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M.D. approves first steps of debenture for TDHF

Posted on April 6, 2022 by Taber Times

By Cole Parkinson
Taber Times

It’s been a long road to get to this point for the Cherry and Main affordable housing project in Taber, but it looks its starting to pick up momentum. After Taber and District Housing Foundation (TDHF) presented to Town of Taber council on March 14, town council had carried a motion to direct administration to work together with the M.D. and TDHF on a suitable cost-sharing solution for the affordable apartment funding concerning a debenture. M.D. council discussed the TDHF debenture during their March 22 meeting with TDHF CAO Tim Janzen present to answer any questions.

Council was presented with two different options in terms of debenture. Option one was for high efficiency with a total of $10.1 million and a $2.05 debenture while option two is net-zero with a total cost of $11.2 million and a $1.46 million debenture.

“From the Town, if the M.D. was to split it, they would split it. Is that correct?” asked Reeve Merrill Harris.

“Yeah, but I do have to qualify that those were discussions on an administrative level. I can’t speak for the will of either council,” responded CAO Arlos Crofts.

Deputy Reeve Tamara Miyanaga, who also sits on the TDHF board of directors as the M.D. representative, explained to the rest of council why this project will bring plenty of benefits to the area.

“Not only will this enhance our community with affordable housing and some opportunities for commercial, when you put forward a building like this, it not only secures some first basic needs of housing, but it also is an economic driver for a community. Not only in the build, but in the operation and what those community members who may live there bring to it and those who work there will bring to our community. At this time, we are at the point where we have to find a way that we’re going to fund it.”

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