City of Ottawa Agenda Finance and Corporate Services Committee Agenda 2026-06-02
City targets $2.64M TIEG for Mountaineer Private housing
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Description
Ottawa proposes to grant approximately $2.64 million in Tax Increment Equivalent Grants over 20 years to 11275500 Canada Inc. for affordable housing at 601 Mountaineer Private. Payments will be governed by an Affordable Housing Community Improvement Plan Agreement tied to incremental municipal taxes.
Contract Details
Contract Amount
Approximately $2,640,000
Vendor
11275500 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 term is fixed at 20 years with annual payments capped at 50% of the municipal tax increment.
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