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HomeMy WebLinkAboutBy-law 383/76THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NUMBER ..3 Y,317k Being a By-law of the Corporation of the Town of Pickering to authorize the execution of an agreement between Ontario Housing Corporation and the Town of Pickering with respect to the financing of the provision of 36 Senior Citizens Units (Lot 20 and Block N, Plan M-998) THE COUNCIL OF THE CORPORATION OF THE TOWN OF PICKERING HEREBY ENACTS AS FOLLOWS: 1. That the Mayor and Administrator-Clerk be authorized to execute an agreement between Ontario Housing Corporation and the Corporation of the Town of Pickering with respect to the financing of the provision of 36 Senior Citizens Units known as Project Number Pickering OH-1 (Lot 20 and Block N, Plan M-998) By-law read a first, second and third time and PASSED this day of 1976. T Mayor Administrator-Cle k 3 e?1 76 Project No. Pickering on-1 36 S.C.U. EXXXXXXXOMMOXSENIOR CITIZEN UNITS This Agreement made in duplicate this day of A.D. 19 B E T W E E N ONTARIO HOUSING CORPORATION ^ (hereinafter called e Corporation') OF THE FIRST PART - and - THE CORPORATION OF THE TOWN OF PI KER NG ere na ter ca a Manic pa ty ) OF THE SECOND PART WHEREAS by virtue of the provisions of The Ontario Housing Corporation Act, Revised Statutes of Ontario, 1970, Chapter 317, and The Housing Development Act, Revised Statutes of Ontario, 1970, Chapter 213, the Corporation may enter into agreements respecting the acquisition and development of land for housing purposes and for the acquisition and/or construction of housing accommodation for sale or for rent; AND WHEREAS the Municipality has requested, and the Corporation has agreed to provide, operate and manage housing accommodation of approximately 36 amldclC*enior citizen housing units on lands situate within the Municipality; AND WHEREAS the Municipality has on the day of A.D. 19 , passed By-law no. , authorising the entering into of this Agreement. - Page 2 - AND WHEREAS to assist in the provision, operation and mainten- ance of the said housing accommodation, the Corporation has entered into negotiations with Central Mortgage and Housing Corporation for the purpose of obtaining a loan and annual contributions under the provisions of Part VI of The National Housing Act, Revised Statutes of Canada, 1970, as amended; AND WHEREAS to further assist in the maintenance and operation of the said housing accommodation, the Municipality has agreed to contribute toward the operating costs thereof; eokll NOW THEREFORE THIS AGREEMENT WITNESSETH THAT each of the parties hereto on behalf of themselves and their respective successors and assigns, in consideration of the premises and of the mutual covenants hereinafter contained, covenant and agree, each with the other, as follows: 1. For the purposes of this Agreement: (a) "Gross Revenue" means the rental revenue earned by the Corporation in the operation of the housing accommodation project in each calendar year, and T (b) "Operating Expenses" means the total of: recorded on either a cash or accrued basis. (i) Amounts paid by the Corporation to Central Mortgage and Housing Corporation for principal and interest in repayment of monies loaned to the Corporation for the provision of the above recited housing accommodation. (ii) Amounts paid by the Corporation to the Treasurer of Ontario in repayment of monies advanced for the provision of the said housing accommodation, including interest on such advances at the rate of 10 • per annum. - Page 3 - (iii) Amounts paid in any calendar year by the Corporation to the Municipality as grants in lieu of taxes in connection with the housing accommodation, pursuant to the provisions of clause 3 following. (iv) Fire insurance premiums, if any, or amounts paid by the Corporation in any year, pro-rated on a Province-wide per unit basis, for losses due to fire, wind or vandalism. (v) Liability insurance premiums. (vi) Amounts paid for labour and services including, but without limiting the generality of the foregoing, wages, salaries, workmen's compensation and other fringe benefits. (vii) Amounts paid for equipment, supplies and materials used in repairing, maintaining, managing and administrating the housing accommodation. (viii) Amounts paid by the Corporation, without reimburse- ment by tenants, for light, fuel, power and water. (ix) Uncollectable revenue that has been written off by the Corporation. (x) other direct and indirect operational costs agreed to in writing from time to time between the Corporation and the municipality. (c) "operating Loss" means the net of operating expenses lean r gross revenue applicable to the project commencing from the date of initial occupancy of the project and reported on a calendar year basis. (d) 'Operating Profit" means the net of gross revenue less operating expenses applicable to the project commencing from the date of initial occupancy of the project and reported on a calendar year basis. 2. The Corporation agrees to provide, operate and maintain gma*"ssnior citizen housing accommodation on lands in the Municipality described in Schedule "A" annexed hereto, which, when completed, will comprise approximately 36 housing units. The Municipality will be under no obligation or liability to contribute to the capital cost of the said housing accommodation, - Page 4 - _ nor, save as hereinafter provided, to the cost of r_,pcraating and maintaining same. The parties hereto furt3.I-r a rsn that thm Municipality shall not be entitled to rm.:*_ivz ctr :a)a?re in any profits or other increments from the proj?--t. 0-, nr<aating profits shall, however, be dealt with in the i°!: FS c:r c? rc _`sa in clause 4. 3. (a) The Corporation shall make to t hz^ an annual payment in lieu of taXeD oil the a;: an ammount equivalent to full normal tax.ce for e*n a'^?. wring the currency of this agreement. Pa..:ment ??.^ll be irade at the same time or timas as full normal be paid, eON provided that no payment in lieu of ^ i 3 'ao easdo in respect of the period prior to thn cams aal..ct:i en <rd initial occupancy of each building. luny refuwl r?rioin4 therefrom shall be in the form of a reduction of payt,'mnt in lieu of taxes in the year subsequent to thfa c,• le.;. j::;: T(,,nr in which the over-payment was made. (b) Subject to the provisions ox The Local Improvement Act as to the replacement of serviced, tl.^ tlun(.cipality agrees that no municipal taxes, rates or charger, shall be levied or charged against the lands of the Corporc,vi.cn in respect of the housing acco=.odation project co to<II9 it in owned by the Corporation, and no payment in lieu thoreof shall be made in respect of the period prior to the oUcug.,ancy of each building or group of buildings as Mfore a<aa9 inac ad, (c) The Municipality agrees that no .,;taraic.I.,,p l). taus, rates or charges (but not including business ta^ns..oas, poll ta=gs dog taxes, water rate* or hydro ratan) shall bm levied or charged to the tenants or occupaants of °'_h : lacuaing accommodation units within the projcf,,t, oo long ass such unite are owned by the Corporation. - Page 5 - (d) The Municipality further agrees to provide or cause to be provided to such tenants or occupants all facilities and services that are provided t ther property owners o or Vrsuant to Subsection 10 of tenants in the Munieipality?icnoc?xxidx?c?cac3ixaixxxJtx Section 6 of The Housing Development Act, R.S.O. 1970, ?lTecag9ne?'?S?ttti???cX1Cw't4CY:?CZC??N?7i2C?tX?c%k}ic??{ Chapter 213, as amended 1974, Chapter 31, Section 4. 4. The Municipality shall pay to the Corporation on or before the 30th day of June in each year a sum equal to seven and one- half percent Ph%) of the operating loss, if any, of the said housing accommodation project for the preceding calendar year, to the extent of such loess not being fully provided for by any previous profits reserved as sot out below. The Corporation shall calculate the amount of the operating loss, if any, and notify the Municipality in writing of the amount thereof on or about the 30th day of April in the year in which such payment shall be made. Should the Corporation accumulate an operating profit on the project for any period, it shall be retained in a reserve account to be applied against future operating losoes. 5. The Municipality shall have the right, through its servants, agents or auditors, at any time, upon reauonable notice to the corporation, to examine the books and records of the Corporation and, in the event that at any time the Municipality disputes the amount claimed by the Corporation under paragraph 4 hereof, and the " parties hereto cannot resolve such dispute, the Municipality and the Corporation shall refer such dispute to a third party acceptable to each of them, and the decision of such third party shall be final and binding on both parties hereto. 6. This Agreement shall remain in force for as long am tII:s Corporation shall continue to operate the housing accommodation as a public housing project a® definod in Part VI of the National Y - Page 6 - Housing Act, Revised Statutes of Canada 1970, and subject thereto, shall enure to the benefit of and be binding upon the parties hereto, their successors and assigns. Provided, however, that neither party to the Agreement shall assign the Agreement without the written consent of the other party first had and obtained. IN WITNESS WHEREOF the parties hereto have hereunder affixed their corporate seals under the hands of their proper signing officers duly authorized in that behalf. ONTARIO HOUSING CORPORATION Per ..... .. .. ....... (Vice-Chairman) Per ...... ........ ............ (Secretary) THE CORPORATION OF THE TOWN OF PICKERING i Per .......... ....... SCHEDULE "A" TO AGREEMENT dated day of , A.D. 19 B E T W E E N: ONTARIO HOUSING CORPORATION - and - THE CORPORATION OF THE TOWN OF PICKERING toN LAND DESCRIPTION ALL AND SINGULAR that certain parcel or tract of land and premises situate, lying and being in the Town of Pickering, in the Regional Municipality of Durham and being composed of the whole of Lot 20 and Block N, according to a Plan filed in the said Land Registry office as Number M-998. r