HomeMy WebLinkAboutKIN 68 2020 Agree Ont. Housing
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THE CORPORATION OF THE
Town
OF Kinca 1ne
,
BY-LAW NO. 2020
TO AUTHORIZE THE EXECUTION OF AN AGREEMENT AN
IN FAVOUR OF ONTARIO HOUSING CORPORATION RE
TWIN PINES APARTMENTS LIMITED SENIOR CITIZENS
A RELEASE
ING THE
PROJECT
WHEREAS Twin Pines Apartments Limited is the owner of
the lands and premises situate on Queen
consisting of a senior citizens housing devel
it is presently negotiating to sell to Ontari Housing Corporation,
and
WHEREAS in order to facilitate such sal it will be necessary
for the Corporation to repeal its existing a reement with Twin
Pines Apartments Limited relating to the pa ent of municipal
taxes, and to enter into new arrangements wi h Ontario Housing
Corporation concerning the project, and also
right or option which it, the said Corporati
itself purchase the said development,
renounce any
may have to
J
the
Town
of Kincardine
NOW THEREFORE the Council of the Corpor tion of
, enacts as follows:
1.
That prior to the completion of such sa e the Corporation
ficient release of
will execute upon request a good and
any and all right or option which it
purchase the said senior citizens
to Ontario Housing Corporation, and the
presently have to
g project in priority
Clerk are hereby authorized to execute n behalf of the
Corporation any document necessary to
affix the Corporate seal thereto.
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2.
That upon completion of a sale of the
senior citizens
housing project from Twin pines Apartments L' ited to Ontario
Housing Corporation, the Corporation will en a t a by-law
[a] authorizing the Mayor (R~è) and Clerk to execute on
behalf of the Corporation of the Town of Kincardine ,
and to seal with the seal thereof, reement with
Ontario Housing Corporation in the which is attached
the Corporation the sum of $25.00
hereto, under which Ontario Housing Cor oration will pay to
using unit per annum
in lieu of normal taxes, and
[b] repealing By-law No. l896
and / or an other understandings,
agreements or resolutions presently exi ting as between the
Corporation and Twin Pines Apartments L'mited on the subject
of municipal taxes and the payment of s bsidies for the said
project.
THIS BY-LAW shall come into force and t ke effect on
the day of the final passing thereof.
PASSED this third day of
19 68 ,
May
Mayor
co,
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Proj ct No.
FAMILY HOUSING/SENIOR CITIZENS UNITS
This Agreement made in dpplicate this seven h dayúöf~~~bh
A.D. 1969.
BETWEEN:
ONTARIO HOUSING CORPORATION
lhereina£ter called "the Corpora on")
OF THE FIRST PART
and -
THE CORPORATION OF THE TOWN OF K
hereinafter ca ed "the Municipa
OF THE SECOND PA
WHEREAS by virtue of the provisions of The Ontario Housing
Corporation Act, Statutes of Ontario, 1964, Cha
and The
Housing Development Act, Revised Statutes of On ario, 1960,
Chapter 182, as amended, The the
respecting the acquisition and development of
purposes and for the acquisition and/or
accomodation for sale or for rent:
enter into agreements
nd for housing
AND WHEREAS the Municipality has requested, and the Corporation
has agreed to provide, operate and manage housi g accomodation of
approximately eleven family/senior citizen hou ing units on
.
lands situate within the Municipality:
AID WHEREAS the Municipality has on the t ird day of May
A.D. 1968, passed By-law No. 2020, authorizing he entering
into this Agreement,
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AND WHEREAS to assist in the provision, 0 ration and mainten;-
. ance of the said housing accomodation, the Corp ration has entered
into negotiations with Central Mortgage and Hou ing Corporation
for the purpose of obtaining a loan and annual ontributions under
the-provisions of Part VI of The National Housi g Act, 1954, as
amended¡
AND WHEREAS to further assist in the
nance and operation
of the said housing accomodation, the Municipa ity has agreed to
contribute toward the operating costs thereof ¡
NOW THEREFORE THIS AGREEMENT WITNESSETH T T each of the
,
parties hereto on behalf of themselves and the r respective
successors and assigns, in consideration of th premises and of
the mutual covenants hereinafter contained, co enants and agree,
each with the other, as follows:
1. For the purpose of this Agreement:
(a) "G~ss Revenue" means the rental
nue earned by
the Corporation in the operation of he housing
accomodation project in each calend
.
(b) "Operating Expenses" means the tot I of:
(i) Amounts paid by the Corporatio to Central Mortgage
and Housing Corporation for princip 1 and interest in
repayment of monies loaned to the C rporation for the
provision of the above recited hou ing accomodation.
(11) Amounts paid by the Corporatio to the Treasurer
of Ontario in repayment of monies vanced for the
provision of the said houisng acco including
interest on such advances at the % per
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annua.
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liii) Amounts paid in any calendar year by the Corporation
to the Municipality as grants in lieu of t xes in
connection with the housing accomodation, rsuant to
the provisions of clause J following.
(iv) Fire insurance premiums, if any, or he annual
provision for a reserve fund set up in pla e thereof.
(v) Liability insurance premiums.
(vi) Amounts paid for labour and services including,
but without limiting the generality of the foregoing,
wages, salaries, workmen's compensation an other fringe
benefits.
(vii) Amounts paid for equipment, supplie and materials
used in repairing, maintaining, managing a d administrating
the housing accomodation.
(viii) AIIounta paid by the Corporation, w thout reimburse-
ments by tenants, for light, fuel, power a water.
(ix) SUoh:.:cther items as may be agreed to in writing
from time to time between the Corporation nd the
Municipality.
(c) "OPERATING LOSSES" means the amount by whi h the operating
expenses exceed the gross revenue for the roject in a
calendar year.
(d) "OPliATING PROFIr" means the amount by whi h the gross
revenue exceeds the operating expenses for the project in
a calendar year.
2. The Corporation agrees to provide, operate and maintain
family/senior citizen housing accomodation on 1 nds in the
Municipality described. in Schedule "A" annexed ereto, which,
when cOlllpleted, will comprise approximately ele en housing units.
The Municipality will be under no obligation or liability to
contribute to the capital cost of the said hous'ng accomodation,
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nor, save as hereinafter provided, to the cost 0 operating and
maintaining same. The parties hereto further a
4IÞ Municipality shall not be entitled to receive 0 share in any
profits or other increments from the project·. erating profits
shall however be dealt with in the manner set f 4.
,
3. (a) The Corporation shall make to the Mun cipality an
annual payment in lieu of taxes on the pro ect of an amount
equivalent to full normal taxes for any ye r during the
currency of this agreement. Payment lull be made at the
same time or times as full normal taxes wo ld be paid,
provided that no payment in lieu of taxes ill be made in
respect of the period prior to the complet on and initial
occupancy of each building. Any refund ar sing therefrom
shall be in the form of a reduction of pa ent in lieu of
taxes in the year subsequent to the calend r year in which
the over-payment was made.
(b) Subject to the provisions of the loc
as to the replacement of
Improvement Act
icipality agrees
that no municipal taxes, rates or charges shall be levied or
charged against the lands of the Corporat on in respect of
.
the housing accomodation project so long
the Corporatien, and no payment in lieu t
in respect of the period prior to
building or group of buildings as aforeme tioned.
is owned by
.
shall be made
each
(c) The Municipality agrees that no mun cipal taxes,
rates or charges (but not including busin ss taxes, poll
taxes, dog taxes, water rates or hydro ra es) shall be
levied or charged to the tenants or occup nts of the housing
accomodation units within the project, so long as such units
are owned by the Corporation.
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(d) The Municipality further agrees to p vide or caUSe to
be provided to such tenants or occupants a 1 facilities and
41 services in the Municipality including, bu without limiting
the generality of the foregoing, garbage c llection, fire
and police protection, and educational fac lities.
4. The Municipality sahlI pay to the Corporat on on or before
the 30th day of June in each year a sum equal t seven and one-
half percent (7t%) of the operating , of the said
housing accomodation project for the preceding alendar year, to
the extent of such loss not being fully for by any previous
profits reserved as set out below. The ion shall calculate
the amount of the operating loss, if any, and tify the
, Municipality in writing of the amount thereof the 30th day pf
April in the year in which such payment shall made. Should the
Corporation accumulate an operating profit on the project in any
calendar year, it shall be retained in a rese e account to be
applied against future operating losses.
5. The Municipality shall have the right, servants,
agents or auditors, at anYdtime, upon notice to the
Corporation, to examine the books and records f the Corporation
4IÞ and, in the event that at any time the Municip lity disputes the
amount claimed by the Corporation under paragr ph 4 hereof, and the
. parties hereto cannot resolve such dispute, Municipality and
the Corporation shall refer such dispute to a hird party acceptable
to each of them, and the decision of such thi party shall be
final and binding on both parties hereto.
6. This Ãgreemext; shall remain in force for s long as the
Corporation shall continue to operate the hous ng accomodation
as a pUblic housing project as defined in Part Vl of the National
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Housing Act, 1954, and subject thereto , shall nure to the benefit
. of and be binding upon the parties hereto, thei successors and
assigns. Provided however that neither party t the Agreement
shall assign the Agreement without written cons nt of the other
party first had and obtained.
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IN WITNESS WHEREOF the parties hereto have hereunder affixed
their corporate seals under the hands of their roperty signing
officers duly authorized in that behalf.
ONTARIO HOUSING CORPO ION
Per
. . . . . . . . . . . . . . . . . . . . . . . . . . .
(Vice-Chairman)
per
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(Secretary )
THE COPORATION OF THE
TOWN . OF KINCARDINE
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Per ~:M.~.~':I:.
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(Clerk)
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SCHEDU LE "A"
TO AGREEMENT dated seventh day of March, A.D. 1969.
BETWEEN:
ONTARIO HOUSING CORPORATION
-and-
THE CORPORATION OF THE
TOdN OF KINCARDINE
LAND DESCRIPTION
NUMBER 1034 situated on the West side of Queen Street,
Plan 4, being the Sou~rly One Hundred and fifty-one
and four tenths (l5l.4) feet of Lot Twenty-seven (27)
and the Northerly Sixty (60) feet of Lot Twenty-six (26),
in the Town of Kincardine.
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