The 20 affordable housing project in Petite-Rivière-Saint-François costs $9,726,158.
The city received an additional $1.2 million from the Société d’habitation du Québec, $1 million of which came from another federal grant of $1,000,000. This amount has not yet been determined. The vice president of the SHQ hopes to confirm it in a few days, said the city director Stéphane Simard.
The MRC of Charlevoix is giving $200,000 from its wind energy fund to this project, the city also announced.
The project received $6,553,000 in grants. A mortgage of $2,128,000 will be issued by the NPO. The city’s contribution was $1,043,000.
The city will draw about $750,000 from its accumulated surplus or working capital to pay its share.
That’s not all. Let’s remember that the City donated the two lots worth $290,000 to do the project. We also need to add $540,000. This amount is equivalent to a tax holiday lasting 10 years. The city would also finance up to $14,400 per year for a maximum of 5 years for the rental assistance measure.
The city also has to pay for infrastructure work for Rue du Quai and Rue du Couvent. $1,070,000 worth of work eligible for Quebec funding.
The six buildings will offer 14 apartments of 4½, 4 of 5½ and 2 of 3½. 10 to 16 will be low cost housing and 4 to 10 will be affordable housing.
Affordable and low-cost housing has been considered since 2019. Studies from Public Health and Laval University clearly indicated this need, recalls the general director in his presentation.
The mayor of Petite-Rivière-Saint-François gave an interview after the meeting.
2024-11-05 00:49:00
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