Recommendation: That, on the
recommendation of the Director of Municipal Housing, the following actions be
approved, with respect to the project proposals received under the lnvestment
in Affordable Housing Program RFP12-23:
a)
189
Dundas Developments lnc. BE PROVIDED a municipal allocation of $55,000 per
unit, for eleven (11) IAH units and a total municipal allocation of $605,000
and a federal/provincial allocation of $60,000 per unit, for a project
located at 189 Dundas Street;
b)
1263119
Ontario lnc. BE PROVIDED a federal/provincial allocation of $60,000 per unit
for a eight (8) IAH unit project, located at 115 Craig Street, Ailsa Craig;
c)
the
above-noted project proposals BE FORWARDED by the City of London, to the
Province for program funding approval under the lnvestment in Affordable
Housing Program;
d)
Four
Feathers Housing Co-operative BE PROVIDED a municipal allocation of $55,000
per unit for eight (8) IAH units, plus $5,000 per unit for one (1) accessible
unit, for a total municipal allocation of $445,000 subject to the approval of
the project by the First Nation, lnuit, Métis, Urban and Rural (FIMUR) Housing
Program, administered by the Ontario Aboriginal Housing Support Services Corporation,
for phase2 of their project located at 205 Commissioners Road West;
e)
the
total municipal allocation from the Affordable Housing Reserve Fund in the
amount of $1,050,000 as set out in the Sources of Financing Report as
detailed in Appendix ‘A’ of the associated staff report dated September 10,
2012, BE APPROVED;
f)
in
accordance with Municipal Housing Facilities By-Law No A.-5814-11, the attached
by-laws (Appendices B and C) BE INTRODUCED at the Municipal Council meeting
on September 18, 2012, to:
i) authorize a
Municipal Contribution Agreement substantially in the form of an agreement appended
to the by-laws (Appendix D) and to the satisfaction of the City Solicitor for
the following proponents: 189 Dundas Developments lnc. and 1263119 Ontario
lnc.;
ii) authorize the Mayor
and the City Clerk to execute the said Agreements;
g)
the
Municipal Contribution Agreement for Four Feathers Housing Co-operative BE
AMENDED to reflect the eight (8) additional units and associated funding;
h)
in
accordance with Municipal Housing Facilities By-Law No A.-5814-11, the attached
proposed by-law (Appendix E) BE INTRODUCED at the Municipal Council meeting on
September 18, 2012, to:
i) authorize an
amending Municipal Contribution Agreement substantially in the form of an
agreement appended to the by-law (Appendix F) and to the satisfaction of the
City Solicitor; and,
ii) authorize the Mayor
and the City Clerk to execute the said Amending Agreement; and,
i)
the
remaining federal/provincial 2012/2013 capital funding in the amount of
$226,620 be reallocated from the New Rental component of the lnvestment in
Affordable Housing Program to the Ontario Renovates component. (2012-C03-00)
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