10 am Meeting room

Acceptance of agenda

Acceptance of previous meeting notes

Upcoming challenges

Housing charge scenarios

The following table sets out the implications of a range of mortgage costs. The rate of 4.95 is what ACU would have charged us if we had to renew in March.

2026	New Monthly cost	2026 total payment	Increase in dollars	Housing charge increase in percentage
4.95 mortgage rate	48425	553320	83340	0.088265198
4.7 mortgage rate	47125	541620	71640	0.075873756
4.2 Mortgage rate	44,590	518805	48825	0.051710443
3.7 Mortgage rate	42,293	498132	28152	0.029815717

The above calculation takes into account the fact that the new mortgage would not come into effect until April.

The following table shows the full year figures.

2027	New Monthly cost	2027 total payment	Increase in dollars over 2025	Housing charge increase in percentage (based on 2025 rate)
4.95 mortgage rate	48425	581100	111120	0.117686931
4.7 mortgage rate	47125	565500	95520	0.101165007
4.2 Mortgage rate	44,590	535080	65100	0.068947257
3.7 Mortgage rate	42,293	507516	37536	0.039754289

Capital reserve commitment

The following table sets out the recommended contributions to the replacement reserve in the building condition assessment and the asset management plan. (The BCA provides three scenarios.) Also included is our record of contribution to date. The 2025 figure is the budgeted figure. While our contributions to date have been slightly higher than recommended, in coming years the rate of recommended contribution jumps rapidly. The most modest rate (the asset management plan) would require a one per cent a year increase in housing charges annually.)

Year	Actual contribution	CHF Asset Management Plan	BCA Scenario 1	BCA Scenario 2	BCA Scenario 3
2022	62,279	47,610	45,452	45,452	45,452
2023	64051	48,758	48,757	48,757	48,757
2024	54803	51100	48,757	48,757	61,257
2025	54968	59600	48,757	48,757	73,757
Total	236,101	207,068	191,723	191,723	229,223

2026		70,400	48,757	90,757	86,257
2027		81,500	48,757	90,757	98,757
2028		92,800	128,757	90,757	111,257
2029		104,400	128,757	132,757	123,757
2020		116,000	128,757	132,757	136,257
Total		465,100	483,785	537,785	556,285

Rent controls

The following table shows the allowable rent increase since OGHC opened.

2019	2.2
2020	2.4
2021	1.6
2022	0
2023	0
2024	3.0
2025	1.7

Financial Reports

The February Financial Reports have not yet been received. They will be circulated upon receipt.
The CHF checklist has not been updated.
The consolidated financial report has not yet been received. I will send out a link when it is up.

Audit

At the May Membership meeting it will be necessary to appoint an auditor for the following year. The normal practice would be to go to market in 2026.

When a draft audit is ready, we will hold a joint meeting of the board and the finance committee with the auditor.

Move-in/move-out

No notices were given as of March 25.

Waiting list

Applications to waiting list January 1 to March 25: 22

Withdrawals from waiting list January 1 to March 25: 1

Investments

The following table will appear in all Finance Committee Agendas. It summarizes our investments. Investments that mature in 2025 are in boldface.

Operating	Amount invested	Date of maturity	Interest rate
883	37,159	16-Sep-27	5
925	35,974	16-Sep-26	4.95
796	8,734	July 21, 2027	4.8
804	8,729	21-Jul-25	4.75
838	8,718	21-Jul-26	4.6
050	17,402.91	16-Sep-27	4.3
068	17,402.91	16-Aug-28	4.3
	134,120
Capital replacement
474	35,830.06	2026-06-15	4.55
516	35641	15-Jun-25	3.4
116	17,468.00	21-Jul-27	4.8
132	17460	21-Jul-25	4.75
140	17435	21-Jul-26	4.6
388	40,000	Mar 03, 2026	3.75
	163,834

Share redemption fund
327	143,331	14-Jul-25	4.95

Arrears

As of the end of February, we had $2,420.00 in housing charge arrears. There is an arrears payment plan in place.

Capital costs to the end of February

The following table shows the items capitalized in 2025.

Date	Amount	Service	BCA Number

Calendar

Audit completed and presented to the board and then to membership in May.

Three rent supplement agreements expire in April.

New business

Next regular meeting

Tuesday, May 6, 2025

Coming/deferred issues

These are issues that are not being addressed now, but we should consider them in the future.

Investigate extension of lease.

Member initiative Fund

Encasa