City of Waterloo council summary October 21, 2024

** The council summary below provides a snapshot of the major items presented at Monday’s council meeting. The council meeting webcast is available on the City of Waterloo YouTube page. Please refer to the minutes for an official record of the meeting.

City of Waterloo awards first Affordable Rental Housing Grants

Staff reported that two grants have been awarded in 2024 as part of the Affordable Rental Housing Grant Program’s first call for applications. The grants, totally $375,000, will help not-for-profit organizations offset some of the capital costs of creating or retaining affordable housing units in the City of Waterloo.

Two grants were awarded in this first call:

• $345,000 to Supportive Housing of Waterloo (SHOW). SHOW has been awarded a grant to undertake detailed design and secure approvals for a 6-storey (31 affordable units) building addition to their existing building at 144 Erb Street East. The units will be a mix of bachelor and 1-bedroom units, targeted toward low-income seniors.
• $50,000 to the Central Ontario Co-operative Housing Federation (COCHF). COCHF has been awarded a grant to examine six existing Waterloo co-operatives sites, to identify opportunities to infill/add new co-op units. The study could potentially result in up to 50 new affordable housing units, which could be constructed in the future as resources permit.

A second call for applications is expected to be issued in Spring 2025.

2024 surplus-deficit projection update

As part of the City’s commitment to operational excellence and providing fiscally responsible service, the Finance team regularly works with staff to review and update on the status of the annual budget and any variances. Items that have the likelihood to vary by plus or minus $100,000 from the budget by year end are identified. Projections are monitored for property tax supported items (tax base) and user fee base items (Enterprise items), as well as Other items as per Council-approved policy. Finance staff provided an update for Council information that the 2024 projected net tax base position is a surplus of approximately $0.8M (99 per cent accurate based on the 2024 approved net property tax budget of $100,672,666), and the Enterprise areas are projecting a net surplus of $1.1M. Details on projections and departmental/divisional breakdowns are available in the staff report.

Staff will continue to monitor activities and take appropriate action within their divisions on a monthly basis as appropriate, with a final 2024 surplus-deficit allocation report by May 2025.

New neighbourhood splash pads coming to Blue Beech Link and Eastbridge Green

Council approved the funding to build two neighbourhood splash pads and washroom buildings at Blue Beech Link and Eastbridge Green. The splash pads will include shade structures and seating, and be built near existing playground equipment. Construction is expected to begin this fall, with the goal of being complete in time for the summer 2025 splash pad season.

City of Waterloo Council continues to approve applications to support housing development

As part of the City’s commitment to advance housing, City of Waterloo Council continues to approve applications and support development. Council approved the official plan and zoning bylaw amendments for a thirteen story apartment at 249 to 253 Sunview Street. The apartment will include 131 units (131 bedrooms), with 33 vehicle parking spaces and 45 bicycle parking spaces (40 indoor and 5 outdoor).

This approval aligns with the City’s Complete Community strategic priority: to advance community vibrancy through strategic density and support the provincial Housing Pledge commitment to plan for 16,000 new residential units by 2031.