8.3. Relief from Property Taxation 2019 - Extreme Poverty and/or Sickness - City Wide
Moved by: Councillor Holt
Seconded by: Councillor Kaschak
Decision Number: CR489/2020
That City Council ACCEPT Administration's recommendation with regards to approval of twelve (12) applications for a total tax relief of $22,053.31 (inclusive of education portion); and,
That City Council SUPPORT Administration’s recommendation with regards to the denial of ten (10) applications for tax relief.
Carried.
Report Number: C 175/2020
Clerk’s File: AF2020
8.4. Approval to Execute an Agreement Under Section 27 of the Development Charge Act - 1600 Lauzon Rd.
Moved by: Councillor Holt
Seconded by: Councillor Kaschak
Decision Number: CR490/2020
That Administration BE DIRECTED to prepare an agreement(s) with Farhi Holdings Corporation pursuant to Section 27 of the Development Charge Act with regards to the payment of development charges (DCs) for the multiple dwelling buildings to be constructed on the site located at 1600 Lauzon Road; and,
That the agreement(s) contain the following specific terms and conditions:
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The agreement(s) will relate to the proposed seven (7) multiple dwelling residential buildings only;
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Amount of DCs payable for each building will be calculated as of the date of issuance of a building permit for each building;
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Payment of the DCs will be due in full on the date which is the earlier of:
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When each building occupancy has reached 85% or
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Delivery of the MPAC Notice of Assessment to the owner which includes new assessment for each residential rental building;
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Should there be a sale of the units or of the property or advanced offering of rental of the units prior to the DCs becoming due and payable, the DCs will immediately become due and payable;
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Agreement(s) cannot be assigned by the owner;
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Payment deferral will be secured by an irrevocable Letter of Credit issued to the City in an amount sufficient to cover both the DCs and estimated applicable interest;
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The Letter of Credit will also include an annual auto renewal clause;