Recommendation: That, on the
recommendation of the Director of Municipal Housing, with the concurrence of
the Managing Director of Housing, Social Services and Dearness Home, the
following actions be taken with respect to the project proposals received
under the Investment in Affordable Housing (IAH) Program RFP14-36:
a) Ironstone
Building Company BE ALLOCTED a municipal allocation of $53,252 per unit for
thirty (30) IAH units, for a total municipal allocation of $1,597,562 and a
federal/provincial allocation of $61,747.93 per unit, for a total
federal/provincial allocation of $1,852,438, for a project located at 399
Commissioners Road West, London;
b) the
project proposal noted in part a), above, BE FORWARDED to the Province for
program funding approval under the Investment in Affordable Housing Program
Year 4, by the City of London;
c) DeafBlind
Ontario Services BE ALLOCATED a municipal allocation of $50,000 per unit for
four (4) IAH units, plus $5,000 per unit for four (4) accessible units, for a
total municipal allocation of $220,000 and a federal/provincial allocation of
$60,000 per unit, for a total federal/provincial allocation of $240,000 for a
project located at 2514 Tokala Trail, London;
d) Cindy
and Robert Sedge BE ALLOCATED a municipal allocation of $47,222 per unit for
nine (9) IAH units, for a total municipal allocation of $425,000 and a
federal/provincial allocation of $67,778 per unit, for a total
federal/provincial allocation of $610,000, for a project located at 736
Talbot Street, London;
e) Rivas
Majano Corporation BE ALLOCATED a municipal allocation of $38,300 per unit
for thirty (30) IAH units, for a total municipal allocation of $1,149,000 and
a federal/provincial allocation of $55,000 per unit, for a total
federal/provincial allocation of $1,650,000, for a project located at
228-230 Dundas Street, London;
f) the
three project proposals noted in parts c), d) and e), above, BE FORWARDED to
the Province for program funding approval under the Investment in Affordable
Housing Program (IAH 2014 Extension), by the City of London;
g) the
funding allocation from the Affordable Housing Reserve Fund, for the total
municipal allocation of $3,391,562 recommended above, be as set out in the
Sources of Financing Report appended to the staff report dated August 25,
2014; and,
h) in
accordance with Municipal Housing Facilities By-Law No A.-5814-11, the
by-laws appended to the staff report dated August 25, 2014, BE INTRODUCED at
the Municipal Council meeting on September 2, 2014, to:
i)
authorize a Municipal Contribution Agreement substantially in the form
of an agreement appended (Appendix F) to the by-laws and to the satisfaction
of the City Solicitor for each of the above-noted proponents; and
ii) authorize the Mayor and the City Clerk to execute the said
Agreements. (2014-S11)
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