Halton Community Halton Community Housing Corporation Housing - PDF document

Halton Community Halton Community Housing Corporation Housing Corporation 2017 Operating & Capital Budget To: President and Board Members; Halton Community Housing Corporation Presented : November 29, 2016 By: Alex Sarchuk, General Manager David Trevisani, Treasurer 1 New in 2017 • One-Time Funding of $2.9 million – Social Housing Improvement Program (SHIP) • Elm Road, Oakville – roof replacement • Glen Valley Place, Oakville – roof replacement • Walker’s Fields, Burlington – roof replacement • Sheridan Garden, Oakville – roof replacement • OSCR, Oakville – domestic waterline distribution repairs – Social Housing Apartment Retrofit Program (SHARP) • John R. Rhodes Residence, Oakville – energy efficient lighting • OSCR, Oakville – energy efficient boiler replacement – Energy Retrofit Rebate for replacement of the chiller • Wellington Terrace, Oakville 2 1

New in 2017 (continued) • Management of New Regional Housing Acquisitions: • Rotary Gardens 28 Units • Condominiums 57 Units 3 Operating Highlights Revenue • Increase of 5.0% (before one time funding of $2.9M) • Subsidy increase of $365,454 due to application of MHO indices and inclusion of new condos / Rotary. • Rent Revenue increase of $662,866 with inclusion of new condos / Rotary. • Other Revenue increase of $100,314 due to increases in laundry, parking & reimbursement of insurance related repairs. 4 2

Operating Highlights Non-Controllable Expense • Increase of 30.3% in 2017 includes one time funding of $2.9M (SHIP, SHARP & Energy retrofit) • Mortgage costs are decreasing $74,471 due to mortgage renewals at lower interest rates. • Municipal taxes increasing $286,455, fully funded - no impact on bottom line. • New for 2017 are condo fees of $252,000. 5 Operating Highlights Controllable Expense • Increase of 4.6% in 2017. • Materials & Services increase of $383,041 due to an increase in contract renewal costs and additional costs associated with the AHF portfolio. • Utilities are decreasing $12,884 which reflects the actual costs over the last three years in conjunction with anticipated rate increases. 6 3

2017 Capital Budget Spending by Funding Category • Lifecycle includes $360,000 in roofing, $490,000 in heating, cooling and water distribution, $230,000 in window and door replacements, $160,000 in balcony repairs and landscaping and $360,000 for consultants. Also included in Lifecycle one time funding of $2,558,500 SHIP funding, $213,726 SHARP funding and $170,000 energy retrofit rebate bringing the total on Lifecycle projects to $4,542,226 • Property Services includes $100,000 for tree removal across several communities due to the Emerald Ash Borer disease, $100,000 for energy management and $100,000 for site accessibility work. • Unit Rehabilitation of $1,500,000 for unit turnover is projected for 2017. 7 Community Development • Key partnerships • Community development framework • 2017 events 8 4