamber because we do speak with a
lot of developers and say

430
00:13:40,930 --> 00:13:42,698
investors and people that are in
the industry.

431
00:13:42,698 --> 00:13:46,181
And we do feel that it's hindering
the amount of projects that are

432
00:13:46,181 --> 00:13:48,056
starting because maybe developers
don't feel the support from a

433
00:13:48,056 --> 00:13:50,435
provincial government that they
have the ability to build in these

434
00:13:50,417 --> 00:13:50,825
profit margins.

435
00:13:50,825 --> 00:13:52,876
So I guess in terms of like

436
00:13:52,776 --> 00:13:54,216
housing supply, what are the next
steps?

437
00:13:54,216 --> 00:13:56,905
Like we've, I can't say
personally, I agree much with much

438
00:13:56,905 --> 00:13:58,347
of the legislation that's come
out.

439
00:13:58,238 --> 00:14:01,918
I understand why, but I mean, I am
a little bit more capitalist in

440
00:14:01,918 --> 00:14:05,090
the sense where I feel like to
build units, we just need to give

441
00:14:05,090 --> 00:14:07,497
it to the private sector and let
them build.

442
00:14:07,497 --> 00:14:11,771
So I'd push back a little bit on
that, I'm assuming the legislation

443
00:14:11,771 --> 00:14:13,416
you're speaking to is just
short-term rental legislation?

444
00:14:13,416 --> 00:14:13,622
Yeah.

445
00:14:13,622 --> 00:14:13,725
Right.

446
00:14:13,725 --> 00:14:16,449
And so the Housing Supply Act is
actually really capitalist driven

447
00:14:16,449 --> 00:14:19,603
because if you look at allowing
multi-unit buildings in every

448
00:14:19,603 --> 00:14:22,211
residential lot across the city,
it's significantly increasing

449
00:14:22,211 --> 00:14:22,406
supply.

450
00:14:22,406 --> 00:14:24,428
And it's been the NIMBYs of it.

451
00:14:24,428 --> 00:14:27,887
It's taking out the pushback that
we see at public hearings.

452
00:14:27,887 --> 00:14:29,797
I agree that So, you know,
short-term rentals aside, the

453
00:14:29,797 --> 00:14:32,060
Housing Supply Act is really meant
to bring housing on faster and to

454
00:14:32,120 --> 00:14:33,736
bring as many units on as much as
possible.

455
00:14:33,704 --> 00:14:36,900
And I can tell you, sitting on
council for the last six years,

456
00:14:36,860 --> 00:14:39,136
every other Tuesday night when
we'd sit in public hearings, it'd

457
00:14:39,136 --> 00:14:42,326
be about 95% of the people that
are opposed to housing and 5%

458
00:14:42,326 --> 00:14:42,814
there to support it.

459
00:14:42,814 --> 00:14:44,705
And generally those that would be

460
00:14:44,705 --> 00:14:49,352
there to support it would be a Gen
Z or a millennial that has nowhere

461
00:14:49,352 --> 00:14:49,940
to live.

462
00:14:49,940 --> 00:14:51,815
And so that is the friction that

463
00:14:51,815 --> 00:14:54,669
local government feels is that if
they vote in favor of something in

464
00:14:54,669 --> 00:14:57,591
front of all those people sitting
in the gallery, well, they're

465
00:14:57,591 --> 00:15:00,074
going to lose votes in the next
municipal election.

466
00:15:00,074 --> 00:15:03,446
So we just saw yesterday council
voted down a six-story building on

467
00:15:03,446 --> 00:15:05,792
Glenmore Road because there were
opposition letters written in from

468
00:15:05,792 --> 00:15:06,463
the neighborhood.

469
00:15:06,463 --> 00:15:06,559
Yeah.

470
00:15:06,559 --> 00:15:08,333
So again, it's those pressures
when just up the road, another

471
00:15:08,333 --> 00:15:10,018
application the same day, the same
zoning, MF3, received approval,

472
00:15:10,018 --> 00:15:11,753
which didn't have any negative
feedback attached to it.

473
00:15:11,753 --> 00:15:12,789
So that's just an indicator how...

474
00:15:12,789 --> 00:15:14,334
I can't believe the speaking

475
00:15:14,334 --> 00:15:15,107
realists agree so well.

476
00:15:15,107 --> 00:15:17,414
And that's the frustrating part

477
00:15:17,414 --> 00:15:21,853
around housing supplies, because
I'll get a letter that says, well,

478
00:15:21,852 --> 00:15:25,172
this apartment building shouldn't
be built in a residential

479
00:15:25,172 --> 00:15:25,306
neighborhood.

480
00:15:25,306 --> 00:15:28,604
And so I read the email and I'm

481
00:15:28,604 --> 00:15:31,744
like, but it's residential
properties that are being built.

482
00:15:31,744 --> 00:15:32,838
They mean single family homes.

483
00:15:32,838 --> 00:15:33,579
And I get it.

484
00:15:33,579 --> 00:15:36,763
When neighborhoods are changing,
it does change the look and feel

485
00:15:36,763 --> 00:15:37,756
of a neighborhood.

486
00:15:37,756 --> 00:15:39,680
But we have to remember that we

487
00:15:39,680 --> 00:15:42,696
have to take action on what is a
housing crisis right now.

488
00:15:42,696 --> 00:15:44,940
And UBCO has a thousand students
that don't have housing.

489
00:15:45,180 --> 00:15:47,517
I'm talking to faculty out there
that are professors that can't buy

490
00:15:47,517 --> 00:15:47,742
condos.

491
00:15:47,742 --> 00:15:49,000
They're in bidding wards here in

492
00:15:49,000 --> 00:15:49,286
Kelowna.

493
00:15:49,286 --> 00:15:50,788
that are professors that can't buy

494
00:15:50,788 --> 00:15:51,932
They're in bidding condos.

495
00:15:51,932 --> 00:15:53,147
wards here in Kelowna.

496
00:15:53,147 --> 00:15:55,936
So we know we need over 2,400
units a year injected into our

497
00:15:55,936 --> 00:15:56,690
inventory here in Kelowna, whether
that's market or affordable.

498
00:15:56,684 --> 00:16:00,470
And so the only way to do that is
to really reduce barriers and do

499
00:16:00,470 --> 00:16:02,410
that through what the province has
done.

500
00:16:02,410 --> 00:16:04,817
And I know behind the scenes,
other parties were planning to do

501
00:16:04,817 --> 00:16:07,538
the same thing because they know
that you have to get out of the

502
00:16:07,529 --> 00:16:10,609
way of developers and a lot of the
local government processes do

503
00:16:10,609 --> 00:16:12,494
hinder bringing those online Yeah.

504
00:16:12,494 --> 00:16:15,414
I guess from a national point,

505
00:16:15,414 --> 00:16:18,362
which obviously this isn't
probably in your wheelhouse, I

506
00:16:18,362 --> 00:16:22,679
don't know how much it goes up the
food chain, but like bare land

507
00:16:22,679 --> 00:16:26,007
trust agreements, that was like a
complete flop.

508
00:16:26,007 --> 00:16:29,064
I think there was about 44,000
filings, which is obviously pretty

509
00:16:29,064 --> 00:16:30,400
costly to everyone.

510
00:16:30,400 --> 00:16:31,535
Capital gains we're not still sure

511
00:16:31,535 --> 00:16:33,015
how inclusion, that's going to
come down.

512
00:16:33,015 --> 00:16:35,766
Speculation tax would be one
provincially that maybe we could

513
00:16:35,766 --> 00:16:36,295
speak about.

514
00:16:36,295 --> 00:16:37,723
There just seems like we're

515
00:16:37,723 --> 00:16:38,508
swimming upstream a little bit.

516
00:16:38,499 --> 00:16:40,704
So speculation tax, do you have a

517
00:16:40,704 --> 00:16:44,260
bit of a position on that?
So I won't talk about the federal

518
00:16:44,360 --> 00:16:47,955
policies because at the end of the
day, we don't control the central

519
00:16:48,055 --> 00:16:50,092
bank and the geopolitical climates
in terms of how international

520
00:16:50,092 --> 00:16:50,900
trade works.

521
00:16:50,900 --> 00:16:52,363
But when it comes to speculation,

522
00:16:52,363 --> 00:16:52,872
it was interesting.

523
00:16:52,872 --> 00:16:54,081
I was having a conversation back

524
00:16:54,081 --> 00:16:57,615
in December at an event with a
realtor that represents a lot of

525
00:16:57,615 --> 00:16:57,843
pre-purchase.

526
00:16:57,843 --> 00:17:00,206
And he said, oh man, you know,

527
00:17:00,206 --> 00:17:02,240
since the short-term rental
legislation, sorry, talking about

528
00:17:02,400 --> 00:17:04,035
it, my pre-sales for studios and
one bedrooms have completely

529
00:17:04,002 --> 00:17:04,276
fallen off the map for these
pre-sales.

530
00:17:04,239 --> 00:17:09,880
And we need those for the
development to get off the ground.

531
00:17:09,816 --> 00:17:09,880
I thought, well, interesting,
because our housing needs

532
00:17:09,851 --> 00:17:15,675
assessment for people to live in
homes is showing the biggest

533
00:17:15,575 --> 00:17:16,005
deficit are one bedrooms and
studios.

534
00:17:16,005 --> 00:17:16,920
So we've just been like pounding
out those applications.

535
00:17:16,920 --> 00:17:18,349
And I've been the one to always
speak about the need for this

536
00:17:18,265 --> 00:17:18,464
housing.

537
00:17:18,435 --> 00:17:19,694
But what's come to light is that

538
00:17:19,694 --> 00:17:21,550
our housing needs assessment data
has actually been skewed because

539
00:17:21,550 --> 00:17:22,582
those purchases weren't
necessarily for housing need of

540
00:17:22,582 --> 00:17:25,291
people to live in them, but they
were for investment.

541
00:17:25,291 --> 00:17:30,968
And so the real concern for me
comes in that you have these Gen

542
00:17:30,868 --> 00:17:33,636
Zs and millennials that are
wanting to get into the market,

543
00:17:33,636 --> 00:17:36,594
don't necessarily want to live in
a studio or one bed, but those

544
00:17:36,594 --> 00:17:39,586
projects are being financed with
those products because they're

545
00:17:39,586 --> 00:17:43,803
being sold So the data is skewed
because investors were buying so

546
00:17:43,803 --> 00:17:44,261
many.

547
00:17:44,261 --> 00:17:49,580
So we start producing more of

548
00:17:49,453 --> 00:17:49,503
them.

549
00:17:49,463 --> 00:17:49,580
And that's not what the end user

550
00:17:49,549 --> 00:17:49,580
wants.

551
00:17:49,563 --> 00:17:53,371
Well, I guess, what does the end

552
00:17:53,371 --> 00:17:54,203
user want?
Then obviously everyone wants like

553
00:17:54,055 --> 00:17:54,710
a single family home that's
affordable.

554
00:17:54,637 --> 00:17:57,285
I think people just want a home in
general.

555
00:17:57,185 --> 00:17:58,184
The one beds I still believe are
relevant.

556
00:17:58,184 --> 00:18:01,545
And part of what we've struggled
with on council around the studios

557
00:18:01,545 --> 00:18:04,053
is do we limit the amount of those
units because they're smaller and

558
00:18:04,053 --> 00:18:05,893
they're like little mini hotel
rooms?

559
00:18:05,893 --> 00:18:09,740
Or do we give the people the
option to buy them if they want

560
00:18:09,640 --> 00:18:11,583
them?
So what we've been trying to do is

561
00:18:11,583 --> 00:18:13,458
work with the development
community to have a less percent

562
00:18:13,458 --> 00:18:15,859
in the buildings to see what the
uptick is.

563
00:18:15,959 --> 00:18:19,853
And the development community has
been very amiable to do that and

564
00:18:19,753 --> 00:18:21,371
really bringing more one bedrooms
online.

565
00:18:21,371 --> 00:18:24,419
So the changes to the speculation
tax, more so the flipping tax here

566
00:18:24,419 --> 00:18:26,673
in British Columbia, is really
meant to limit those people that

567
00:18:26,673 --> 00:18:29,915
are buying paper and then turning
around and selling them for a

568
00:18:29,915 --> 00:18:30,785
$50,000 profit.

569
00:18:30,785 --> 00:18:32,061
And frankly, I find it really

570
00:18:32,061 --> 00:18:34,556
stifling because those people are
holding product just to turn

571
00:18:34,556 --> 00:18:38,333
around and sell the paper and
whenever it closes, make that kind

572
00:18:38,333 --> 00:18:41,080
of money and it's just being
tacked on to the end user so i

573
00:18:41,080 --> 00:18:43,219
understand why the government's
doing that but on so isn't that

574
00:18:43,219 --> 00:18:46,140
those people they inject money
into the developers which they

575
00:18:46,140 --> 00:18:49,108
need to finish the projects which
lets them build more projects in

576
00:18:49,008 --> 00:18:51,949
the future so like those
properties the values are going up

577
00:18:51,949 --> 00:18:55,023
but is it the fault of the people
just buying them they're selling

578
00:18:55,023 --> 00:18:58,939
them later or is they we just need
the demand so what i would say is

579
00:18:58,939 --> 00:19:01,748
they're selling them later for an
increased value even though they

580
00:19:01,748 --> 00:19:06,768
haven't been lived in but those
people are the people originally

581
00:19:06,768 --> 00:19:09,320
putting their deposits in and
financing the developer so they're

582
00:19:09,320 --> 00:19:11,862
basically financing the developer
to get the project off the road

583
00:19:11,850 --> 00:19:14,280
and then when the end user comes
and buys it off them yes it's

584
00:19:14,320 --> 00:19:16,506
higher is it because of them or
are they riding away?

585
00:19:16,506 --> 00:19:20,418
That's going to happen anyway, you
know, but it's we should tell the

586
00:19:20,418 --> 00:19:22,947
bank to lend interest-free money
to build because got to make a

587
00:19:22,947 --> 00:19:23,937
profit down that.

588
00:19:23,937 --> 00:19:25,718
And yeah, there are some potential

589
00:19:25,718 --> 00:19:28,027
scenarios where like people don't
make so much money.

590
00:19:28,027 --> 00:19:31,837
I agree with you maybe 15 years
ago when people were putting like

591
00:19:31,837 --> 00:19:33,353
5% down and making a very large
margin.

592
00:19:33,353 --> 00:19:36,291
But now with most developments, I
mean, we're 10% with basically a

593
00:19:36,291 --> 00:19:39,234
deposit on time of signing and
usually like another 5% and 5%,

594
00:19:39,234 --> 00:19:41,728
like you're into it for 20% on a
$400,000 condo.

595
00:19:41,728 --> 00:19:43,837
People are really putting their
money out there.

596
00:19:43,837 --> 00:19:44,969
And yeah, I agree with Matt.

597
00:19:44,969 --> 00:19:47,352
I think it's the only way to

598
00:19:47,352 --> 00:19:50,240
really get these projects off the
ground.

599
00:19:50,440 --> 00:19:51,901
I guess what's the alternative
solution to Right.

600
00:19:51,901 --> 00:19:55,282
So again, if folks are buying them
for themselves, that's not an

601
00:19:55,282 --> 00:19:55,673
issue.

602
00:19:55,673 --> 00:19:57,850
And if you want to hold it for two

603
00:19:57,850 --> 00:20:01,647
years and then turn around and
sell it for a profit, you can

604
00:20:01,647 --> 00:20:03,018
still go ahead and do that.

605
00:20:03,018 --> 00:20:04,378
You just have to hold that product

606
00:20:04,378 --> 00:20:06,213
for two years and close on it.

607
00:20:06,213 --> 00:20:07,456
So that's still an option.

608
00:20:07,456 --> 00:20:08,820
What government is doing is
partnering with the development

609
00:20:08,820 --> 00:20:11,040
community through the new BC
builds program.

610
00:20:11,040 --> 00:20:13,661
And what they're doing is offering
lower interest financing so that

611
00:20:13,661 --> 00:20:15,183
those projects can get off the
ground.

612
00:20:15,183 --> 00:20:17,794
What we're doing in the city of
Kelowna through our housing

613
00:20:17,794 --> 00:20:19,750
accelerator fund through the
federal government is acquiring

614
00:20:19,750 --> 00:20:22,118
the land so that the city of
Kelowna can still own them and

615
00:20:22,118 --> 00:20:24,811
partner with different developers
that will build the building and

616
00:20:24,811 --> 00:20:25,888
then nonprofits will operate it.

617
00:20:25,888 --> 00:20:27,145
And that's more of the below

618
00:20:27,145 --> 00:20:27,863
market housing strategy.

619
00:20:27,863 --> 00:20:29,120
But government realizes that they

620
00:20:29,120 --> 00:20:31,959
need to also step up and help fund
developers even for market

621
00:20:31,959 --> 00:20:32,253
housing.

622
00:20:32,253 --> 00:20:34,863
And so that's the new BC builds

623
00:20:34,863 --> 00:20:36,752
program that has just come out.

624
00:20:36,752 --> 00:20:39,123
Because again, financing, we know

625
00:20:39,123 --> 00:20:39,928
that that's a barrier.

626
00:20:39,928 --> 00:20:41,055
And government does have to come

627
00:20:41,055 --> 00:20:42,021
to the table with that.

628
00:20:42,021 --> 00:20:43,081
Can you a bit about the

629
00:20:43,081 --> 00:20:44,239
accelerator fund?
Like super interested in that.

630
00:20:44,239 --> 00:20:46,705
Essentially, you guys got this
grant or Kelowna got this wish I

631
00:20:46,805 --> 00:20:50,157
got it personally it's 30 million
dollars yeah was it like months

632
00:20:50,157 --> 00:20:55,424
ago when did it so was it was
really cold I remember that so it

633
00:20:55,424 --> 00:21:00,288
was definitely the winter that was
12th it winter time I remember I

634
00:21:00,188 --> 00:21:03,754
was really really cold as soon as
the died, they like, you guys need

635
00:21:03,754 --> 00:21:03,889
some.

636
00:21:03,889 --> 00:21:06,038
So we were one not the first

637
00:21:05,938 --> 00:21:08,739
community in British Columbia to
receive this grant from the

638
00:21:08,739 --> 00:21:09,627
federal government.

639
00:21:09,627 --> 00:21:11,302
Because basically, in the words of

640
00:21:11,302 --> 00:21:15,297
Sean Fraser, the federal minister,
he said, I'm going to push on the

641
00:21:15,297 --> 00:21:15,796
door that's open.

642
00:21:15,796 --> 00:21:18,715
And when they looked at all of our

643
00:21:18,715 --> 00:21:20,549
housing policies in the city of
Kelowna, they saw how progressive

644
00:21:20,549 --> 00:21:23,283
they were and how we have removed
as many barriers as we could as a

645
00:21:23,283 --> 00:21:23,571
municipality.

646
00:21:23,571 --> 00:21:25,492
Federal government's role is to

647
00:21:25,392 --> 00:21:27,627
get as many homes built as quickly
as possible.

648
00:21:27,627 --> 00:21:29,839
So they're looking to
municipalities that can do that.

649
00:21:29,839 --> 00:21:32,109
So we were basically given just
over $30 million to basically dole

650
00:21:32,109 --> 00:21:32,822
out as we need to.

651
00:21:32,922 --> 00:21:33,832
They didn't put too many

652
00:21:33,832 --> 00:21:34,337
restrictions on it.

653
00:21:34,437 --> 00:21:35,146
Other municipalities are getting

654
00:21:35,146 --> 00:21:36,754
restrictions, like you must do
this with that money.

655
00:21:36,754 --> 00:21:39,087
Because we have so many different
housing initiatives within the

656
00:21:39,087 --> 00:21:42,889
city of Kelowna, whether that's
our housing reserve fund or it's

657
00:21:42,889 --> 00:21:43,650
our DCC grant program.

658
00:21:43,750 --> 00:21:45,935
They said, OK, you guys work on a

659
00:21:45,935 --> 00:21:46,370
plan.

660
00:21:46,370 --> 00:21:47,880
You work with a planner.

661
00:21:47,880 --> 00:21:49,428
Tell us how you're doing it.

662
00:21:49,428 --> 00:21:50,206
We obviously have reporting

663
00:21:50,206 --> 00:21:53,507
standards and agreements that we
have to report out on, but it'll

664
00:21:53,507 --> 00:21:55,100
be used for just yesterday.

665
00:21:55,100 --> 00:21:55,859
We've bolstered three million

666
00:21:55,859 --> 00:21:57,260
million to our DCC relief program.

667
00:21:57,260 --> 00:21:59,263
So that's the development cost

668
00:21:59,263 --> 00:22:01,795
charges that developers are having
to pay per unit.

669
00:22:01,795 --> 00:22:05,552
So this will be used to offset
those for projects that are making

670
00:22:05,452 --> 00:22:07,426
an effort to deliver more
affordable housing.

671
00:22:07,426 --> 00:22:08,802
We are using it to acquire land.

672
00:22:08,802 --> 00:22:10,870
So the City of Kelowna acquired

673
00:22:10,870 --> 00:22:11,728
land on Glenmore Road.

674
00:22:11,728 --> 00:22:13,321
That was the application that I

675
00:22:13,321 --> 00:22:15,181
spoke about yesterday that we
rezoned.

676
00:22:15,081 --> 00:22:17,499
And by holding the land, it's
future equity for the future

677
00:22:17,499 --> 00:22:17,919
residents of Kelowna.

678
00:22:17,919 --> 00:22:19,177
I'm a huge proponent of the city

679
00:22:19,168 --> 00:22:21,860
owning as much residential land as
we can, because then we control

680
00:22:21,860 --> 00:22:23,752
how it can be used for future
generations.

681
00:22:23,752 --> 00:22:26,388
And so with that model, we've
created a developer's framework

682
00:22:26,388 --> 00:22:29,864
that basically will be going out
to RFP to see what developers are

683
00:22:30,027 --> 00:22:32,726
interested to partner with
government to build the homes with

684
00:22:32,726 --> 00:22:37,025
up to 20% needing to be
affordable, which is the Housing

685
00:22:37,025 --> 00:22:38,048
Accelerator Fund's requirement.

686
00:22:38,048 --> 00:22:40,093
So they're still able to do market

687
00:22:40,093 --> 00:22:44,419
with it, but 20% have to be
affordable, which is under 20 or

688
00:22:44,419 --> 00:22:45,913
30% of median income.

689
00:22:45,913 --> 00:22:46,621
awesome.

690
00:22:46,621 --> 00:22:47,958
I do agree.

691
00:22:47,958 --> 00:22:50,475
20 or 30 percent of median income.

692
00:22:50,475 --> 00:22:52,229
Yeah, that's awesome.

693
00:22:52,129 --> 00:22:52,593
I do agree.

694
00:22:52,593 --> 00:22:55,066
Like I think Kelowna is doing such
a fantastic job at holding land,

695
00:22:55,052 --> 00:22:55,980
developing land, you know, park
space.

696
00:22:55,980 --> 00:22:57,371
So yeah, kudos to you guys.

697
00:22:57,371 --> 00:22:59,332
And like you said, like it is very

698
00:22:59,432 --> 00:23:02,178
innovative, like the technology
you guys have and the speed you're

699
00:23:02,178 --> 00:23:03,253
progressing in the planning
department.

700
00:23:03,253 --> 00:23:03,759
Yeah.

701
00:23:03,759 --> 00:23:06,852
So you guys are doing a lot of

702
00:23:06,852 --> 00:23:08,365
good things and glad it's being
recognized that a promotion.

703
00:23:08,365 --> 00:23:12,683
As a realtor, we, I work all over
the Okanagan thing, Vernon,

704
00:23:12,783 --> 00:23:13,599
Penticton, and beyond.

705
00:23:13,599 --> 00:23:17,261
And Kelowna is by far the easiest

706
00:23:17,261 --> 00:23:18,613
to work with.

707
00:23:18,613 --> 00:23:19,660
It's actually not even So it's

708
00:23:19,660 --> 00:23:20,184
been awesome.

709
00:23:20,184 --> 00:23:20,358
Yeah.

710
00:23:20,358 --> 00:23:24,465
I guess, what does Kelowna look
like in the next 10, 15 years in

711
00:23:24,465 --> 00:23:26,859
terms of where you would like to
see it?

712
00:23:26,859 --> 00:23:31,146
Not just in housing, but just like
where we go as a culture?

713
00:23:31,146 --> 00:23:34,737
Well, we're really at a turning
point as a city because I think

714
00:23:34,637 --> 00:23:36,401
like with business, I always have
the philosophy that managing an

715
00:23:36,392 --> 00:23:39,124
uptick in business is equally as
challenging as handling a downturn

716
00:23:39,124 --> 00:23:41,649
because you can grow too rapidly,
too quickly.

717
00:23:41,649 --> 00:23:43,804
And there's implications with
that, or there can be a downturn

718
00:23:43,804 --> 00:23:46,666
and there's implications with
that.

719
00:23:46,666 --> 00:23:48,758
And with a bigger city come bigger
city problems.

720
00:23:48,758 --> 00:23:51,908
And we're seeing that with the
social challenges here in Kelowna,

721
00:23:51,908 --> 00:23:55,147
which I mentioned And so we just
have to be really cognizant of And

722
00:23:55,147 --> 00:23:58,176
we're seeing that with the social
challenges here in Kelowna,

723
00:23:58,276 --> 00:23:58,866
earlier.

724
00:23:58,766 --> 00:24:00,783
which I mentioned And so we just

725
00:24:00,683 --> 00:24:02,950
have to be really cognizant of how
we're earlier.

726
00:24:02,950 --> 00:24:03,941
planning the city.

727
00:24:03,941 --> 00:24:05,515
And so that's with the new

728
00:24:05,515 --> 00:24:06,564
official community plan.

729
00:24:06,564 --> 00:24:08,021
You're seeing a real focus to

730
00:24:08,121 --> 00:24:09,923
build out the urban centers with
more density.

731
00:24:09,923 --> 00:24:12,045
And that's done very strategically
around the infrastructure that's

732
00:24:12,045 --> 00:24:14,284
needed to service those areas,
because we cannot just keep

733
00:24:14,384 --> 00:24:16,541
building out into the hillsides
and incurring additional taxation

734
00:24:16,541 --> 00:24:19,080
costs for snow removal,
maintenance, bus service, name it.

735
00:24:19,080 --> 00:24:22,029
The service demand doesn't
diminish depending where the

736
00:24:22,029 --> 00:24:22,920
housing is.

737
00:24:22,920 --> 00:24:24,223
So there's some shifts in how

738
00:24:24,223 --> 00:24:27,994
we're growing the city and people
will debate if those are

739
00:24:27,994 --> 00:24:29,023
appropriate policies or not.

740
00:24:29,023 --> 00:24:30,257
But basically 80% of our

741
00:24:30,257 --> 00:24:35,349
development right now are in our
urban centers and 20% is in the

742
00:24:35,349 --> 00:24:36,214
outlying areas currently.

743
00:24:36,214 --> 00:24:37,631
And again, that's to really

744
00:24:37,631 --> 00:24:40,859
maximize how we can build out our
infrastructure, which is we have

745
00:24:40,859 --> 00:24:42,040
quite a deficit.

746
00:24:42,976 --> 00:24:43,380
Yeah.

747
00:24:43,480 --> 00:24:46,362
I I guess is it supposed to just
support the local community here

748
00:24:46,462 --> 00:24:48,480
or are you trying to build it out
so more of a tourist city?

749
00:24:48,480 --> 00:24:50,482
Because I feel like, you know, in
the last 12 months, obviously,

750
00:24:50,582 --> 00:24:52,033
like circle back too much with
short term rental.

751
00:24:52,133 --> 00:24:55,407
Because I feel you like, in know,
the last 12 months, obviously,

752
00:24:55,407 --> 00:24:58,402
like circle back too much with
short term rental, but maybe like

753
00:24:58,302 --> 00:25:00,301
a lot of the small businesses that
are kind of built on tourism are

754
00:25:00,301 --> 00:25:01,429
penalized a Like bit.

755
00:25:01,529 --> 00:25:02,839
it's really difficult to have that

756
00:25:02,839 --> 00:25:10,454
fine balance, I guess, to make it
an affordable city or not.

757
00:25:10,454 --> 00:25:11,861
Ryan Smith, when he was on
actually coined a pretty good

758
00:25:11,799 --> 00:25:12,074
comment.

759
00:25:12,074 --> 00:25:13,243
It was like, you know, we're

760
00:25:13,243 --> 00:25:14,660
shooting ourself in the foot, like
we're our own worst enemy because

761
00:25:14,760 --> 00:25:17,160
we're making this beautiful city
that people want to flood to.

762
00:25:17,160 --> 00:25:18,996
But then we can't really make it
affordable.

763
00:25:18,896 --> 00:25:20,220
So I guess what are the
priorities?

764
00:25:20,220 --> 00:25:22,089
Is it homelessness?
Anything else that you're kind of

765
00:25:22,089 --> 00:25:24,330
passionate about that?
Like what's number one on the Oh

766
00:25:24,330 --> 00:25:27,300
gosh, it would be hard to pick one
thing.

767
00:25:27,300 --> 00:25:29,890
And when I meet with different
interest groups throughout

768
00:25:29,890 --> 00:25:32,628
Kelowna, everyone has kind of
their number one thing.

769
00:25:32,628 --> 00:25:36,552
And the thing about this job is
they overlap like a Venn diagram

770
00:25:36,552 --> 00:25:39,712
so much that we have to create
priorities that are quite broad.

771
00:25:39,712 --> 00:25:41,206
Obviously, we've talked a lot
about housing.

772
00:25:41,306 --> 00:25:43,211
Will Kelowna be a super, super
affordable town?

773
00:25:43,211 --> 00:25:45,040
I don't think we will get there.

774
00:25:45,002 --> 00:25:45,040
We have to keep supporting our

775
00:25:45,013 --> 00:25:45,040
most vulnerable and keep building
housing.

776
00:25:45,021 --> 00:25:45,040
But having apartments that are
$800 a month, I think would be

777
00:25:45,105 --> 00:25:49,414
challenging for any new stock.

778
00:25:49,370 --> 00:25:49,443
We've heard from the development

779
00:25:49,397 --> 00:25:49,480
community, development today is
the most costly it's ever been.

780
00:25:49,470 --> 00:25:55,175
So it's a reality that we have to
struggle with.

781
00:25:55,275 --> 00:25:56,633
And obviously, we can't build a
wall and stop people from moving

782
00:25:56,590 --> 00:25:56,810
here.

783
00:25:56,810 --> 00:25:57,796
It's a beautiful place to live.

784
00:25:57,722 --> 00:25:59,346
I a politician that pay them.

785
00:25:59,346 --> 00:26:01,358
So, you know, you build a

786
00:26:01,358 --> 00:26:01,846
world-class city.

787
00:26:01,846 --> 00:26:03,248
But what's an interesting paradigm

788
00:26:03,248 --> 00:26:07,420
shift right now, we heard from
Andrew Ramlow with Rennie earlier

789
00:26:07,420 --> 00:26:12,050
this year, is the Gen Z and
millennial populations are going

790
00:26:12,050 --> 00:26:15,176
to have a demographic paradigm
shift here in the next 10 years.

791
00:26:15,176 --> 00:26:17,821
And they're going to be
outweighing the baby boomers in

792
00:26:17,821 --> 00:26:19,726
terms of their demand.

793
00:26:19,726 --> 00:26:21,560
And so what we really have to

794
00:26:21,560 --> 00:26:24,181
focus on economically here in the
Okanagan are attracting those

795
00:26:24,181 --> 00:26:27,786
high-paying jobs so that those
folks can afford to stay here and

796
00:26:27,786 --> 00:26:28,647
live here.

797
00:26:28,647 --> 00:26:29,447
We've got world-class education,

798
00:26:29,447 --> 00:26:32,812
but I hear time and time again
that people graduate from UBCO or

799
00:26:33,156 --> 00:26:35,836
Okanagan College and they leave
town and go to another province

800
00:26:35,836 --> 00:26:38,173
because they can't afford to buy a
home here.

801
00:26:38,173 --> 00:26:40,487
And so as a city, we're
continually looking at what are

802
00:26:40,487 --> 00:26:41,097
our economic opportunities.

803
00:26:41,197 --> 00:26:42,875
We have seen a huge success with

804
00:26:42,775 --> 00:26:44,046
the largest employer in Kelowna
Flightcraft, KF.

805
00:26:44,046 --> 00:26:51,137
And so we are always looking at
like, how can we attract more

806
00:26:51,013 --> 00:26:51,905
investment to Kelowna?
We do have a confidential interest

807
00:26:51,782 --> 00:26:52,474
from another company that would
bring another 150 really high

808
00:26:52,474 --> 00:26:53,254
paying jobs, six figure salaries
here, if we can attract them.

809
00:26:53,243 --> 00:26:54,385
So there is a real opportunity for
the Okanagan to be attracting

810
00:26:54,261 --> 00:26:54,715
higher paying jobs.

811
00:26:54,569 --> 00:26:54,907
Because back to your point around

812
00:26:54,896 --> 00:26:56,327
tourism, aside from short term
rentals, where I'm really, really

813
00:26:56,327 --> 00:26:57,123
concerned is climate change.

814
00:26:57,120 --> 00:26:58,664
And we've seen that now with our

815
00:26:58,764 --> 00:27:00,545
ski hills and we've seen that with
our wineries.

816
00:27:00,538 --> 00:27:03,235
And those are two of the biggest
draws for two different seasons.

817
00:27:03,227 --> 00:27:05,908
The it feels like every season the
orchards and the wineries or the

818
00:27:05,908 --> 00:27:07,700
vineyards are finding there's some
weather event that's different

819
00:27:07,700 --> 00:27:09,324
than the last one.

820
00:27:09,324 --> 00:27:10,832
It just keeps on coming.

821
00:27:10,832 --> 00:27:13,253
And farmers are resilient and
they're used to weather being

822
00:27:13,253 --> 00:27:13,414
different.

823
00:27:13,682 --> 00:27:14,541
But what's changed is the

824
00:27:14,541 --> 00:27:15,661
intensity and how quickly it
changes.

825
00:27:15,561 --> 00:27:19,073
So that's what I've heard from
farmers is, you know, we can be

826
00:27:19,073 --> 00:27:22,416
prepared for this, but if all of a
sudden the cold snap comes

827
00:27:22,416 --> 00:27:25,484
tomorrow and it's the beginning of
October, that's not something

828
00:27:25,484 --> 00:27:26,360
we're used to.

829
00:27:26,360 --> 00:27:28,095
So I think climate impacts are

830
00:27:28,195 --> 00:27:32,337
going to continue to be a concern
economically here because we are

831
00:27:32,337 --> 00:27:35,434
so driven by our tourism industry,
which is most of the natural

832
00:27:35,534 --> 00:27:35,929
environment.

833
00:27:35,829 --> 00:27:37,535
So when we're looking to attract

834
00:27:37,535 --> 00:27:42,320
new investment, I do think we have
to be diverse in what we're Yeah.

835
00:27:42,420 --> 00:27:44,751
And you were very involved with
the fires last year, right?

836
00:27:44,651 --> 00:27:47,553
Like you were coordinating where
people went once they potentially

837
00:27:47,553 --> 00:27:48,226
lost their house.

838
00:27:48,226 --> 00:27:49,647
So you're on the regional district

839
00:27:49,647 --> 00:27:50,780
or you were, sorry.

840
00:27:50,780 --> 00:27:50,913
Yeah.

841
00:27:50,913 --> 00:27:53,728
Can you just walk us through the
position there and how you've

842
00:27:53,728 --> 00:27:55,118
transitioned, I guess?
all municipalities in British

843
00:27:55,115 --> 00:27:57,661
Columbia are part of regional
districts, which are unique to

844
00:27:57,661 --> 00:28:00,202
this province.

845
00:28:00,102 --> 00:28:01,797
Nowhere else in Canada has this

846
00:28:01,797 --> 00:28:05,260
model of basically being a cohort
of municipalities that come

847
00:28:05,160 --> 00:28:07,980
together to pool their resources
to offer services to their

848
00:28:07,980 --> 00:28:08,300
residents.

849
00:28:08,640 --> 00:28:10,783
And part of that program is the

850
00:28:10,783 --> 00:28:11,433
Emergency Operations Centre.

851
00:28:11,433 --> 00:28:13,901
And the reason for that is it's an

852
00:28:13,901 --> 00:28:14,290
overlapping jurisdiction.

853
00:28:14,290 --> 00:28:15,627
So all the partner municipalities

854
00:28:15,627 --> 00:28:17,910
and First Nation contribute
towards that function so that when

855
00:28:17,910 --> 00:28:21,853
there is an event like what we saw
last year with the McDougall Creek

856
00:28:21,853 --> 00:28:24,314
wildfire, we're resourced
appropriately to do that.

857
00:28:24,314 --> 00:28:27,168
So I'm an appointee from the City
of Kelowna to that board.

858
00:28:27,168 --> 00:28:30,762
And I've been the chair of that
board for the past three years.

859
00:28:30,762 --> 00:28:34,352
I just recently stepped down as
chair because of my provincial

860
00:28:34,352 --> 00:28:36,988
run, just so that I'm not
leveraging that position for

861
00:28:36,988 --> 00:28:37,490
personal benefit.

862
00:28:37,490 --> 00:28:38,383
But I led the communications

863
00:28:38,483 --> 00:28:39,108
through that fire last year.

864
00:28:39,208 --> 00:28:41,103
It was interesting because I was

865
00:28:41,103 --> 00:28:44,268
having a small barbecue at my
house when the fire started.

866
00:28:44,268 --> 00:28:47,281
The minister of emergency
management phoned me, Bowen Ma,

867
00:28:47,181 --> 00:28:49,289
and she's like, so we're getting
indications about this fire.

868
00:28:49,289 --> 00:28:51,818
And we had about an hour long
conversation and my friends that

869
00:28:51,818 --> 00:28:54,962
were over like, you know, should
we go home?

870
00:28:54,962 --> 00:28:57,632
Like, it's not going to jump the
lake, right?

871
00:28:57,632 --> 00:28:59,759
I'm like, oh, it never the You'll
be fine.

872
00:28:59,759 --> 00:29:03,075
So again, the intensity that we
saw with that fire, I was speaking

873
00:29:03,075 --> 00:29:06,923
to some of our fire chiefs and
they said, you know, on the front

874
00:29:07,023 --> 00:29:10,120
line, we've never seen a fire turn
into a tornado.

875
00:29:10,520 --> 00:29:11,961
The winds picked up, it turned
into a tornado.

876
00:29:11,961 --> 00:29:14,808
It ripped a pine tree out by the
roots and had it swirling around

877
00:29:14,808 --> 00:29:15,843
in this tornado of fire.

878
00:29:15,843 --> 00:29:18,084
And so that just speaks to the

879
00:29:18,084 --> 00:29:20,491
level of intensity that we're now
seeing in these annual events.

880
00:29:20,491 --> 00:29:22,296
We're no longer calling it fire
season.

881
00:29:22,296 --> 00:29:24,360
We're calling it hazard season
because it starts in June with

882
00:29:25,448 --> 00:29:25,644
floods.

883
00:29:25,644 --> 00:29:27,545
And then it progresses through

884
00:29:27,545 --> 00:29:29,780
heat domes, wildfires, and then
into recovery.

885
00:29:29,780 --> 00:29:32,452
So that's where I'm personally
really concerned about climate

886
00:29:32,452 --> 00:29:35,329
change and the impacts that it's
going to have here locally moving

887
00:29:35,429 --> 00:29:35,688
forward.

888
00:29:35,588 --> 00:29:35,692
Yeah.

889
00:29:35,692 --> 00:29:37,371
Well, it seems like you wear a lot
of hats.

890
00:29:37,371 --> 00:29:40,329
We should have started with this,
but how'd you get into politics?

891
00:29:40,329 --> 00:29:43,814
Like, I mean, really, you went
from a small business owner to,

892
00:29:43,814 --> 00:29:48,273
You know what I love about
business and I love about being an

893
00:29:48,273 --> 00:29:51,546
entrepreneur and business owner is
that you have to be a problem

894
00:29:51,546 --> 00:29:54,730
solver because you never know
what's going to fly at you today.

895
00:29:54,730 --> 00:29:57,337
Like people are like, oh, you're a
hairdresser and you're now a

896
00:29:57,337 --> 00:29:57,585
politician.

897
00:29:57,585 --> 00:30:00,132
And I'm like, well, I was a

898
00:30:00,132 --> 00:30:03,949
business owner because you never
know when a pipe is going to break

899
00:30:03,949 --> 00:30:07,441
or, you know, something's going to
flood or all your staff are going

900
00:30:07,441 --> 00:30:09,580
to quit or what have you.

901
00:30:09,620 --> 00:30:11,277
And so it just, it gives you a

902
00:30:11,277 --> 00:30:13,080
different insight to be nimble and
to adjust.

903
00:30:13,506 --> 00:30:15,758
And, you know, you can't
understate the professional staff

904
00:30:15,758 --> 00:30:17,551
that work in these organizations.

905
00:30:17,551 --> 00:30:19,132
As elected officials, we're very

906
00:30:19,132 --> 00:30:21,320
privileged to work alongside some
really brilliant people that

907
00:30:21,320 --> 00:30:22,872
provide us with expert advice.

908
00:30:22,872 --> 00:30:24,193
It's our job to obviously

909
00:30:24,193 --> 00:30:27,296
represent the voices of the people
that elect us and to hold

910
00:30:27,296 --> 00:30:27,814
government accountable.

911
00:30:27,814 --> 00:30:30,151
But I found it really interesting

912
00:30:30,151 --> 00:30:33,080
to understand the city from 360
because it's really easy to sit

913
00:30:33,080 --> 00:30:37,057
back and say, oh, you know, I
would have engineered that light

914
00:30:37,057 --> 00:30:38,840
system differently or I would have
built that park differently.

915
00:30:38,840 --> 00:30:42,400
But it's really cool to see the
city from 360 and all of the

916
00:30:43,100 --> 00:30:44,559
nuances where this all has to work
together.

917
00:30:44,559 --> 00:30:46,072
Because again, it's not just one
single priority.

918
00:30:46,072 --> 00:30:47,315
Everything is an ecosystem in a
city.

919
00:30:47,315 --> 00:30:49,134
So that's probably what I find the
most interesting.

920
00:30:49,134 --> 00:30:51,563
But being a small business owner
and entrepreneur really helped me

921
00:30:51,563 --> 00:30:52,700
understand that from a diverse
perspective.

922
00:30:52,700 --> 00:30:52,988
Yeah.

923
00:30:52,988 --> 00:30:55,648
Hey, I just want to circle back to

924
00:30:55,648 --> 00:30:57,733
housing for a second.

925
00:30:57,733 --> 00:30:58,380
Surprise, surprise.

926
00:30:58,660 --> 00:30:59,825
Kelowna Real Estate Podcast.

927
00:30:59,825 --> 00:31:01,143
what is the goal like with yours

928
00:31:01,143 --> 00:31:04,216
or the NDP?
Is the goal with the real estate

929
00:31:04,216 --> 00:31:08,206
prices to lower the prices or is
it to flatline them or like just

930
00:31:08,206 --> 00:31:09,360
slow the rate and what they're
growing?

931
00:31:09,360 --> 00:31:11,574
Like what is the goal?
What are all these policies geared

932
00:31:11,561 --> 00:31:13,060
So quite simply is to build more
homes faster.

933
00:31:13,220 --> 00:31:13,514
Yeah.

934
00:31:13,414 --> 00:31:14,119
policies geared towards?

935
00:31:14,119 --> 00:31:16,041
So quite simply is to build more
homes faster.

936
00:31:15,941 --> 00:31:16,058
Yeah.

937
00:31:16,058 --> 00:31:20,292
And a lot of people have come at

938
00:31:20,292 --> 00:31:23,406
me about, you know, well, if I put
my Airbnb on the rental market,

939
00:31:23,406 --> 00:31:25,047
it's not going to be affordable.

940
00:31:24,947 --> 00:31:25,545
Probably not.

941
00:31:25,445 --> 00:31:28,122
But what we're looking for are to
bring more homes online for people

942
00:31:28,122 --> 00:31:29,829
to live in faster.

943
00:31:29,929 --> 00:31:31,410
If we hit a vacancy rate, that's

944
00:31:31,410 --> 00:31:32,686
more than over 1%.

945
00:31:32,686 --> 00:31:34,047
That conversation can change like

946
00:31:34,047 --> 00:31:36,770
to underscore the short-term
rental legislation only affects

947
00:31:36,770 --> 00:31:38,982
municipalities that have a vacancy
rate less than 3%.

948
00:31:38,982 --> 00:31:43,045
So since I joined council, my goal
has been to see it over 3% in

949
00:31:43,045 --> 00:31:43,827
terms of vacancy.

950
00:31:43,827 --> 00:31:45,120
And we've never gotten there.

951
00:31:45,120 --> 00:31:48,163
And we've seen the past five years
with the highest building values

952
00:31:48,163 --> 00:31:51,355
in Kelowna's history, cresting
over a billion dollars.

953
00:31:51,355 --> 00:31:56,022
So it's disheartening for me to
have run in 2018 to think that

954
00:31:56,022 --> 00:31:57,276
we're going to raise that vacancy
rate.

955
00:31:57,273 --> 00:32:00,456
And I think the last stat I saw
was just over 1%.

956
00:32:00,453 --> 00:32:01,320
So it's really to see that above
3%.

957
00:32:01,400 --> 00:32:03,100
West Kelowna was able to opt out
of that legislation because they

958
00:32:03,060 --> 00:32:04,711
were able to demonstrate the 3%.

959
00:32:04,711 --> 00:32:07,322
I have my own thoughts on that.

960
00:32:07,740 --> 00:32:09,572
That's our main goal is to see
that vacancy rate raise.

961
00:32:09,569 --> 00:32:12,705
I don't want to hear about
students sleeping in their cars or

962
00:32:12,705 --> 00:32:14,109
being evicted from their homes.

963
00:32:14,109 --> 00:32:16,606
But that would be the goal is

964
00:32:16,606 --> 00:32:17,520
building more homes faster.

965
00:32:17,720 --> 00:32:19,134
I always think about this, like

966
00:32:19,134 --> 00:32:21,818
lowering the prices is basically,
I feel like when you're adding

967
00:32:21,817 --> 00:32:22,908
just endless rental properties,
like purpose-built rentals and

968
00:32:22,908 --> 00:32:25,328
stuff like that, you feel like the
goal should be to get more renters

969
00:32:25,228 --> 00:32:27,710
to be homeowners, right?
Like basically renters into And

970
00:32:27,710 --> 00:32:27,911
owners.

971
00:32:27,911 --> 00:32:29,320
I feel like buying purpose should

972
00:32:29,420 --> 00:32:31,015
be to get more renters to be
homeowners, right?

973
00:32:31,015 --> 00:32:32,254
Like basically renters into
owners.

974
00:32:32,254 --> 00:32:34,340
And I feel like buying
purpose-built rentals, does that

975
00:32:34,440 --> 00:32:38,373
really check that box in that?
So it's a real North American

976
00:32:38,273 --> 00:32:40,526
mindset that everyone has to be an
owner.

977
00:32:40,526 --> 00:32:44,713
If you speak to folks in Europe
and the UK, many folks choose to

978
00:32:44,713 --> 00:32:45,847
rent their whole lives.

979
00:32:45,847 --> 00:32:48,047
And so while I'm a homeowner and

980
00:32:48,047 --> 00:32:51,686
I've been able to realize that, I
realize that not every person is

981
00:32:51,686 --> 00:32:54,840
going to have the capital to
necessarily purchase a home.

982
00:32:54,840 --> 00:32:56,168
And that's the incentive of rental
tenure only.

983
00:32:56,155 --> 00:32:57,925
What's interesting is these REITs
that have been buying at

984
00:32:57,925 --> 00:32:59,504
purpose-built rental buildings
actually aren't interested in

985
00:32:59,504 --> 00:33:00,353
buying them anymore.

986
00:33:00,453 --> 00:33:02,247
And so they're now approaching

987
00:33:02,247 --> 00:33:04,191
government to say, hey, do you
want to buy this purpose-built

988
00:33:04,191 --> 00:33:05,916
rental building?
And government has been absent in

989
00:33:06,015 --> 00:33:09,648
the housing market for decades,
since the 90s, which this has just

990
00:33:09,648 --> 00:33:10,941
been building to that point.

991
00:33:10,841 --> 00:33:12,259
If there had been proactive

992
00:33:12,259 --> 00:33:15,586
approaches up until now to have
publicly funded housing for folks

993
00:33:15,586 --> 00:33:20,000
that need it, I would argue that
we probably wouldn't be in the

994
00:33:20,500 --> 00:33:21,020
state that we're in.

995
00:33:21,007 --> 00:33:22,127
This has just been building and

996
00:33:22,127 --> 00:33:23,350
building and building.

997
00:33:23,250 --> 00:33:28,840
And as I spoke to earlier, with a

998
00:33:28,840 --> 00:33:31,858
demographic that is now going to
eclipse the baby boomers that

999
00:33:31,858 --> 00:33:34,399
can't afford housing, we have to
get them into something first.

1000
00:33:34,399 --> 00:33:36,568
So that is why there's such a
focus on rental tenure.

1001
00:33:36,568 --> 00:33:39,690
And it's also more of an inventory
that can be controlled in terms of

1002
00:33:39,690 --> 00:33:43,672
not who's living there, but what
rates are being charged and how

1003
00:33:43,672 --> 00:33:46,739
governments can incentivize it.

1004
00:33:46,704 --> 00:33:47,836
I mean, I was going to say not to

1005
00:33:47,873 --> 00:33:49,390
put you on the spot, but I'll put
you on the spot a little bit.

1006
00:33:49,327 --> 00:33:50,625
Do you know how many units, and
you can kind of be vague, but like

1007
00:33:50,625 --> 00:33:53,698
purpose-built rentals in the next
two or three years?

1008
00:33:53,698 --> 00:33:56,997
Because it seems like everywhere I
drive, and I've had a few coffee

1009
00:33:57,097 --> 00:34:00,060
meetings with some very large
developers who are building these,

1010
00:34:00,060 --> 00:34:03,366
like 2,500, 3,000, like there
seems like an abundant amount

1011
00:34:03,366 --> 00:34:04,944
coming on the market.

1012
00:34:04,944 --> 00:34:07,472
I mean, obviously Kelowna is

1013
00:34:07,472 --> 00:34:09,802
planning, but like how involved
are you when you're permitting

1014
00:34:09,802 --> 00:34:11,239
these saying, okay, guys, enough's
enough?

1015
00:34:11,239 --> 00:34:13,964
Or are you just watching the
vacancy rate being like, just open

1016
00:34:13,864 --> 00:34:15,735
the floodgates and just keep
building?

1017
00:34:15,636 --> 00:34:17,949
back to your capitalist comment
earlier, the market is really

1018
00:34:17,949 --> 00:34:21,262
going to decide what kind of
inventory is being built.

1019
00:34:21,262 --> 00:34:24,181
what kind of inventory is being I
built.

1020
00:34:24,181 --> 00:34:26,681
was to say it because right now
it's harder to sell them.

1021
00:34:26,681 --> 00:34:29,380
I was going to say it because
right now it's to And we just

1022
00:34:29,380 --> 00:34:32,467
heard from Ryan Smith yesterday
with our Q1 development results is

1023
00:34:32,568 --> 00:34:35,915
that over the next two years,
we're likely to see a higher

1024
00:34:35,915 --> 00:34:38,120
investment into purpose-built
rental because the performers are

1025
00:34:38,219 --> 00:34:39,380
just performing better than the
condo market.

1026
00:34:39,380 --> 00:34:44,154
And it's more of a guaranteed
income for the developer because

1027
00:34:44,154 --> 00:34:47,114
they know that they can rent those
units for X amount.

1028
00:34:47,114 --> 00:34:50,422
They know the vacancy is this and
they know what their financing can

1029
00:34:50,422 --> 00:34:50,683
be.

1030
00:34:50,683 --> 00:34:51,668
And then there's also stacked

1031
00:34:51,668 --> 00:34:54,554
incentives that we offer with the
city for density and parking

1032
00:34:54,554 --> 00:34:57,063
reductions, et cetera, that they
can use for that purpose.

1033
00:34:57,063 --> 00:34:59,000
So we are tracking it.

1034
00:34:59,080 --> 00:35:00,279
We have quite an amazing and

1035
00:35:00,204 --> 00:35:01,780
award-winning software system that
our department has developed in

1036
00:35:01,780 --> 00:35:02,763
order to be tracking these
barometers.

1037
00:35:02,763 --> 00:35:04,639
But again, the market is really
going to speak to us and tell us

1038
00:35:04,523 --> 00:35:04,754
what they're needing.

1039
00:35:04,732 --> 00:35:05,005
Andrew Ramlow spoke earlier this

1040
00:35:04,983 --> 00:35:06,152
year that British Columbia needs
to build about 900,000 homes in

1041
00:35:06,152 --> 00:35:07,990
the next 20 years.

1042
00:35:08,090 --> 00:35:10,099
And so with that, the sector

1043
00:35:10,099 --> 00:35:11,423
doesn't even have capacity.

1044
00:35:11,423 --> 00:35:14,364
Like I was going to say, is that

1045
00:35:14,364 --> 00:35:16,933
even like Like the sector doesn't
have workers to be building that

1046
00:35:16,933 --> 00:35:17,876
amount of units.

1047
00:35:17,976 --> 00:35:19,763
So that's our forecast based on

1048
00:35:19,763 --> 00:35:20,155
population.

1049
00:35:20,155 --> 00:35:23,325
And so there has to be bold moves

1050
00:35:23,325 --> 00:35:25,973
for urgent action in order to be
making housing more available

1051
00:35:25,973 --> 00:35:26,490
moving forward.

1052
00:35:26,490 --> 00:35:27,717
So we are tracking it.

1053
00:35:27,717 --> 00:35:31,748
And I know it's been argued around
the table, are we building too

1054
00:35:31,748 --> 00:35:34,715
much rental?
And I'm always saying, no, we've

1055
00:35:34,715 --> 00:35:35,367
built enough.

1056
00:35:35,367 --> 00:35:36,983
But I think the development

1057
00:35:36,983 --> 00:35:39,840
community will speak to us if it
starts to tip the other direction.

1058
00:35:39,840 --> 00:35:39,955
Yeah.

1059
00:35:39,955 --> 00:35:41,217
I mean, it doesn't seem like

1060
00:35:41,217 --> 00:35:43,283
you're a guy to point the finger
and blame people.

1061
00:35:43,283 --> 00:35:47,513
Obviously we could look back and
say, you know, hindsight 10 years

1062
00:35:47,513 --> 00:35:50,144
ago, wow, we should have started
to build more.

1063
00:35:50,144 --> 00:35:54,150
But, you know, we've spoken about
this on the show before there's

1064
00:35:54,150 --> 00:35:56,804
been like a massive influx of
population growth in Canada.

1065
00:35:56,804 --> 00:35:59,331
So yeah, I guess it doesn't sound
like you're in that position where

1066
00:35:59,331 --> 00:36:01,097
you're saying there was an error
10, 15 years ago.

1067
00:36:01,097 --> 00:36:02,345
It's like, hey, let's deal with
the issue.

1068
00:36:02,338 --> 00:36:03,625
Don't get me wrong.

1069
00:36:03,625 --> 00:36:05,216
I think there was definitely an

1070
00:36:05,216 --> 00:36:06,869
error over the past two decades.

1071
00:36:06,869 --> 00:36:08,521
And I think it's touched every

1072
00:36:08,521 --> 00:36:10,213
single political party that has
governed.

1073
00:36:10,113 --> 00:36:13,173
So I'm not going to point at one
single leader or one single party.

1074
00:36:13,173 --> 00:36:16,172
It was an exit from government in
the housing industry and just left

1075
00:36:16,172 --> 00:36:17,580
it to the private sector.

1076
00:36:17,580 --> 00:36:19,049
And, you know, they're business

1077
00:36:19,049 --> 00:36:19,233
people.

1078
00:36:19,233 --> 00:36:21,191
They're going to make money how

1079
00:36:21,291 --> 00:36:22,660
they need to in their business
model.

1080
00:36:22,660 --> 00:36:24,046
And so I don't blame anyone for
it.

1081
00:36:23,946 --> 00:36:26,272
But I think it's just important
that we understand how we got here

1082
00:36:26,272 --> 00:36:27,496
because it didn't just happen
overnight.

1083
00:36:27,496 --> 00:36:30,657
This has just been a slow boil
over time that's led to this

1084
00:36:30,657 --> 00:36:30,889
point.

1085
00:36:30,889 --> 00:36:32,630
And it's the same as mental health

1086
00:36:32,630 --> 00:36:35,086
and substance use with services
that haven't been built over the

1087
00:36:35,086 --> 00:36:36,610
past 20 to 30 years.

1088
00:36:36,610 --> 00:36:39,437
So government has had to now enter

1089
00:36:39,437 --> 00:36:42,526
that realm again and start
investing into government funded

1090
00:36:42,526 --> 00:36:43,005
housing.

1091
00:36:43,005 --> 00:36:45,323
And then over time, it's going to

1092
00:36:45,323 --> 00:36:46,030
take time.

1093
00:36:45,930 --> 00:36:47,475
We didn't get here in seven years.

1094
00:36:47,475 --> 00:36:48,634
It's been decades.

1095
00:36:48,634 --> 00:36:51,007
We will start to realize those

1096
00:36:51,007 --> 00:36:51,167
results.

1097
00:36:51,167 --> 00:36:52,716
And it's the same with this

1098
00:36:52,716 --> 00:36:53,350
housing legislation.

1099
00:36:53,250 --> 00:36:54,532
I've heard from developers that

1100
00:36:54,532 --> 00:36:57,964
are actually really singing the
praises about it because it's

1101
00:36:57,864 --> 00:37:01,256
getting government out of the way
so that they can do their jobs to

1102
00:37:01,256 --> 00:37:01,780
build homes.

1103
00:37:01,610 --> 00:37:01,773
Because again, they're investors

1104
00:37:01,738 --> 00:37:03,498
and they want a guaranteed outcome
if they're coming forward with an

1105
00:37:03,497 --> 00:37:04,594
application that is compliant with
official community plan.

1106
00:37:04,461 --> 00:37:04,942
And if they're playing Russian
roulette with different elected

1107
00:37:10,040 --> 00:37:10,857
officials, depending on the
sentiment of a neighborhood, it

1108
00:37:10,857 --> 00:37:11,965
becomes very difficult to invest a
million dollars into planning when

1109
00:37:11,856 --> 00:37:12,854
they don't know the outcome.

1110
00:37:12,854 --> 00:37:13,037
Yeah.

1111
00:37:13,037 --> 00:37:18,213
think a lot of the policies are
going to be super popular and also

1112
00:37:18,213 --> 00:37:19,904
adopted probably right across the
country.

1113
00:37:19,904 --> 00:37:22,579
Even the short-term results, I
think it's probably going to be

1114
00:37:22,579 --> 00:37:24,960
some kind of policy right across,
much to Taylor and all snitching.

1115
00:37:24,960 --> 00:37:27,501
Well, I think with any
legislation, it has to be realized

1116
00:37:27,501 --> 00:37:29,260
that this isn't like written in
stone.

1117
00:37:29,260 --> 00:37:31,117
It's not the 10 commandments.

1118
00:37:31,117 --> 00:37:32,161
Legislation changes over time and

1119
00:37:32,161 --> 00:37:34,974
it adapts based on what's needed
in public.

1120
00:37:34,874 --> 00:37:37,566
And again, this is in response to
that urgent need.

1121
00:37:37,566 --> 00:37:41,712
And the premier had, you know, he
was elected premier about 18

1122
00:37:41,712 --> 00:37:43,199
months before this next election.

1123
00:37:43,199 --> 00:37:45,131
And so the government does need to

1124
00:37:45,231 --> 00:37:47,911
make urgent changes to realize
positive results in communities.

1125
00:37:47,911 --> 00:37:48,044
Nice.

1126
00:37:48,044 --> 00:37:48,507
All right.

1127
00:37:48,507 --> 00:37:51,073
So, Loyal, like, over the
pandemic, we had this crazy spike

1128
00:37:51,073 --> 00:37:51,617
in immigration.

1129
00:37:51,614 --> 00:37:53,088
And, like, I talked about this

1130
00:37:53,088 --> 00:37:56,460
before on the show, but, like,
Taylor and I can't figure out, was

1131
00:37:56,560 --> 00:38:00,440
there, like, a lobbyist group or
is there some people asking for

1132
00:38:00,440 --> 00:38:03,218
this level of immigration?
Like, we just can't figure out why

1133
00:38:03,218 --> 00:38:04,790
it spiked so high in the way it
did.

1134
00:38:04,790 --> 00:38:07,054
It just didn't really make any
Yeah.

1135
00:38:07,054 --> 00:38:09,217
So, I'm not in the federal
government's head.

1136
00:38:09,217 --> 00:38:12,245
I did attend a luncheon earlier
this year, and they were asking

1137
00:38:12,245 --> 00:38:16,257
that of the immigration minister,
like, how did this happen?

1138
00:38:16,257 --> 00:38:17,852
What are the targets?
And they basically didn't have an

1139
00:38:17,952 --> 00:38:18,182
answer.

1140
00:38:18,082 --> 00:38:18,697
And that's concerning because,

1141
00:38:18,697 --> 00:38:21,096
again, like we spoke about
earlier, all of these policies

1142
00:38:21,096 --> 00:38:22,930
really have to work in tandem.

1143
00:38:22,930 --> 00:38:24,192
So if you're inviting a certain

1144
00:38:24,192 --> 00:38:26,874
amount of folks into our country,
you need to make sure that they're

1145
00:38:26,874 --> 00:38:27,663
being accommodated with housing.

1146
00:38:27,663 --> 00:38:29,095
you need to make sure that they're

1147
00:38:29,195 --> 00:38:30,358
being accommodated with housing.

1148
00:38:30,358 --> 00:38:32,116
And we've seen the city of for

1149
00:38:32,116 --> 00:38:33,967
starting to push back and saying,
Toronto, example, federal OK,

1150
00:38:33,967 --> 00:38:36,077
well, you've invited government,
all these people to our city that

1151
00:38:36,077 --> 00:38:38,566
are now living on the street with
nowhere to go.

1152
00:38:38,566 --> 00:38:42,001
We're going to create a Canada tax
locally to pay for the housing

1153
00:38:42,001 --> 00:38:43,633
that we need to house these
people.

1154
00:38:43,633 --> 00:38:45,940
So that's why it's so important
for these policies to really

1155
00:38:46,020 --> 00:38:46,220
align.

1156
00:38:46,282 --> 00:38:47,720
And I think some people if you're

1157
00:38:47,880 --> 00:38:48,300
questioning you're being racist.

1158
00:38:48,380 --> 00:38:50,038
say, oh, immigration, And I don't

1159
00:38:50,038 --> 00:38:51,250
think that that's the point.

1160
00:38:51,250 --> 00:38:52,288
It's just simply numbers.

1161
00:38:52,288 --> 00:38:55,978
It's to say, if you're inviting
these folks in, we need to make

1162
00:38:55,978 --> 00:38:57,179
sure that they're taken care of.

1163
00:38:57,179 --> 00:38:59,202
We need to make sure that we have

1164
00:38:59,202 --> 00:39:02,244
the services to support them and
that we're planning for them to be

1165
00:39:02,244 --> 00:39:03,951
able to get around, for example.

1166
00:39:03,831 --> 00:39:05,578
And I know that there's been a

1167
00:39:05,572 --> 00:39:07,169
lobby out of Vancouver with
TransLink that needs additional

1168
00:39:07,169 --> 00:39:09,228
funding because they've seen their
ridership increase so much because

1169
00:39:09,128 --> 00:39:10,080
of new residents moving there.

1170
00:39:10,080 --> 00:39:11,965
So that's why it's so important to

1171
00:39:11,965 --> 00:39:15,104
have a collaborative relationship
and ensure that the policies are

1172
00:39:15,104 --> 00:39:15,377
aligning.

1173
00:39:15,377 --> 00:39:16,537
it just seems with the

1174
00:39:16,537 --> 00:39:19,147
immigration, it got so high and
nobody can figure out why, like

1175
00:39:19,147 --> 00:39:22,561
not even the federal government,
they're just like, well, this kind

1176
00:39:22,561 --> 00:39:25,804
of got out of hand now, it?
now we're going to put some limits

1177
00:39:25,804 --> 00:39:26,380
on it.

1178
00:39:26,380 --> 00:39:27,964
Like it was like, what?

1179
00:39:27,964 --> 00:39:32,323
Like everyone saw there was like a
slow moving train And now that

1180
00:39:32,323 --> 00:39:32,523
coming.

1181
00:39:32,621 --> 00:39:33,607
like you have spiked everyone saw

1182
00:39:33,607 --> 00:39:35,824
there was like a slow moving train
coming.

1183
00:39:35,824 --> 00:39:38,253
And now that like you have spiked
housing like everyone's mortgages

1184
00:39:38,253 --> 00:39:38,847
are high.

1185
00:39:38,947 --> 00:39:40,866
prices, And then you have raised

1186
00:39:40,861 --> 00:39:41,400
interest rates.

1187
00:39:41,400 --> 00:39:43,412
And then you look back and why did

1188
00:39:43,408 --> 00:39:45,555
we get here?
think, All the thinkers are we had

1189
00:39:45,555 --> 00:39:46,557
like, such well, high immigration.

1190
00:39:46,557 --> 00:39:48,940
It's why did we have immigration?

1191
00:39:48,940 --> 00:39:50,452
like, well, No one seems to know.

1192
00:39:50,452 --> 00:39:51,720
So it's kind of funny.

1193
00:39:51,720 --> 00:39:54,097
And there have been benefits with
immigration.

1194
00:39:54,097 --> 00:39:55,724
We know we need workers.

1195
00:39:55,724 --> 00:39:58,714
We know that we need folks in

1196
00:39:58,614 --> 00:39:59,196
those jobs.

1197
00:39:59,196 --> 00:40:00,848
But again, that's why it's so

1198
00:40:00,848 --> 00:40:05,804
important to be doing this
planning to be like okay if these

1199
00:40:05,804 --> 00:40:07,900
people are coming here where
they're going to live where

1200
00:40:07,900 --> 00:40:10,281
they're going to go school where
they where they're going to go get

1201
00:40:10,281 --> 00:40:14,400
health care which is a whole other
podcast that we could do is on

1202
00:40:14,400 --> 00:40:17,258
health but that's Kelowna yeah so
again like when you asked earlier

1203
00:40:17,258 --> 00:40:21,134
what's the number one priority or
you know what's the city's going

1204
00:40:21,134 --> 00:40:23,740
to do about one certain thing?
It's hard to identify that because

1205
00:40:23,860 --> 00:40:24,647
everything is so interconnected.

1206
00:40:24,747 --> 00:40:27,203
Again, it's an ecosystem and

1207
00:40:27,203 --> 00:40:30,684
that's the purpose of government
is to serve as best we can.

1208
00:40:30,584 --> 00:40:32,999
as well, like constantly being in
these planning meetings when

1209
00:40:32,999 --> 00:40:34,609
everything right now seems kind of
doomsday.

1210
00:40:34,609 --> 00:40:35,736
Like, it's great.

1211
00:40:35,736 --> 00:40:37,496
We live in this amazing place.

1212
00:40:37,596 --> 00:40:41,586
And, but at the end of the day,
like the problems you guys are

1213
00:40:41,586 --> 00:40:43,865
facing, do they just seem
achievable?

1214
00:40:43,765 --> 00:40:45,496
Like, do you guys feel pretty
confident?

1215
00:40:45,496 --> 00:40:49,318
have to say that no one gets into
this work for the paycheck or

1216
00:40:49,318 --> 00:40:50,446
because you're really
self-interested for your own

1217
00:40:50,446 --> 00:40:50,646
self-benefit.

1218
00:40:50,611 --> 00:40:51,333
It's truly community service and

1219
00:40:51,333 --> 00:40:53,161
it's an honor to serve when we
can.

1220
00:40:53,161 --> 00:40:55,327
So it is disheartening when you're
proactively working on policies

1221
00:40:55,327 --> 00:40:58,029
and housing and all of this, and
it seems to be getting worse, but

1222
00:40:58,029 --> 00:40:59,888
we have to realize that it takes
time for those results to be

1223
00:41:00,280 --> 00:41:00,580
realized.

1224
00:41:00,740 --> 00:41:01,679
But it's really staying focused at

1225
00:41:01,679 --> 00:41:05,791
that 30,000 foot level of where we
want to go as a city and making

1226
00:41:05,791 --> 00:41:09,521
sure that we have the right people
on the bus to steer us in that

1227
00:41:09,521 --> 00:41:11,900
direction, ensuring that all of
the different aspects are being

1228
00:41:11,900 --> 00:41:14,657
considered when we're pulling one
lever, because it always has

1229
00:41:14,657 --> 00:41:15,035
another effect.

1230
00:41:15,035 --> 00:41:16,333
So it can be disheartening,

1231
00:41:16,333 --> 00:41:18,225
especially around homelessness and
crime and safety, for example,

1232
00:41:18,225 --> 00:41:20,225
because it sometimes doesn't feel
like you're moving the barometer,

1233
00:41:20,225 --> 00:41:22,870
but then you'll see little
glimmers of results that are

1234
00:41:22,848 --> 00:41:22,936
actually positive.

1235
00:41:22,905 --> 00:41:23,360
And so you just have to stay

1236
00:41:23,284 --> 00:41:27,278
focused on those and committed to
the work.

1237
00:41:27,243 --> 00:41:31,870
But that's the thing I love about
local government is that you

1238
00:41:31,834 --> 00:41:32,200
really learn it from the ground up
and from a grassroots level.

1239
00:41:32,022 --> 00:41:32,085
Yeah, awesome.

1240
00:41:32,049 --> 00:41:32,200
we just need to more people to

1241
00:41:32,186 --> 00:41:32,200
vote.

1242
00:41:37,180 --> 00:41:37,328
Yeah, you know, like 30% is quite

1243
00:41:37,289 --> 00:41:37,489
low.

1244
00:41:37,317 --> 00:41:37,500
60% provincially is much better.

1245
00:41:37,387 --> 00:41:37,500
Yeah.

1246
00:41:37,402 --> 00:41:37,500
But yeah, it's interesting that

1247
00:41:37,473 --> 00:41:40,980
folks don't necessarily is a draw
i beat all the time i don't

1248
00:41:40,939 --> 00:41:44,880
understand why like you don't vote
in the election but then the

1249
00:41:44,871 --> 00:41:46,727
projects come up and you're there
with ticket this crazy you know

1250
00:41:46,827 --> 00:41:50,255
like the election is going to be
complete 19th so yeah get ready

1251
00:41:50,255 --> 00:41:52,754
get up and vote yeah and i need
another job so it all it all

1252
00:41:52,742 --> 00:41:55,110
depends how that goes go into our
wrap-up questions here well if you

1253
00:41:55,110 --> 00:41:57,069
could buy And I might need another
So it all job.

1254
00:41:57,069 --> 00:41:58,336
depends how that goes.

1255
00:41:58,336 --> 00:42:00,027
you got Oh, no, I think you it.

1256
00:42:00,027 --> 00:42:00,669
got it.

1257
00:42:00,669 --> 00:42:03,360
Okay, going to go into our wrap-up

1258
00:42:03,360 --> 00:42:04,004
questions here.

1259
00:42:04,004 --> 00:42:06,173
If you could buy one property in

1260
00:42:06,173 --> 00:42:08,575
Okanagan in the next 12 months,
what would it be?

1261
00:42:08,575 --> 00:42:12,130
Oh, man, I'm so comfortable where
I live with my husband Ian right

1262
00:42:12,230 --> 00:42:12,690
now.

1263
00:42:12,794 --> 00:42:14,347
I can't see myself buying another

1264
00:42:14,247 --> 00:42:14,767
property in 12 months.

1265
00:42:14,750 --> 00:42:16,095
I think my dream would be a

1266
00:42:16,078 --> 00:42:18,285
recreation property, but that
wouldn't hit that 12-month window.

1267
00:42:18,285 --> 00:42:20,198
But it's hard to get away from my
So I do device.

1268
00:42:20,198 --> 00:42:22,364
appreciate when I can get out into
the woods to a recreation but

1269
00:42:22,264 --> 00:42:23,885
property, that wouldn't hit that
12-month But it's window.

1270
00:42:23,884 --> 00:42:25,090
hard to get away from my device,
so I do appreciate when I can get

1271
00:42:24,920 --> 00:42:25,100
out into the woods to a recreation
property.

1272
00:42:29,360 --> 00:42:29,460
So that would probably be the
ultimate goal.

1273
00:42:29,398 --> 00:42:29,460
Nice.

1274
00:42:29,417 --> 00:42:29,460
If you could give your 20-year-old

1275
00:42:31,300 --> 00:42:33,560
self one piece of advice, what
would it I think it would be to

1276
00:42:33,535 --> 00:42:33,580
normalize mental health care and
maintenance.

1277
00:42:33,619 --> 00:42:35,800
I never really realized what a
journey mental health is, and I

1278
00:42:35,703 --> 00:42:38,426
lost my mom unexpectedly in 2016,
and I went through some real dark

1279
00:42:38,332 --> 00:42:39,328
times around that.

1280
00:42:39,328 --> 00:42:40,339
But it also is what propelled me

1281
00:42:40,274 --> 00:42:42,500
into local government because I
realized if there's something you

1282
00:42:42,800 --> 00:42:49,493
want to do, you need to do it
because the future isn't promised.

1283
00:42:49,396 --> 00:42:50,145
But I would really stress to my
younger self that to really

1284
00:42:50,129 --> 00:42:51,114
prioritize mental health care, and
it's more of a journey than a

1285
00:42:50,999 --> 00:42:51,920
destination because I think we all
ebb and flow with it depending on

1286
00:42:51,920 --> 00:42:52,363
our circumstance.

1287
00:42:52,363 --> 00:42:53,755
But it's really important can you

1288
00:42:53,755 --> 00:42:56,350
say that you're talking about like
your personal, like as in take

1289
00:42:56,350 --> 00:43:00,432
care of yourself personally and
your mental health.

1290
00:43:00,432 --> 00:43:00,783
Correct.

1291
00:43:00,783 --> 00:43:01,046
Yeah.

1292
00:43:01,046 --> 00:43:02,890
I agree with that.

1293
00:43:02,890 --> 00:43:04,969
I agree with that all the time.

1294
00:43:04,969 --> 00:43:07,716
Like when I'm mentoring new agents
or anything like that, I kind of

1295
00:43:07,716 --> 00:43:10,844
give advice to talk about like,
it's stressful, right?

1296
00:43:10,744 --> 00:43:13,547
When you're doing this job, I'm
sure doing it, obviously every job

1297
00:43:13,547 --> 00:43:26,118
has its own, but like your mental
health is the only thing you

1298
00:43:26,061 --> 00:43:26,517
really have.

1299
00:43:26,517 --> 00:43:27,815
So you have to really take care of

1300
00:43:27,815 --> 00:43:29,112
it so i completely agree with that
and everyone has their own story

1301
00:43:29,112 --> 00:43:30,842
so yeah yeah actually through the
campaign i've hired a sports

1302
00:43:30,842 --> 00:43:33,743
psychologist over the next six
months to work with and i'm not

1303
00:43:33,743 --> 00:43:37,248
really a sporty person but when i
analyzed kind of the resilience

1304
00:43:37,248 --> 00:43:40,441
coaching that i needed i landed
with sports psychology because

1305
00:43:40,441 --> 00:43:43,424
it's like leading up to that one
event.

1306
00:43:43,424 --> 00:43:45,455
And so I find mental health very
interesting.

1307
00:43:45,455 --> 00:43:46,661
And again, it's part of that
journey.

1308
00:43:46,661 --> 00:43:51,554
So, I mean, there must be a lot of
noise in day-to-day life and yeah,

1309
00:43:51,454 --> 00:43:52,737
you got to have thick skin.

1310
00:43:52,837 --> 00:43:54,570
Like Matt and I have a hard enough

1311
00:43:54,570 --> 00:43:56,295
time just recording a podcast.

1312
00:43:56,295 --> 00:43:58,331
I can imagine being a public

1313
00:43:58,331 --> 00:43:59,584
figure like you.

1314
00:43:59,584 --> 00:44:00,367
So, okay.

1315
00:44:00,367 --> 00:44:02,443
What is your favorite charity or
how do you give back?

1316
00:44:02,443 --> 00:44:05,673
So I use my business as a way to
be giving back to the community

1317
00:44:05,673 --> 00:44:06,243
with different initiatives.

1318
00:44:06,243 --> 00:44:08,397
And I would say my themes are

1319
00:44:08,397 --> 00:44:09,941
women, families, animals, and
health.

1320
00:44:09,941 --> 00:44:14,027
Those are kind of the categories
that I personally like to support.

1321
00:44:14,127 --> 00:44:16,923
And that's where I donate and
volunteer my time.

1322
00:44:16,923 --> 00:44:20,881
And actually when my mom passed
away, I was the executive of her

1323
00:44:20,861 --> 00:44:21,061
estate.

1324
00:44:21,042 --> 00:44:22,754
And because she was so young, she

1325
00:44:22,754 --> 00:44:25,880
hadn't done a lot of financial
planning to pass away.

1326
00:44:26,080 --> 00:44:27,450
Like she'd done financial
planning, but she was young.

1327
00:44:27,450 --> 00:44:29,756
So it wasn't structured in a way
for her to die so quickly,

1328
00:44:29,749 --> 00:44:29,949
unfortunately.

1329
00:44:29,920 --> 00:44:31,415
And so with that came some huge

1330
00:44:31,415 --> 00:44:31,714
tax implications.

1331
00:44:31,714 --> 00:44:33,124
So my sister and I actually took a

1332
00:44:33,124 --> 00:44:35,680
portion of her capital and put it
into a legacy charity giving

1333
00:44:37,120 --> 00:44:37,533
foundation.

1334
00:44:37,433 --> 00:44:38,837
And that generates interest every

1335
00:44:38,837 --> 00:44:41,400
single year, which we then donate
to charities.

1336
00:44:41,400 --> 00:44:45,630
And so it's been our way of not
only doing tax planning on her

1337
00:44:45,629 --> 00:44:47,571
behalf so that we weren't just
paying CRA a couple hundred

1338
00:44:47,571 --> 00:44:49,950
thousand dollars, but our way of
being able to give back to the

1339
00:44:49,950 --> 00:44:50,241
community.

1340
00:44:50,241 --> 00:44:51,896
So I donate to that charity and

1341
00:44:51,890 --> 00:44:55,696
then I donate that money back to
different is incredible.

1342
00:44:56,238 --> 00:44:56,936
That is incredible.

1343
00:44:56,936 --> 00:44:58,963
I mean, obviously a very difficult

1344
00:44:59,285 --> 00:45:02,108
time in life to come up with such
an amazing idea.

1345
00:45:02,108 --> 00:45:04,263
Did you do some estate planning
with lawyers and that's how it

1346
00:45:04,105 --> 00:45:04,701
kind of came up or did you just
kind of come up with Well, I was

1347
00:45:04,683 --> 00:45:05,100
working with an accountant and I
was like, okay, like what are the

1348
00:45:05,900 --> 00:45:09,204
ways that we could save taxation?
So, well, you could donate.

1349
00:45:09,204 --> 00:45:09,778
I'm like, okay.

1350
00:45:09,778 --> 00:45:11,341
And then I talked to my financial

1351
00:45:11,341 --> 00:45:11,445
advisor.

1352
00:45:11,545 --> 00:45:13,106
Like, well, did you know about

1353
00:45:13,106 --> 00:45:15,819
charitable giving and how you can
set up a foundation in a loved

1354
00:45:15,819 --> 00:45:16,608
one's name?
And I didn't.

1355
00:45:16,608 --> 00:45:18,151
And it's very inexpensive to do.

1356
00:45:18,151 --> 00:45:19,669
And there's like a minimum of

1357
00:45:19,669 --> 00:45:19,799
$20,000.

1358
00:45:19,799 --> 00:45:22,071
So I tell everyone about it

1359
00:45:22,071 --> 00:45:24,707
because some people don't have
kids and it's a great way to do

1360
00:45:24,746 --> 00:45:25,122
some estate planning and also have
a legacy alive so that every year,

1361
00:45:25,102 --> 00:45:25,784
like when I think of my mom in
December, I get to choose

1362
00:45:25,764 --> 00:45:26,060
charities that she would like and
support them.

1363
00:45:25,971 --> 00:45:27,452
So we usually choose more of like
startup grassroots charities

1364
00:45:27,452 --> 00:45:29,560
because we know how hard it is to
raise capital.

1365
00:45:29,680 --> 00:45:30,860
So every year it's a bit Yeah,
that's awesome.

1366
00:45:31,300 --> 00:45:32,544
is actually a really good idea.

1367
00:45:32,516 --> 00:45:34,096
So glad you brought that one up.

1368
00:45:34,069 --> 00:45:37,153
All right, Loyal, how can self or
Taylor or our help you?

1369
00:45:37,153 --> 00:45:39,852
So I would say follow my social
channels.

1370
00:45:39,852 --> 00:45:42,037
That's where I'm going to be
talking about me and everything

1371
00:45:42,037 --> 00:45:44,651
Kelowna and what matters, which is
Loyal Kelowna on Instagram,

1372
00:45:44,651 --> 00:45:47,711
Facebook, and the lovely realm of
Twitter, while X formerly known as

1373
00:45:47,711 --> 00:45:47,839
Twitter.

1374
00:45:47,839 --> 00:45:49,987
That's where I'll be sharing a lot

1375
00:45:49,987 --> 00:45:51,511
about myself and what I'm bringing
to the table.

1376
00:45:51,482 --> 00:45:53,020
Obviously, you'll hear about
policy statements from the party

1377
00:45:53,480 --> 00:45:56,078
later on, but just really speaking
about what I stand for, what I'm

1378
00:45:56,078 --> 00:45:58,906
advocating for, just getting the
word out that it's really about

1379
00:45:58,906 --> 00:46:01,509
voting for the person who can best
represent Kelowna in the

1380
00:46:01,509 --> 00:46:02,160
legislature and government.

1381
00:46:02,160 --> 00:46:02,984
Yeah, that's great.

1382
00:46:03,084 --> 00:46:07,700
Well, thank you so much for your
Well, thank you for putting me in

1383
00:46:07,668 --> 00:46:10,060
the hot seat.

1384
00:46:09,986 --> 00:46:10,060
I knew it would be some difficult

1385
00:46:10,031 --> 00:46:10,060
questions.

1386
00:46:10,036 --> 00:46:11,940
So thanks for having me in Yeah, I

1387
00:46:11,920 --> 00:46:12,950
appreciate it.