Email this pageReinstatement of the non-rental revenue incentive for Non-Profit Housing Providers for the 2002 and 2003 fiscal years
Subject: Reinstatement of the non-rental revenue incentive for Non-Profit Housing Providers for the 2002 and 2003 fiscal years
 Legislation/Regulation
 Operational
Release 03 09 |
SHB
notification release 03-02 advised service managers and housing providers of the discontinuance of the non-rental revenue incentive calculation which formed part of the Annual Information Return (AIR) with fiscal year beginning in 2001.
For fiscal years beginning in 2002 and 2003, the non-rental revenue incentive is being reintroduced as benchmarks have taken longer to complete than was anticipated at the time of housing provider transfers to their respective service managers in late 2001 and early 2002. The non-rental revenue incentive will not be retroactively reinstated for fiscal years beginning in 2001.
Non-profit responsibility
For fiscal years beginning in 2002 and 2003, housing providers should once again complete the non-rental revenue incentive page as part of their Annual Information Return submission package. Housing Providers may use the same form as was completed and submitted with their 2000 AIR. The base year for calculation purposes remains as 1995 unless the housing provider’s Interest Adjustment Date (IAD) was in 1996 or later. The incentive will be the difference between the base year’s parking and laundry plus other non rental revenue compared to the 2002 or 2003 non rental revenue earned for these same accounts.
The non-rental revenue incentive will be applied to all former Federal/Provincial and Ontario Non-Profit Housing Programs (MNP & PNP), plus the Municipal Non- Profit Housing Program (Section 56.1, Pre-1986).
For further information please contact Terry Pearce at 416-525-7349 or email to terry.pearce@mah.gov.on.ca .
Toni Farley
Director
Social Housing Branch
May 05, 2003