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Motion for Special General Meeting:
Whereas CMHC has confirmed that Sunnyhill is eligible for funding under the Federal Community Housing Initiative to assist members with housings costs greater than 30% of household income
It is resolved that Sunnyhill accept this offer as a supplement to our existing internal subsidy program.
Background:
This would be a Special Resolution, requiring a two-thirds vote of members present for a general meeting. The motion could be amended or withdrawn depending on which of three possible scenarios (outlined below) receives majority support from members attending the special general meeting.
In August, Sunnyhill received confirmation that we were eligible to receive funding from CMHC under the Federal Community Housing Initiative. The funding is to be used to assist low-income households with their housing costs to ensure that no household pays more than 30% of its income on housing charges plus heating (natural gas).
To receive the funding, Sunnyhill will have to make an annual income report to CMHC including individual income declarations from the households receiving funding. Sunnyhill would have to show how we distributed the funding to the eligible members.
Sunnyhill has until September 30th to accept the funding for the current year. Accepting could provide significant additional revenue to Sunnyhill--tens of thousands of dollars annually.
As a result, members need to consider the following three scenarios.
Sunnyhill accepts the funding and suspends its internal subsidy program until the funding is no longer available. (Note that this option might complicate and negatively affect our current redevelopment negotiations with the City and funders.)
Sunnyhill accepts the funding but maintains its internal subsidy program and uses the funding to increase the subsidy for households that would still be paying more than 30% of their income on housing and heating. (Planning and Development Committee recommends this option because it would not further complicate our redevelopment plans.)
Sunnyhill refuses the funding and maintains its current subsidy program. (This option would negatively affect those members currently spending more than 30% of income on housing and heating.)
We advise members to study the attached documents outlining how the program works and what assistance is being offered. The pros and cons of the program will be discussed at the general meeting prior to voting.