City of Ottawa Finance and Corporate Services Committee Agenda 2026-06-02
City Considers $7.82M TIEG for 365 Forest Street Housing
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Description
Ottawa plans to extend roughly $7.82 million in Tax Increment Equivalent Grants over 20 years to 11061917 Canada Inc. for an affordable housing development at 365 Forest Street. The grant program will be governed by an Affordable Housing Community Improvement Plan Agreement.
Contract Details
Contract Amount
Approximately $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 program is limited to a 20-year term with annual payments based on incremental municipal tax increases and affordable unit criteria.
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