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Home My WebLink AboutKIN 76 4004 Ont. Housing Corp. THE CORPORATION OF THE TOWN OF KINCARDþ:NE BY -LAW NO. 4004 . HOUSINf CORPORATION ! THE Corporation of the Town of Kincard~ne enacts A BY_LAW CONCERNING THE ONTARIO as follows: 1. The Mayor and Clerk are hereby autþorized to execute , and affix the Corporate Seal of th¢ Town of Kincardine , to the Agreements dated fifth daYi of August, 1976, I between the Corporation of the Towp of Kincardine and Ontario Housing (;orporation. I , , Copies of which are attached heretp. this 5th day of August, /~/d;4 1976. finaLLy - piS$-e.d ... . ' - . '~:~'-:-~;~ .:::.....~ .~ Read a first, second and third time an~ "", -=- :. ~?7I<:~;J;;þ~ r Gterk . i . , i , , . ...... ~- -- - ...,.-.'.' , <-, Project Mo. Kincard ne OH-4 .... 69 S.C. . ~ _1I'~a/SEtlIOR CITIZEN UIIITS 'l'hi.a A9r....nt ... 1ft lIupl1cate this A.D. 19 76 . 5th II of August eSTWSSN: OIl'1'AlUO HOUSING CORPORATION (hereinafter called -tJae Corporati or TBB PIIIS'r . - and.-· THE COUOIA'I'ION or TIlE or '1'IIB SBCOIID ¡tAlII' WHBDAS by virtue of the provisions of The Ont 10 1Ioua1ng CorporaUon Act, Mvi" Statutes of Ontario, 1970, ... The B0U81nq Dev.lo.-ent Act, Revised Stawte. of Oft 10, 1'''0, Chapter 213, the Corporation IllaY ent.r into 89r.... t. re.peeUat the acqui.ition and ðevelop.ent of land for hou.ing~~... ~ for the acqui.ition and/or ODD8truction of hou.ing cc o~.~1oD for .al. or for rent, NIl) WllBIMS the lIWIicipel1ty ha. requ..ted, ha. ..,reed to provlde, op8a-ate and aanav. hou.1nq the COZpon~ U_of r- .pp&'o.~tely 69 fWl¥iHnior oiUNn bou. nv \ift1u Oft 1..... a1Qaate wlthln the llu1C1lpel1ty, AIID WHZUU the .....lclpal1ty ba. on the 5th day of August. A.D. 19 76 , pa.Hð By-l_ 110. /tOOl¡. , autboddat tbe .nted", lnto of thl. 14UV-I-t. " ir - Pdge 2 - AND WHEREAS to assist in the provuion, and _inten- ance of the said housing accom.odation, the Corporat~ n has entered into n8qotiations with Central Mortgage and Housing rporation for the purpose of obtaining a loan and annual contr"butiona under the provisions of Part VI of The National Housinq Ac , aevised Statutes of Canada, 1970, as amended, AND WHEREAS to further assist in the aaintenan of the said housing aco·- o1lation, the lIImicipality to contribute toward the operating coete thereof, and opea-at:ion .. agreeð NOW THEREFORE THIS AGREEMENT WITNESSETH 'l'IIAT e parties hereto on behalf of themselves anà their re successors and aS8igns, in consideration of the IllUtual covenants hereinafter contained, covenan each wi th the other, as follows: ctive of and aI)&'Ø, 1. For the purposes of this Agreement: (a) -Gross Revenue" ..ans the rental revenue arneð by the Corporation in the operation of the h accommodation project in each calendar ye , UId recorded on either a cash or accrued baai . (b) "Operating Expenses· means the total of: (i) Amounts paið by the corporation to ntral ØDrtgege and Housinq Corporation for principal a intereat: in repayment of monles loaned to the Corpor provision of the above recited houaing a oc -Delat:ion. (ii) Amounts paid by the Corporation to e Treaauzer of Ontario in repayment of ~nies aðvanc fOrtbe provision of the ea1ð housing ace Ðdat Oft, inclu41D9 interest on such advancee at tbe'rate of 10 3/4 , par annum. - Page ) - (lli) Aaountø pald ln any calendar year by th Corporation to the Municipality in connection with the housing ac~odation, to the provisions of clause 3 following. (iv) Fire insurance premiums, if any, or amo nts paid by the Corporation in any year, pro-rated on a Prov nee-wide per unit basis,. for losses due to fire, wind or yanda ism. (v) Liability inaurance premiuaa. (vi) ~nts paid for labour and services without liJllitinq the generality of the for 01nq, w84Jes, salaries, workøen's compensation and other rinqe benefit.. (vii) ~unts paid for equipaent, supplies ..teriall U8ed in repair inC), maintaining, MA84Jing adainistratift9 the hou8inq acc- ....aHon. ut reiatNr..- (viii) Anounts paid by the Corporation, aent by tenants, for light, fuel, power (ix) Uncollectable revenue that ba. been by the Corporation. (x) Other direct and indirect operational osts agreed to in writing fr~ tt.e to time bet~en the C. rporation and the Municipality. (c) "Operating Loss" mean8 the net of operati qro.1 revenue applicable to the project c noing fro. the date of initial occupancy of the proj t and reported on a calendar year basis. (d) "Operating Profit· _ana the net of gross revenue less operating expenses applicable to the proj t c nll '11101", from the date of initial occupancy of tb projeot aDd reported on a calendar year ba.i8. 2. Th. Corporat.ion aCJr_. t.o provide, operate a _intain oc:.pleteð, will cCllllprhe approxiaately which, when ~ø.nior øltl~.n houøinq aç~at.ion on MuftiølpAlity delcribe4 in Schedule "A" annexed 69 units. The Municipality will be under no obligation ility to oontribUte to the capital CQlt of the ~&id housin am::~od.t1oD, in9 profits in clau.e t. - Paqt: 4 - nor, .ave as hereinafter prov1ded, to the cost of 0 uintaininq lame. The parties hereto Municipality shall not be entitled to receive profit. or other increments from the project. shall, however, be dealt with in the manner set for raUnIJ UIð at the 3. (a) The Corporation shall lUke to the Munici annual paYJIIBnt in lieu of taxes on the project of an IœO\1nt equivalent to full normal taxes for any year 4 rinv the currency of this _gr..-ent. Pa~nt ahall be lllA4e at ~ same t~e or tt.es ö_ t~ll normal ta~es would provided that no pay_nt in lieu of taxes will in respect of the period prior to the c~letiOÞ initial occupancy of each bUildinq. Any refund ubi therefrca shall be in the form of a reduction of paymeli in lieu of taxes in the year subsequent to the calendar ear in which the over-payment was made. (b) Subject to the provisions of The Local r~t Aot a. to the replacøaent of services, the Munici lity aIJrees that no municipal taxes, rates or charqe~ aha 1 be l.vied or charged aqain.t the land. of the Corporation in re.pect of the hou.ine) acc- gdation project 80 lane) a. ,it is OWIM by the Corporation, and no payment in lieu ther f .hall be ... in re8pect of the period prior to the occu eaGb building or qroup of buildings &s .for...nti ned. (c) The Mur.icipality aqrees that no .unici 1 teices, rates or charg.. (but not incluàinq busines. taxes, poll t...., do.¡¡ taxe., w.tet' rate. or hydro r.t....) shall be levied or oharged. to ~he t.nant. or OCCUplil'lt.$ ot the I, u8i"9 iIIIOCOIIIIIod¡¡¡¡ti.,)'¡ \lnits \Çithin the ~r(¡ject:, 90 &r~ ouneð by the CorporAtion. ftg a. ilucb uni t8 - Page 5 - --. (d) The Municipality further agre.s to provi . or caus. to be provided to such tenants or occupants all aciliti.s and servlce. that are provideð to other property rs or tenants in the Municipality inclwiiNJ, but wi out 11a1tiDg the generality of the foreqoiNJ, garbage 0011 ction, fire and po1:ice protection, and eðucational faciU i... 4. The Municipality shall pay to the Corporatio on or before the 30th day of June in each year a sua equal to even and one- half percent (7~') of the operat1NJ loss, if any, of the said houainq acœ 1\1 -,¡daUon prcject for the preceðinq 0 lendar year, to the ..tent of such lo.s not being fully pl'OVicleð or by aD)' previous profits reservecl as Ht cut below. '!'he CorporaU n ehall calculate the .-oIInt of the operatlDg loss, if any, and not fy tbe lIImicipa11ty in writing of the aIIOUnt thereof on or about the Oth day of April in the year in which nch payment shall be aade. Should the Corporation a~late an operatinq profit on project for any period, it shall be retained in a reHrve to be appl1eð against future operatift9 10s.es. S. The Municipality shan have the right, thr hits lÍervut.8, agents or auditor., at any t1JDe, upon re&aonable notice to the Corporation, to ex.-1ne the book. and recorðs of, the CorporatiOft and, in the event tbat at any time the Municipal ty ðbpute8 the AIDOW\t cla18eð by the Corporation UDder par84Jra 4 hereof, and the . parties hereto cannot resolve such dispute, the, cipa11ty and the Corporation shall refer 8uch ðbpute tQ a .0 .ach of th., and ~ ð.vislOft of 8Uch thlrð party ....11 be final and bindinv Oft both parties hereto. 45 . 'I'hia o\9r....nt sball r.aln In force for a Corporation shall oontlnue to operate the housi .. . pII~UO 1\HlI.", pro,", .. ,.U" I... ,g, lonq as the ace ~ð.tlon of \be ,.U0II&1 Houain9 Act, Reviaed Statute. of CaNIda 1970. and subj ~al1 .DUre to the benefit of and be blnding upon the thereto. - page b - oereto, their successors and assigns. Provided, r, that neither party to the Agr....nt shall ass19n the A9r the written conåent of the other party first had and t witbout III WITNBSS WlŒRBOI' the partie. hereto have hereu r affixed their corporate ..als under the hands of their proper sl9ftlDg officer. duly authorise4 in that bahalf. OBTUIO HOUSING COItPOltATION Per . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Vlce-Cbalnaan) Per . . . . . . , . . . . . . . . . . . , . . . . . . . . . (Secret.ary) THE CORPORATION or TIlE TOWN OF KINCARDINE Per ~ . ;' -- . / .r/////";(; / ..' ~/h"t...~.... .-(V~.I'."'v.~.. . to" ·.ayor \-- ", .,.-¡-:'..,,~ . :?;:~~...¡ .,·~.·:-tl'~-:-~~-. . ..... Per Clerk SCHEDULE "A" TO AGREEMENT dated 'ith day of .'\\l.i~lJ¿)t , A.D. 197,', . BET WEE N: ONTARIO HOUSING CORPORATI - and - THE CORPORATION OF THE TOWN OF KINCARDINE LAND DESCRIPTION ALL AND SINGULAR that certain parcel or tract of and and premises, situate, lying and being all of Lots I nd 2 and part of Lots 3 and 4, East side of Huron Street, egistered Plan 4, and parts of Lots 4, 5, and 6, North side of Durham Street, and parts of Lots I and 2, being a subdiv sion of Lot 7 on the North side of Durham Street, registe ed Plan 61 more particularly known as Part One, Reference PI n 3R-IOIB.