Redwood Park Communities hope to have funding approval for supportive housing projects by end of August: memo

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Redwood Park Communities, which builds supportive housing projects, expects funding approval from the Canadian  Mortgage and Housing Corporation (CHMC)to develop two properties in Barrie.
Back on June 28, city council approved a motion providing the agency with an interest-free loan of up to $3 million, with conditions, one being that the loan be subject to funding approval for the projects from the CMHC, according to a memo to council from Craig Millar, director of finance and treasurer, and Colleen Smith, senior manager of accounting and revenue.
“At the time of drafting this memo, Redwood Parks Communities had not yet received funding approval from the Canadian Mortgage and Housing Corporation (CHMC). However, recent correspondence form Timothy Kent, Chief Executive Officer of Redwood Park Communities, indicates they hope to have approval for one of the properties within the next two weeks,” reads the memo.
“On the second property they are hoping to have a commitment from CHMC between now and the end of August.”
The motion stipulated $1 million was to be released in the interim, with the release of additional funds to be reviewed by council. The funds would support housing projects over the next two years, and is expected to be repaid by June 30, 2023. Additional funds are on hold pending CHMC approval.
“Staff are planning to have a legal agreement in place with Redwood Park Communities ahead of any approvals from CHMC,” reads the memo.
The agency partners with homeowners to create second suites; is working with the Salvation Army to build a Family Short-Term Supportive Housing Centre: a two-storey building with 12 fully furnished, two-bedroom apartments for families in crisis; supports the United House, providing transitional housing and supports to women leaving the Barrie Women and Children’s Shelter; operates a Furniture Bank for households in need; and developed Lucy’s Place (formerly Barr’s Motel), an “innovative motel conversion” on Essa Road that welcomed its first 14 residents May 6, 2019.
“Lucy’s Place is an innovative motel conversion, creating a Housing First community out of an old motel for those experiencing chronic (long-term) homelessness. A partnership with the David Busby Street Centre, this project was made possible with Home For Good Funding from the Province of Ontario, along with funding and support from the County of Simcoe, the City of Barrie, and a multitude of tradespeople, donors, and volunteers from throughout the community. It is named after Ms. Lucy Pino – you can read more about Lucy in this blog post,” the agency says on its website.