Capital Project Report
On February 1st 2026 there was a meeting of the congregation to present a new budget for the project. The new budget included figures for projected income and construction costs. There was also a budget for projected operational income and expenses of the new apartment building.
A key element of the new budget was a funding request to the Canada Ontario Community Housing Initiative (COCHI) to cover 75% of the construction costs of four “affordable” units. This application was for $699,000. Despite receiving an enthusiastic endorsement by the Leeds & Grenville County Council we have been advised that this application was not approved by the Ontario Ministry of Housing as they received more project requests than there was funding for.
This is a significant set back that brings into question the financial viability of the project. Consequently construction work on the project will not start unless new funding can be found.