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Home My WebLink AboutKIN 65 1896 Agree Twin Pines Ap n_" , ;.~ ' ~4~;.<' " ~~" . ~ . '.~ i: f ii , , f· t ··,,,e ". .. .i f. ,; ," .. .'~ " .'~.;, " ';'.-, ,,}, ,-' ... ,.'. 'lB& ~fiONi" or THK 'l'O'\IlJf or øøL&1Jruaber J.8t6 A BI :r..ø TO ØJH01LIZ& 'lHESDCù'l'IOJl OF D O»--"1T . . ,~ "¡#'IIr.NJ..Ø. 'I'HE IœPOII:nft OF TIœ TOWN OF KIJlCARD R JIfD 'l'IIR pIbS ;:>~f5J' " . "', . . , " ,'.yol:~'lS t.DD:TSJ)~ as'l'OlÌ,ONTARIO. WJiJ¡t.'Tb.. Reusing Deve10plllent Act, R.S..O. 19 Q¡ Chapter 1$2, Sec.17 ud__dments there1» prevides that a JImicipi'ty, with the -.pprohl of the lØ.niater of' Economics and Deve oplMl1t, may enter ",Uto an agreement nth a person or governmenta .uthGlrity fer ,,···,-~·-t~~, sharUig or contri.~uting to the capital cest Qr maintenance cost of' a housing pr.j~~ ØD WV~ in tþ¡¡ opini.. of this council the exists within the ,/:t.wn«f" Jt:i.ì1cardine a need for low cost rental ousing fer needy old ,tge pena.1oners ~ other elderly needy persons ,- .. . ""'. ~!t TwinP.Lnes Apartments Limited has ntered inte neg... ~atiotls with CentrAJ.Jlertgage and Housing Cor oratien for the ,-+,pose of obt.a1ning a loan Qn the security of a mortgage in am '..unt tlGlt in excess of'ninet~percent (9~) 0 the capital" cost ,'!£cGlQstructing an eleven suite apartmlillt, buil 'ng in the Tewn ef ~d1a. for the purposes aforesaj,d. ' .øl1. wJœItlU!'t in erder to provide sufficimt cap tal to defray in full . , ~e œst of acquiring land, constructing the s d apartment build.. <.;;~.prClV:l.dingneCe$sary furnishings and munic'pal services for the . ·~.~d..partm_t b\Ùld,1ng the said Twin Pines Ap menta Limited r.... . iQ\l.1re. the maximwa gr_ obtainable from the ovincialo.vernmmt ..... If' s '1'16- und.r theprevisicms of the &1der1y Persons^li Ac't, and c.ns01id... ating and· amending Statutes~ .. ..lID WH1lR1U!'I in order to provide low rental ho acce.edatien ~4~" . ,;tertheptµ'pusaforesaid, and in aceo rdance ith the requirem.nts ;,\.t CêÌl~aJ. .rtcq.~Id.Housing Corpøration, d .the saidTw:i.n Pines; Jf'·, , .~artments Lilllited . further requires an agreem t 'with the Cerp... ";",<" .ra.'ti,ea¡of the Town er Kincardine providing f r a refund .r the total a.....~ taXes in~.sa of $2.5.00 (Twenty-Fiv. doUars) per suite, ',p.r t-ax-, local,iâp'revements .xcluded. ."."', ,'Æ ... 2 ..,. l896 ';r" "c~,,,):,- ""'."d~ m apprnal. of the Minister of Be o~cs and Deve!.. .pmsrit'tothe passing Of this by-law and execu (¡)f the anJI!¡exedl . agre..~tby the said Corporation was obtained ROW TH.~ the Council of the Corporation 0 Town or - Ei.I11cat'dime enacts as fellows t 't ù·, ~ht·~.".yorandClerk of the Corìorat.ion f the Town.! J:i.nlearüitte·be~,;;hey are hereby authorized an instructed tel execute en bêhalf, Qf' the Corporation, the.l.gre mt herete a,naexed an¡¡i,Dlarked.Schedule 'A' to this by..1aw. . THIS By-law sha11Q;¡'me into force and effect u n the final ~assing ,'the.reof. Deco!lÖJer 1~ 6, August 19" 65 ... &.ad a .t'iJ:stand second time this Sixth f;- 1'_' 1IHd a . thìr4.till1e and finally passed this thi . C er APPRoVEDIifJ'l'HE OHTAIIO MUJlICIPAL BOAJm . 11:1. S156-6S-Monday, the 22nd d~ of' ReDlber 1965 0.1,\ If 0.,'26 ,'olio Ho. 65-Dec.3/ó5 a. Yicì:er~ .. 01' ;;>" '!H&ÇORPORATION OF THE TOWN OF BY-LII h. 1896 SCH1Dur.& t~ TRIS AaR"". ~y IIIDK, IN DUPLICAn THIS: 19; . --, ARDIØ Dll OF 'iI5:.t.4 ,·l~ THK. CORPORAUON OF THE TOWN OF IaN ,ca1led,the "municipality"; Itt herinaf'ter OF THE F T PAtt and '1'WI1f P'.LlIJIi$: APARTJBNTS LIMITED, a co y incorporate" under the laws (if th e Province of <l1tarie" h ing its head of'fice at theTCi1tm ef Weston. . OF THE S . P&R'! ";';,WHD1l~ Mn P:i.ne,sApartmen ts Limited, 11mi t d..di vided hGsing t, cerpor$.tion incorporated under the Qltario C a.nies Act" fQ!' the purpose of cenatructing and operating a low. enta~ housing projeo~ 'tn theTo'N!l of'Irincarð.ine, in the Province 0 in, ace:ordance with the Provisions of Ihe&tional Housing .lnd~Stbesaid Twin Pines Apartments ·tèd. has agreed with . ,the CØrpoNtlen of the Town of Kincardine tól proceedwit,h the erecti. ef an e1eveR suite apartment building in the Town OIl Kincardine on certain lands conveyed to it by the Kincar . e Kinsmen Club. preu¡ises:and theèø't'enants herein contained' mutuaUy agreed as follows: , COnsideration of th,e parties he~~te have '. :,';..,,':., '1IC1fI',THEUFOU TFlISAGRDBN'r WITUSSKT1!I! that 11;' 'l.'Win Pines Apartmeats Limited igrus that it will during the year JL9!4proe:.eed with the erection of an e1 even suite apartment building en the 1and·s conveyed to it by the K1nca1:'din . Kinsmen Club and the sai4'fWin Pines Apartmats Limited agrees to operate the said apartment building as a low rental housing p oject in accordance ".'11 the agreement to be entered into betwe the said Twin Pines &partments and Her Majesty the Queen. in the right of Canada, represented by Central MOrtgage and Housing orporation. , ... , j ~. _.1 1 < .. -,"'·f , ·-" -2- ~.. '!be Corporati012l of' the Town of Kincardine c venants and agrees ;i'w.I"th Twin Pines ApartlNlts Limited that it wiU refund to the said ;;:l'W.in PineS Apartments Limited the total amount f the annual taxes in eXcess' of Twenty-Five Do~lars ($25.00) per site, per Yèàr, local Uiprovq¡enet excluded, for a period of rs,' so long as the ..røntals charged by the said Twin Pines s Limited do not c--' exceed the rentals that may be to the agreement :.,,- be entered into between the said Twin Pines partments Limited ',êd Her li&jesty the QÞ.een, as represented by C tra1 Mortgage and Ik>using Corporation, and so long as the said Pines Apartments '}l.:1Ja1ted complies in all other respects with th the said -" "'ågreemen t. 3., In the event that a tenant in possession of a unit has an in.come e, ,.b eXCess of the limitspI'Qvided by Paragraph (1) of' the agreement 'be.twe&h Cøntra1 Mortgage and Housing Corporati n and Twin, PineS' Apartments Limited, then taxEils will be charged to Twin Pines ¡.partments Limited, at the option of the M.mic pality, in an amount that the proportion of· the building occupied b the said tenant bea,rsto the whole building and land, for such period of time that the said tenant is in ¡)ossession of the unit '~ess of the said limit. ving an income iDI . Îl'I W.ctN_1IHJaE~the corporate seals of the rties hereto have been' herewto aff'ixed attested by the hands of their proper .1'ficers -,-) thereunto duly authorized~ 'JIB CORPORATION OF TG'lN OF iUlW.1JiDINE 'lWIJ[ PINES APARTmN LDIITKD ;,:. - "'" .,. - " . . - ONTARIO F. 156-65 THE ONTARIO MUNICIPAL BOARD IN THE V~TTEROF Sections 63 and 640 of The Ont.rioMunic1~ Board !sa:.. (ft.S.O. 1910. c. 27ltJ -and- IN THE MATTER OF an application by The Corporation of' the Town ot Kincardine tor an order: (.) approving the IIIRking of a relUnd to Twin P1ne. Apart- ments Limited of the amount of annual taxes in exce.s ot $25.00 per suite per year, exclu.dlng local apron_nt char&es¡ f'or a period ot f'ift years with reapect to aneleve sui1;e apartment building as a low rental houaiq project to sen10r citI.ens declaring and direcUn¡l; that the aasent of the elec~ora ot the Town ot Kincardine or tho qual.fJ'ied to vote on money by- lawe shall not be requisite to òe obta:1Ded to the paasin&: ot by-lawa tor the purposes af'or 8&14 (b) BEFORE: A. H. ARRELL. Q.C., V1ce-Chalrun ) l ) J - and - Ioionday. th 22nd day ot Novembe , 1165 .. A. L. McCRAE, Member UPON THE APPLICATION of The Corporation ot Town ot Klne&r<t1ne tor an order approvin& the ~lng retund to Twin Plus Apart_nb LImited or certain ann uxe. with r"pe~ to a low rental houaIn& projeot. and directing that: the assent ot the electors ot 1C:1DC&rd:1De or tho.e qualified to vote on IIOne by-laws shall not be requIsite to be obtained to the p&asi ot by-lawa tor the 8&14 p\U"pose, aDd 110 appearln& that tice of' the aaid -~- .... .... \ ,. . . ~" o - ONTARIO F. 156-65 THE ONTARIO MUNICIPAL BOARO - 2 - application has been given in accordance with he directions ot the Board, and no one having tiled objecti thereto within the'te1'lll prescribed in the said notice, and u n reading the _terial filed ¡ THE BOARD ORDERS, under and 1n pursuance 0 the legislation hereinbefore reterred to, and ot any and all in the Board, that< the making ot a refund to 1n Pine. Apart- menta Lillited of the amount ot the annual tax a in excess of $25.00 per suite per year, excluding local 1m roYeunt charges, tor a period ot fitty years, with respect to eleven-suit<e apartment building propose4Jpr construction y the said Company to be operated. as a low rental housin project, is hereby approYe~ and that the Corporation may now exercise all its powers and pass all requisite by-laws tor such purpose. AND THE BOARD DECLARES AND DIRECTS that th assent ot ~e electors ot the Town 01 Kinoardine or those q litied to vote on money by-laws shall DOt be requisite to be obtained to the exercise b.f the Corporation of the powere afo ...14. c{d~ SECRETARY ENTERED '-1 1-2" a.t¡, N . ...'nnn'............' Folio N ".n...nn65 nn I DEC 3 .. 1965 ,.t:~~~ "~~