One of the affordable housing providers in St. Thomas is encouraging the city to adopt the province’s new affordable housing property tax subclass.
Jon McCurry, CEO of Eastwood Housing Corp. has written Mayor Joe Preston advising that if the city were to adopt the provincial subclass, property taxes could be reduced by as much as 35 per cent for eligible new and affordable rental units.
McCurry notes the savings would help organizations like Eastwood keep rents affordable and reinvest in their properties and supports for tenants.
Eastwood is constructing a five-storey, 82-unit complex known on Highview Avenue and has an inventory of 325 units in 11 properties across St. Thomas and Elgin.
McCurry’s letter is on today’s (Tuesday) city council agenda, with the meeting getting underway at 5 p.m. in the council chamber at city hall.
Written by Ian McCallum
