PART XIILoans for Student Housing Projects
Definition of charitable corporation
87 In this Part, charitable corporation means a corporation constituted exclusively for charitable purposes no part of the income of which is payable to, or is otherwise available for the personal benefit of, any proprietor, member or shareholder of the corporation.
- R.S., 1985, c. N-11, s. 87
- 1999, c. 27, s. 16
Marginal note:Loans, etc., for student housing projects
88 (1) Subject to subsection (2), the Corporation may make loans and contributions to provinces or agencies thereof, municipalities or agencies thereof, hospitals, school boards, universities, colleges, cooperative associations or charitable corporations in respect of housing projects for students and their families, and may forgive amounts owing on those loans.
Marginal note:Provincial approval
(2) Loans or contributions may be made and amounts owing on those loans may be forgiven under this section only with the approval of the government of the province where the corresponding rental housing project is, or will be, located.
(3) Subsection (2) does not apply to loans and contributions to a province or the forgiving of amounts owing on those loans.
Marginal note:Terms and conditions
(4) The Corporation may determine the terms and conditions on which it makes a loan or contribution or forgives an amount under subsection (1).
- R.S., 1985, c. N-11, s. 88
- 1999, c. 27, s. 16
89 and 90 [Repealed, 1999, c. 27, s. 16]
PART XIIICommunity Services
Marginal note:Contributions for community services
91 (1) The Corporation may, under such terms and conditions as are determined in accordance with an agreement entered into with a province, pay to the province or any local government authority or body established by or under the law of the province contributions, in respect of each program period defined in the agreement, for the purpose of reimbursing expenditures incurred, or paying for the results obtained, in the provision, development, extension and improvement of such community services as are determined pursuant to the agreement.
Marginal note:Allocation of contributions
(2) Contributions pursuant to subsection (1) shall be allocated among local government authorities or bodies declared eligible for those contributions pursuant to and in the manner determined pursuant to the agreement referred to in that subsection.
Marginal note:Approval by Governor in Council
(3) An agreement referred to in subsection (1) shall have no force or effect unless it is approved by order of the Governor in Council.
- 1978-79, c. 16, s. 10
PART XIVHousing Development
Marginal note:Powers of Corporation
(a) acquire land or housing projects by way of purchase, lease or otherwise;
(b) install services in and effect improvements to or in respect of land acquired by it and develop and lay out the land for housing purposes;
(c) construct, convert or improve housing projects; and
(d) acquire building materials and equipment and other personal property for use in connection with housing projects.
(2) The Corporation may
(a) hold, operate, manage, heat, maintain, supervise, alter, renovate, add to, improve, repair, demolish and salvage properties acquired by the Corporation;
(b) acquire from Her Majesty the leasehold or other interest of Her Majesty in houses or housing projects;
(c) manage housing projects and provide services related to housing projects;
(d) obtain the participation of municipalities in housing projects; and
(e) enter into contracts to carry out and do other acts or things incidental to the purposes of this section.
(3) and (4) [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 27]
Marginal note:Property subject to Canada Mortgage and Housing Corporation Act
(6) [Repealed, R.S., 1985, c. 25 (4th Supp.), s. 27]
(7) [Repealed, 1999, c. 27, s. 18]
(8) and (9) [Repealed, 1992, c. 32, s. 45]
- R.S., 1985, c. N-11, s. 92
- R.S., 1985, c. 25 (4th Supp.), s. 27
- 1992, c. 32, s. 45
- 1999, c. 27, s. 18
Marginal note:Contracts with builders to encourage construction
Marginal note:Conditions under which contracts made to encourage construction
(2) A contract may be entered into under subsection (1) only with respect to houses the construction of which is assisted by loans made pursuant to this Act, and the contract shall provide that
(a) the builder shall finance the construction of the houses under the provisions of this Act;
(b) the builder shall offer each of the houses for sale at a price not in excess of the price fixed in the contract; and
(c) the Corporation shall, in consideration of the payment by the builder of such amount as the Governor in Council may prescribe, agree that any house built pursuant to the contract and remaining unsold will, within one year after the date of completion thereof, be purchased from the builder by the Corporation at a price fixed in the contract.
Marginal note:Further conditions
(3) A contract with a builder entered into under this section may provide
(a) that, during such period as the Corporation requires, the builder shall offer the houses for sale only to veterans or persons engaged in the production of defence supplies as defined in the Defence Production Act; and
(b) that such other things shall be done as the Corporation deems necessary in order to carry out the intent of this section and to safeguard the interests of the Corporation.
Definition of veteran
(4) For the purpose of this section, “veteran” means a person who had been paid or is entitled to be paid a war service gratuity under the War Service Grants Act, chapter W-4 of the Revised Statutes of Canada, 1970, and includes a person who served on active service
(a) in any of the naval or army forces of Newfoundland or, having been recruited in Newfoundland, in any of the naval, army or air forces raised in Newfoundland by or on behalf of the United Kingdom; or
(b) in any naval, army or air forces of His Majesty, other than those referred to in paragraph (a), in which the person enlisted when domiciled in Newfoundland.
- R.S., 1985, c. N-11, s. 93
- 1999, c. 27, s. 19(E)
94 [Repealed, 1999, c. 27, s. 20]
Marginal note:Loans, etc., for capital and operating costs
Marginal note:Terms and conditions
(2) The Corporation may determine the terms and conditions on which it makes a loan or contribution or forgives an amount under subsection (1), including, without limiting the generality of the foregoing,
(a) conditions with respect to the operation or occupancy of a housing project;
(b) restrictions on the disposal, leasing or charging of the project or any part of it or interest in it;
(c) limits on the amount of the financial return that may be made from the project; and
(d) provisions giving the Corporation the right to direct the use of any amount received in excess of any limits referred to in paragraph (c).
- R.S., 1985, c. N-11, s. 95
- R.S., 1985, c. 20 (2nd Supp.), s. 11
- 1992, c. 32, s. 46
- 1999, c. 27, s. 20
- Date modified: