Regulation - LGIC
A transfer from Kingston Municipal Non-Profit Housing Corporation to Kingston & Frontenac Housing Corporation of any interest in real property set out in the Table to the paragraph, together with the assets, liabilities, rights and obligations related to the ownership or operation of the real property
Regulation Number(s):
O. Reg. 478/21: GENERAL
Instrument Type:
Regulation - LGIC
Bill or Act:
Housing Services Act, 2011
Summary of Decision:
The City of Kingston has requested an exemption from the Land Transfer Tax, as authorized under the Housing Services Act, 2011, for the transfer of seven social and affordable housing properties from the Kingston Municipal Non-Profit Housing Corporation to the Kingston & Frontenac Housing Corporation.
Analysis of Regulatory Impact:
There are no regulatory impacts as a result of the regulation amendment. Exemption of the Land Transfer Tax is authorized under the Housing Services Act for transfers of designated social housing properties. A regulation is required for this to take effect for the specific properties being transferred.
Further Information:
Housing Services Act, 2011
Proposal Number:
21-MMAH013
Posting Date:
Summary of Proposal:
As authorized under the Housing Services Act, 2011, the City of Kingston has requested exemption from the Land Transfer Tax for the transfer of seven properties from Kingston Municipal Non-Profit Housing Corporation to the City-owned Kingston & Frontenac Housing Corporation. In 2019, Kingston Municipal Non-Profit Housing Corporation was declared to be "in difficulty", and subsequently the decision was made by the City, as Service Manager under the Housing Services Act, 2011, to transfer the properties to the City-owned Kingston & Frontenac Housing Corporation in order to preserve the units and protect tenants.
Contact Address:
Community Housing Policy Branch
Ministry of Municipal Affairs and Housing
777 Bay Street - 14th Floor
Toronto, Ontario
M7A 2J3
Ministry of Municipal Affairs and Housing
777 Bay Street - 14th Floor
Toronto, Ontario
M7A 2J3
Effective Date:
July 1, 2021
Decision:
Approved