Title
AFFORDABLE HOUSING REQUEST - RIVERBANK HOMES LTD.
R. Jones provided a brief overview of the Riverbank Homes Ltd. development site and introduced T. Neeb, President of Riverbank Homes Ltd.
R. Jones advised that Riverbank Homes Ltd. was the successful proponent in an RFP with its proposal to construct 32 units of affordable housing (38 apartments in total) on 429 Blake Street and as a result, is the recipient of funding through the Affordable Housing Program (AHP) for Simcoe County. He noted that under the terms of the AHP, the housing must remain affordable for a minimum of the next 20 years.
R. Jones advised that the development was in the site plan review stage and there are no zoning by-law variances required. He commented that construction was scheduled to commence in the fall with the building be closed in prior to winter to allow for construction to occur during the winter months.
T. Neeb advised that Riverbank Homes Ltd. has developed 15 affordable housing sites in the Province of Ontario over the last 15 years. He noted that the buildings provide low income seniors and persons with disabilities with safe, accessible and affordable housing. T. Neeb commented that the Federal and Provincial Governments recognize the need for affordable seniors housing and have provided funding through Requests for Proposals. Riverbank Homes Ltd. was approved by Simcoe County to develop the 429 Blake Street site.
T. Neeb commented that other municipalities have contributed to affordable housing projects in some way. He noted that the nature of the Federal and Provincial proposal call did not allow enough time for Riverbank Homes Ltd. to apply to the City of Barrie for some assistance ahead of time. T. Neeb advised that Riverbank Homes Ltd. is seeking funding assistance for the project from the following sources:
* Deferral of the development charges fixed at today's rates for twenty years and/or for the duration of the AHP agreement entered int...
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