City of Ottawa Minutes Comité des finances et des services organisationnel 2026-06-02
Tax Increment Grant Approved For 365 Forest Private
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Description
The Committee recommended approval of an Affordable Housing Community Improvement Plan tax increment grant for 11061917 Canada Inc. for 365 Forest Private. The grant is estimated at $7.82 million over 20 years, tied to affordable housing units and capped at 50% of the municipal tax increment, subject to a formal grant agreement.
Contract Details
Contract Amount
Total estimated $7,820,000 over 20 years
Vendor
11061917 CANADA INC
Agency
City of Ottawa, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
June 2, 2026
Contract Term
20 years
Renewal Date
2046-12-31
Renewal Info
Grant to be paid annually for 20 years under a CIP grant agreement, subject to program terms and affordable housing conditions; no automatic renewal beyond 20 years indicated.
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