Advancing Phase One of the Purpose-built Rental Housing Incentives Stream

and Treasurer, to enter into agreements, pursuant to Section 27 of the Development Charges Act, to defer the payment of development charges payable in relation to purpose-built rental units within projects approved through the Call for Applications described in Part 1 above, for as long as they remain as purpose-built rental projects containing at least 20 percent affordable units and on such other terms and conditions as may be satisfactory to the Executive Director, Housing Secretariat and in a form satisfactory to the City Solicitor. 3. City Council authorize an exemption from taxation for municipal and school purposes under the terms of the Rental Housing Supply Program for the affordable rental homes located within the developments and for the periods of time described in Table 2 in the revised supplementary report (December 17, 2024) from the Executive Director, Housing Secretariat. 4. City Council authorize the Deputy Treasurer to cancel or refund any taxes paid after the effective date of the exemption from taxation for municipal and school purposes as set out in the applicable municipal housing facility agreement (the City's Contribution Agreement).