City of Ottawa Agenda Finance and Corporate Services Committee Agenda 2026-06-02
City plans $7.82M TIEG for Forest Street project
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Description
Ottawa plans to provide approximately $7.82 million over 20 years in Tax Increment Equivalent Grants to 11061917 Canada Inc. to support affordable housing at 365 Forest Street. The grant will be formalized through an Affordable Housing Community Improvement Plan Agreement.
Contract Details
Contract Amount
Approximately $7,820,000
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 term is fixed at 20 years with annual payments capped at 50% of the municipal tax increment.
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