City of Ottawa Finance and Corporate Services Committee Agenda 2026-06-02
$2.64M Tax Increment Grant Proposed for 601 Mountaineer
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Description
The City intends to grant approximately $2.64 million in Tax Increment Equivalent Grants over 20 years to 11275500 Canada Inc. for an affordable housing project at 601 Mountaineer Private. The financial incentive will be formalized through an Affordable Housing Community Improvement Plan Agreement.
Contract Details
Contract Amount
Approximately $2,640,000 over 20 years
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
TIEG runs for a fixed 20-year term with annual grant payments tied to incremental municipal tax increases and affordable unit performance.
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