PRINCE GEORGE METIS HOUSING SOCIETY 1224 HOUSTON LANE, PRINCE GEORGE, B.C. V2L 5G2 * PHONE (2S0)564-9794 FAX (250)564-9793 · www.pgmhs.com

September 17, 2014

Attention: Potential Community Partners and Stakeholders Chief and Council, Lheidli T'enneh First Nation Mayor and Council, City of Prince George Dakelh Elders Society PG Metis Elders Society Community Partners Addressing Homelessness Urban Aboriginal Working Group Northern Health

RECEIVED SEP ~ 6 201~

CITY MANAGEK'I OF-'l~~ CITY OF PRlNC! GEORGE

RE: Letter of Support request, Project Development Fund (PDF) proposal to CMHC

This letter is to request a letter of support from you for a PDF funding proposal we are submitting to Canada Mortgage and Housing Corporation (CMHC) to complete the design and details for a proposed new multi-unit development on Spruce Street.

We have completed pre-feasibility research and are now prepared to submit a PDF loan proposal to CMHC to complete design details to move to the next stage of planning and design. An executive summary of the pre-feasibility report is attached for your perusal. The report indicates the need to secure additional capital dollars and operational funding from other sources as part of the next stage of development.

One of the requirements of submitting a PDF proposal is to include letters of support from local government and other community stakeholders. Receiving a letter of support from your agency will assist us in securing the funding to complete the design details and realize the vision of providing new barrier free and visitable housing for Elders, mobility challenged, and other single accommodation needs.

We will be forming a project development committee made up of potential partners and stakeholders as we move forward . Please let us know if you are interested in participating as a member of this team.

Respectfully,

Leo Hebert, Executive Director

Cc: PGMHS Board of Directors and staff

"We provide safe, healthy, and affordable housing for Aboriginal people of all incomes, ages, and capabilities"

THIS IS JUST A SAMPLE OR AN EXAMPLE. PLEASE USE YOUR OWN WORDS OR EXPRESSION AS YOU WOULD LIKE.

17 September 2014

To: CMHC

RE: PG METIS HOUSING SOCIETY FOR PROJECT DEVELOPMENT FUND (PDF)

Please accept this letter as expression of our support to the Prince George Metis Housing Society in their proposal submission to CMHC for PDF to complete detailed design for a proposed new affordable housing development on their property located on Spruce Street.

We understand the Prince George Metis Housing Society has completed pre-feasibility research and are now prepared to begin design details for a new barrier free multiple unit development targeting Elders, mobility ehallenged individuals, and other single bedroom users.

We recognize that there is a demand for affordable single unit housing in Prince George, especially barrier free and visitable housing and are confident the development will be a timely and required addition to the affordable housing stock in the City.

Please contact me if you require further clarification.

Respectfully,

PRINCE GEORGE METIS HOUSING SOCIETY - SPRUCE ST. DEVELOPMENT - SYNOPSIS

As vacancy rates drop, rents continue to increase and incomes stagnate, finding affordable housing in Prince George is becoming increasingly difficult for those individuals and families living on a limited income, minimum wage, or seniors' fixed incomes. Prince George Metis Housing Society is taking positive action to alleviate this trend by proposing to build a new development in Prince George, BC, aimed at housing Aboriginal singles, with a focus on elders and mobility challenged people.

Feasibility Analysis: At-A-Glance • Established in 1985, the PGMHS has a long history of developing and managing units in PG • The vision is to create a 3-4 story multi-family building, with up to 30 units, on Spruce Street • Public services, amenities, schools and commercial goods are all highly accessible from this site • There will be a mix of I and 2 bedroom units, but the majority will be one bedroom units • 100% of the units will be affordable/supported • The project promotes the principles of the Official Community Plan by providing housing that meets the

needs of the whole community-especially with an aging population • The average monthly rent will be $584; this compares to average monthly market rent of$676 • The cost per square foot is assumed to be $203, which is based on the Social Housing Cost Target • PGMHS has invested $315,000 in land and have designated an additional $500,000 of Society equity to be

applied towards this project, for a total investment of $815,000 • There is a financial shortfall of around 3 million dollars • Using BC Housing required debt coverage service ratio of 1.10, the maximum mortgage for this project

would be between $1,159,252 - $2.02 million dollars

Business Plan: At-A-Glance • PGMHS has successfully secured CMHC Seed Funding and obtained the services of M'akola Development

Society to complete a feasibility report of the project • There is local support including local government and other agencies. • An analysis of the zoning bylaw indicates that a total of27 units can be located on the proposed site, if 3 lots

are consolidated.

Schedule 1. September 2014: Apply to the City of Prince George to consolidate lots 2. Oct 2014-March 2015: Funding applications/submissions/approval/commitments 3. April 2015: Prepare drawings/schedules for development permit and any variances 4. June 2015: Secure DP 5. September 2015: Prepare working drawings for pricing/tendering and building permit issuance 6. February 2016: Building permit issuance, constructing tendering/procurement 7. April 2016: Construction contract 8. May 2016: Construction start 9. August 2016: Development management, operations and tenant support service plans/policy/procedures 10. December 2016: Tenant selection process I I . January 2017: Finalize all operations plans 12. February 2017: Tenant move-in notifications/equity contribution received 13. March 2017: Mortgage issuance/tenant move-in/full operations

*The schedule in the Business Plan sets out a development schedule that assumes a BCH funding announcement in April and a 1 year process for consolidating the lots.

"We provide safe, healthy, and affordable housing for Aboriginal people of all incomes, ages, and capabilities".

Consolidate all 7 lots and demolish house. Zoning RM6/RM4.

100ft I llm I

Free and clear title by PG Metis Housing Society.

Total investment - $310,000.00 land equity.

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