It is resolved that:
(A) Council approve a $3,000,000 (excluding GST)
cash grant to Wesley Community Services Limited to support the redevelopment of
the RJ Williams building located at 274-276 Glebe Point Road, Glebe for the
purposes of affordable housing as outlined in Attachment A to the subject
report subject to the following conditions:
(i)
Council reserves the right to
withdraw the grant offer:
(a)
if the project changes from the current proposal for subsidised
accommodation and supporting facilities consistent with the development
outlined in Attachment A to the subject report; or
(b)
if Wesley Community Services Limited are not able to demonstrate that
funding is available to the agreed value of the project within 18 months of
Council approval of this grant;
(ii) the grant funds are only to be paid when all
of the following are satisfied:
(a) no sooner than 1 July 2021; and
(b)
when a Construction Certificate for the project has been issued; and
(c)
when Wesley Community Services Limited have demonstrated that funding is
available to the agreed value of the project, either in the form of other
grants or partnerships, or through Wesley Mission Services Limited cash
reserves; and
(d)
when the applicant has provided a suitable Plan of Management for the
purposes of providing best practice affordable rental housing for the types of
tenants proposed in the application as well as engaging local Aboriginal and
Torres Strait Islander communities to ensure equitable access to the affordable
housing to be provided;
(iii) the City reserves the right to require the
$3,000,000 grant to be repaid in full indexed annually by CPI if:
(a) Wesley Community Services Limited does not
complete the development by 31 December 2025; or
(b) the project changes from the current
proposal for subsidised accommodation and supporting facilities as outlined in
Attachment A to the subject report;
(iv) the property supported though this grant
will remain as subsidised accommodation and supporting facilities as outlined
in Attachment A to the subject report in perpetuity to fulfil the aims of the
Affordable and Diverse Housing Fund, unless Council exercises a right under
paragraph (i) or (iii) above; and
(v) the City will require a covenant to be
registered on the land title to protect the land use referred to in paragraph
(iv) unless the grant funds are repaid in accordance with paragraph (iii); and
(B) authority be delegated to the Chief
Executive Officer to finalise negotiations, execute and administer a grant
agreement with Wesley Community Services Limited relating to the project
described and on the terms described in clause (A).
Carried unanimously.
S117676