Item - 2020.MM23.6

City Council on July 28 and 29, 2020, adopted the following:

1. City Council exempt the two new affordable rental homes at 80 Vanauley Street (being units 309 and 409), gained through a Section 37 Agreement on the property, from taxation for municipal and school purposes for the term of 25 years.

2. City Council authorize the Executive Director, Housing Secretariat to negotiate, enter into and execute on behalf of the City, a municipal housing facility agreement (the City's Contribution Agreement) with Atkinson Housing Co-Operative Inc. to secure the financial assistance, being provided and to set out the terms of the development and operation of the new affordable rental housing, on terms and conditions satisfactory to the Executive Director, Housing Secretariat and in a form satisfactory to the City Solicitor.

3. City Council authorize severally each of the Executive Director, Housing Secretariat and the General Manager, Shelter, Support and Housing Administration to execute, on behalf of the City, any City security documents including any postponement, confirmation of status, discharge or consent documents where and when required during the term of the municipal housing facility agreement, as required by normal business practices, and provided that such documents do not give rise to financial obligations on the part of the City that have not been previously approved by City Council.

4.  City Council authorize City staff to cancel or refund any taxes paid from the date the By-law exempting the property from taxation is enacted.

5. City Council authorize the Executive Director, Housing Secretariat to provide $3,000 in one-time funding, inclusive of HST and disbursements, from the Capital Revolving Reserve Fund (XR1058) as a grant to Atkinson Housing Co-Operative Inc. to be used to fund operating expenses related to the two new affordable rental homes at 80 Vanauley Street.