Minutes
Special Meeting of Council
Monday, July 20, 2020

10. PRESENTATIONS AND DELEGATIONS

10.1. Windsor Essex Community Housing Corporation - Meadowbrook Housing Project Update

Hans Kogel, Jim Steele, Jay Shanmugam and Charles Janisse, Representatives from the Windsor Essex Community Housing Corporation (WECHC)

Hans Kogel, Jim Steele, Jay Shanmugam and Charles Janisse, Representatives from the Windsor Essex Community Housing Corporation (WECHC) appear before Council and are available for questions regarding the administrative report Windsor Essex Community Housing Corporation – Meadowbrook Housing Project Update.

Judy Binder, Representing Canadian Mortgage and Housing Corporation

Judy Binder, Representing Canadian Mortgage and Housing Corporation appears before Council and is available for questions regarding the administrative report Windsor Essex Community Housing Corporation – Meadowbrook Housing Project Update.

Moved by: Councillor Kaschak

Seconded by: Councillor Holt

Decision Number: CR372/2020

That City Council RECEIVE the Meadowbrook project update and request from Windsor Essex Community Housing Corporation; and further,

That City Council AUTHORIZE Windsor Essex Community Housing Corporation to obtain a repayable loan through CMHC’s Co-Investment Fund to a maximum of $20.5 million; debt servicing (principal and interest payments) for this repayable loan to be funded from the rental income and other revenues of this development; and further,

That City Council AUTHORIZE that a municipal guarantee be provided to Canada Mortgage and Housing Corporation for both the non-repayable and repayable loans; and further,

That the CAO and City Clerk be AUTHORIZED to execute a guarantee agreement in the form acceptable to Canada Mortgage and Housing Corporation subject to review for legal content by the City Solicitor and financial and technical content by the City Treasurer.

Report Number: C 15/2020

Clerk’s File: SS/13867