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Awarded Summary

I don’t believe there would have been an official award letter for JRPL. We did however:

• provide public notice on the bidsandtenders website in July 2019 identifying the Preferred Proponent.
• following a few months of due diligence we then deemed JRPL to be the Qualified Preferred Proponent
• then in December 2021 after establishing a plan for the site and an agreement we executed it

 

Conceptually the theory of the agreement is:

• with the numerous conditions to be fulfilled, then the transaction becomes firm and binding and sets the timeframe for the transfer of parcels of land
• satisfying conditions can take years more, and the developer can elect to walk away
• mechanically:
  • once both parties are satisfied and all conditions are waived/fulfilled, we convey the land
  • CHH protects our interests by placing mortgages on the conveyed land
  • as part of the conjoined process of the design-build, once CHH has it’s building completed by the developer, we discharge the mortgages

 

For value to CHH of the transaction:

• this is dependant on the time you peg it at: at bid, at execution, at transfer, at completion for example
• also dependant on the accounting, if it is direct benefit to CHH or social benefit, which was the goal of the procurement
• at this point in time, if only capturing the direct benefit to CHH, you could reasonably peg the deal at: ($600k/unit x 46 units) $2M cash = ~$30M

 

Further dates below for reference.

• September 14, 2022 Formal appeal was filed by CNR
• August 9, 2022 OPA and ZBA approved
• June 15, 2022 ERASE Redevelopment Grant Application was approved at GIC
• December  10, 2021 Master Development Agreement executed
• June 3, 2021 Emergency and Community Services Report - HSC21011 provided Service Manager Consent to CHH to sell the Jamesville property for redevelopment
• October 27, 2020 CHH Board – Report 17007(d) approval of the redevelopment plan and Terms of Reference
• December 10, 2019 Reimagine Jamesville microsite launch for a public open house and community engagement sessions
• September 24, 2019 CHH Board – Report 17007(c) followed a period of due diligence and provided approval for the Preferred Proponent to become the Qualified Preferred Proponent, initiating the negotiation period
• July 23, 2019 Procurement Website Notice, following an evaluation of proposals, the Preferred Proponent was identified through a limited public disclosure of the Preferred Proponent’s identity being posted
• April 8, 2019 RFP C18-07-19 launched a competitive process for providing affordability through the Jamesville land offering
• December 20, 2018 CHH Board – Report 17007(b) authorized the commencement of the public offering process and approval of the evaluation criteria and scoring framework
• September 25, 2018 CHH Board - Report 17007(a) provided approval of RFP objectives, offering process, informed by the feasibility analysis.
• November 28, 2017 Affordable Housing Site Selection Committee - PED17219 provided approval of properties for disposition for the purposes of affordable housing
• July 18, 2017 CHH Board - Report 17021(a) identified the transfer of 45 RGI units from Jamesville to Bay-Cannon
• May 8, 2017 Request for Expression of Interest provided opportunity for CHH to gauge interest and understand approaches of prospective development partners
• March 21, 2017 Planning Committee - Report 17-005 includes a motion for Bay-Strachan lands to be included in the Jamesville redevelopment and for assistance in relocating the community garden