London City Council held a special meeting Monday to speed up approval of a new supportive housing complex in hopes of getting federal funding before time runs out.
Council approved the motion unanimously, enabling them to go ahead with nonprofit developer Indwell Community Homes’ application to the Canada Mortgage and Housing Corporation (CMHC), which has only limited finances available temporarily prior to the fall federal budget.
Photo Taken: (Evan Frederiksen – XFM News)
“I arranged a special meeting so that we could bring this matter before council in a timely manner,” Mayor Josh Morgan explained. “Without council acceptance of the highly supportive housing agreement, our staff would not be able to sign the support and contribution letter for Indwell, something which they require in order to access CMHC funds.”
The rush is because CMHC funding is allocated first come, first served. City officials reported that a delay could have jeopardized the whole project if funding ran out before the fall.
Councilor Jerry Pribil was among those who spoke firmly in favor of the motion, calling it the type of housing investment Londoners want to see. “This is just the type of investment we need to support,” he said.
According to city officials, the price to build a brand-new supportive housing facility in London today is between $400,000 and $420,000. Yet the city only covers a fraction of that cost, counting heavily on senior levels of government and collaborations with nonprofits.
Photo From: (City of London)
The Indwell project will add to the 2,139 units of subsidized housing already in the city’s long-term plan, the amount of projects that have been around for more than a decade.
With secured funding and council endorsement now in place, Indwell can now move ahead with its federal application and keep the project in motion, a move city politicians believe will put more vulnerable Londoners into stable, secure homes.
