Source Feed: City of Ottawa News Releases
Author: City of Ottawa - Media Relations / Ville d'Ottawa - Relations avec les médias
Publication Date: October 16, 2024 - 18:37
Council approves changes to its Affordable Housing Community Improvement Plan
October 16, 2024
Council today approved amendments and updates to the Affordable Housing Community Improvement Plan (CIP) that it adopted in April. The changes include:
- Clarifying the reference to the applicable average market rent
- Revising the timeline for applying to the program due to recent provincial changes resulting from Bill 185
- Setting a deadline of four years for applicants to receive an occupancy permit after their CIP application has been approved
- Clarifying that the Affordable Housing CIP Tax Increment Equivalent Grant (TIEG) program may not be stacked with other City programs that incentivize affordable units, except for other CIP initiatives
- Clarifying that the tax grant is specific to the municipal portion of property taxes and does not include reimbursing the schoolboard portion of taxes
- Clarifying that the tax increment is only established once, on the first year following the completion and assessment of the uplift
- Requiring applicants to submit TIEG payment requests and required materials by December 31 of the following year for which the TIEG is requested
- Requiring that affordable units be continuously occupied for the 20-year period
- at least one-third of the taxes levied for purposes of the general local municipality levy on rateable property in all prescribed business property classes in the improvement area
- at least one-third of the taxes levied for purposes of the general local municipality levy on rateable property in all prescribed business property classes in the geographic area the proposed by-law would add to the existing improvement area
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