Belleville city council has agreed to lend a helping hand to a well-known and reputable non-profit organization planning to build a significant number of affordable apartments.
Aldersgate Homes is working with Hastings County and the Canada Mortgage and Housing Corporation to build an 88-unit seniors’ building on its property off Avondale Road in the city’s west end.
Under the city’s usual site plan agreement regulations, it asked Aldersgate Homes to up-front $1.2 million as a security deposit to cover costs should Aldersgate fail to meet the construction requirements in the plan.
In a letter to council Aldersgate Homes says, as a non-profit, it was impossible to come up with that much money and offered $100,000 instead.
It offered some of its land as a surety, however, council approved the $100,000 cash without any mention of taking land as a surety.
