75% of the pro-rated share of capital costs of each affordable unit in the form of a 20-year forgivable loan. Similar to the IAH program, landlords are required to maintain rents at 80% of the then current CMHC average or alternate market rents for the 20 year period. Participating municipalities are required to set the property tax rate equivalent to the single residential rate for units receiving funds under this component.
The IAH and OPHI rental housing capital component programs funded by the Province of Ontario were implemented using a Request for Proposal (RFP) process through the City’s Purchasing Department. The successful proponent was recommended by an Evaluation Committee comprised of staff from Housing Services, Planning, Finance and the County of Essex. CHC applied through the City’s RFP process and received an allocation of funding for the Meadowbrook project under both the IAH and OPHI rental housing capital programs.
Meadowbrook Housing Project
On July 23, 2018 (CR437/2018), City Council approved plans for a new affordable housing development at 3100 Meadowbrook. This development proposed the addition of up to 150 new housing units in the community that would be operated by CHC, a wholly owned subsidiary corporation to the City. An Executive Committee comprised of staff from CHC as well as the City’s Finance, Housing & Children’s Services and Engineering & Corporate Project Departments was established to provide oversight to the project.
As part of the report that was brought forward on July 23, 2018 CHC obtained Council authorization to proceed with the proposed affordable housing development in order to pursue rental housing capital component funding under the Province’s Investment In Affordable Housing (IAH) Program and further received authorization to apply for a long-term repayable loan through Canada Mortgage and Housing Corporation’s (CMHC) Co-Investment Fund.
The Meadowbrook Housing project aligns with the strategies identified in The Home Together: Windsor Essex Housing and Homelessness Master Plan (HHMP) approved by City Council on December 2, 2019 (CR612/2019) under Goal 1: Sustain and Expand Social and Affordable Housing Supply. The HHMP has identified expanding affordable housing supply as a priority and a strategy to address housing needs at each stage of the housing continuum.
Since the last update report to City Council, CHC has proceeded to finalize the construction drawings and secure bids for construction costs. As noted within the discussion section, the overall cost of the project is higher than originally anticipated. However CHC, through both Federal and Provincial agencies, is working towards securing additional funding so that no further municipal equity contribution is required. To ensure that this funding is made available for the project CHC has requested the assistance of City Council (see letter attached Appendix A).