Email this page2007 Section 106 – Annual Cost Indices for use by 100% RGI Housing Providers – Regulation Amendment
Subject: 2007 Section 106 – Annual Cost Indices for use by 100% RGI Housing Providers – Regulation Amendment
Legislation/Regulation Release 07-03
Operational
As per Ontario Regulation 339/01, Section 32, this notification of the annual cost indices is to be only used by Section 106 (100% RGI housing providers). The cost indices are reviewed annually and adjusted in accordance with changes in the Consumer Price Index for costs as they relate to projects heated by either electricity or natural gas. The percentage increase will be updated and published annually in Table 3 of O.Reg.339/01.
Non-Profit’s Responsibility
All Section 106, 100% RGI non-profit housing providers must use the cost indices specific to their service manager area as listed in Table 3 of O.Reg.339/01. These cost factors are used in the calculation of operating subsidy requirements for the 2007 fiscal year. The formula for determining subsidy is found in Section 106 (2) of the Social Housing Reform Act, 2000.
The indices were adjusted to more accurately reflect the distribution of operating costs between the utility components of hydro and gas and the balance of a Section 106 (2) housing provider’s individual operating costs.
The amendment to Table 3 of O.Reg.339/01 was filed on May 4, 2007 and becomes effective on that date.
If you have any questions, please contact Terry Pearce, at 416-585-7349, or by e-mail terry.pearce@ontario.ca .
Rosalind Lerman
Director
Housing Finance Branch
June 26, 2007