|Date Issued||Effective Date|
|November 8, 2013||Immediately|
The policies and procedures in this City Guideline are to be implemented under the following programs.
|X||Housing Services Act, Part VII Housing Projects, Market and Rent-Geared-to-Income, Section 78 Housing Providers (formerly 110)|
|X||Housing Services Act, Part VII Housing Projects, 100% Rent-Geared-to-Income, Section 78 Housing Providers (formerly 110)|
|Federal Non-Profit Housing, Section 26/27|
|Federal Non-Profit Housing, Section 95|
|X||Rent Supplement Programs for Sections 26, 27, 95 and New Affordable Housing Providers|
|X||Toronto Community Housing Corporation|
Please note: If your program is not checked, this City Guideline does not apply to your project.
Under the Housing Services Act, Regulation 298, s. 50.(9), the imputed rate of return on non-income-producing assets is based on the first year interest rate of the current year’s November 1st issue of Canada Savings Bonds, rounded down to the nearest whole percentage.
The interest rate for the first year of the current November 1st issue of Canada Savings Bonds, rounded down to the nearest whole percentage, is 0%. The imputed rate of return is 0%.
As part of the income and assets review, households must still provide information to document their non-income-producing assets. However, this will not factor into rent calculations unless the imputed rate of return increases.
If you have any questions, please contact your Housing Consultant or HSS:
Housing Stability Services
Shelter, Support & Housing Administration
City of Toronto
Metro Hall, 55 John Street, 6th floor
Toronto, ON M5V 3C6