Halton Community Halton Community Housing Corporation Housing - - PDF document

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Halton Community Housing Corporation Halton Community 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

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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

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New in 2017 (continued)

• Management of New Regional Housing

Acquisitions:

• Rotary Gardens

28 Units

• Condominiums

57 Units

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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.

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• 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
• f $252,000.

Operating Highlights Non-Controllable Expense

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Operating Highlights Controllable Expense

• Increase of 4.6% in 2017.
• Materials & Services increase
• f $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.

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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

• ne 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.

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Community Development

• Key partnerships
• Community development framework
• 2017 events