That the following actions be taken with respect to the request from members of the Vision SOHO Alliance for funding for soil remediation; it being noted that a conditional grant of $13,876,000 was approved by Council on August 3, 2022 for the Vision SOHO Alliance to provide up to 400 affordable housing units:
a) an increase to the conditional grant BE APPROVED, with the amount of such increase to be determined by the Deputy City Manager, Planning and Economic Development and not to exceed $3,900,000 and the approval of the increase is subject to the following conditions:
i) the members of the Vision SOHO Alliance, working with the Deputy City Manager, Planning and Economic Development or designate to establish a final value and volume for the removal and disposal of unsuitable soils at the Zerin Development Corporation, The Chelsea Green Home Society, Homes Unlimited (London) Inc. and London Affordable Housing Foundation development sites;
ii) the submission and approval of updated proformas from members of the Vision SOHO Alliance;
iii) the members of the Vision SOHO Alliance commit to filling up to 50 additional units from the City’s waiting lists;
iv) the members of the Vision SOHO Alliance providing all engineering reports and/or technical analysis related to the removal and disposal of unsuitable soils for review and acceptance by the City; and,
v) the provision of a strategy for the distribution of the funding and additional waitlist units between the Vision SOHO members;
b) subject to the conditions above, the Deputy City Manager, Planning and Economic Development BE AUTHORIZED to enter into the previously approved Contribution Agreements with the affected members of the Vision SOHO Alliance and once the amount of the increase to the grant is determined, amend the Contribution Agreements to support the increased conditional grant as the Deputy City Manager, Planning and Economic Development deems appropriate;
c) the source of financing for this request BE APPROVED as capital project SH3000 (Municipal Housing Division’s approved Roadmap to 3,000 Units funding), noting that Finance Supports confirms there is sufficient budget in this capital project to support this request, and also support the original $13,876,000 grant, as noted in clause a), above;
it being noted that the communication, dated August 24, 2023, from G. Playford, with respect to this matter, was received. (2023-E05)