Elderly Persons' Housing Aid Act, R.S.O. 1990, c. E.5

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Elderly Persons’ Housing Aid Act

R.S.O. 1990, Chapter E.5

Note: This Act was repealed on December 8, 2016. (See: 2016, c. 25, Sched. 2)

Last amendment: 2016, c. 25, Sched. 2.

Definition

1. (1) In this Act,

“Minister” means the member of the Executive Council to whom the administration of this Act is assigned by the Lieutenant Governor in Council.  R.S.O. 1990, c. E.5, s. 1 (1).

Grant in aid authorized

(2) The Minister may grant aid to any corporation whose objects are exclusively for charitable purposes or any limited-dividend housing corporation incorporated by or on behalf of a municipality or approved by a municipality that has had a loan made to it under the National Housing Act (Canada) to assist it in any project for the construction and equipment of low rental housing units for elderly persons.  R.S.O. 1990, c. E.5, s. 1 (2).

Amount

2. The amount of such a grant shall be calculated at the rate of $500 for each dwelling unit or 50 per cent of the capital cost of the project, exclusive of that part of the capital cost of the project that is financed by way of loan under the National Housing Act (Canada), whichever is the lesser.  R.S.O. 1990, c. E.5, s. 2.

Source

3. Grants under this Act shall be paid out of the Consolidated Revenue Fund.  R.S.O. 1990, c. E.5, s. 3.

Regulations

4. The Lieutenant Governor in Council may make regulations,

(a) prescribing the terms and conditions upon which and the manner in which aid may be granted under this Act;

(b) respecting any matter necessary or advisable to carry out effectively the intent and purpose of this Act.  R.S.O. 1990, c. E.5, s. 4.

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