1. Current BCA, IF NOT ALREADY AVAILABLE, including the table of building components showing cost, condition, normal useful life, replacement timing for each component.
- Old Grace Housing Co-op – Reserve Fund Study Narrative Report – Final Version
- Old Grace Housing Co-op – Reserve Fund Study Cost Table Package – Final Version
2. Current replacement reserve plan based on the BCA, IF NOT ALREADY AVAILABLE – if this is not available as part of a BCA update, please provide current reserve fund balance (as of last FYE) and the current annual contribution.
We do not have a replacement reserve plan. Our fiscal year ends on December 31. At December 31, 2021, we had $150,362 in the capital reserve fund (figure from audited statement). The budgeted contribution for 2022 was 45,452. The budgeted contribution for 2023 is $48,757.
As of November 30, 2022, we had $197,173.42 in the fund. Of this
- $97,173.42 is in a high-rate savings account,
- $33,333.33 is in a GIC that 2.8 pays and matures on June 15, 2023
- $33,333.33 is in a GIC that 3.1 pays and matures on June 15, 2024
- $33,333.34 is in a GIC that pays 3.4 and matures on Jun 15, 2025
3. Any other technical study or market rent study that has been done for the co-op in the past.
No market rent studies have been conducted for the co-op.
4. Current capital plan or capital budget (for next year, or multi-year plan), if the co-op has one.
OGHC Does not have a capital plan.
5. A preventive maintenance plan, if the co-op has one.
OGHC does not have a formal preventative maintenance plan.
6. List of all capital repair work done since the BCA was prepared, if BCA more than 6 months old.
The BCA is less than six months old.
7. Last 3 years audited financial statements.
8. Current year budget and actual year to date.
- 2022 Operating Budget in Detail Downloadable PDF
- 2022 Operating Budget in Xcel
- Consolidated Statement to end of October 2022
9. Current housing charges for each unit type.
Bedrooms | Monthly Housing Charges | Number of each type |
1 | $944 | 16 |
2 | $1,196 | 23 |
2 (Small) | $1,061 | 1 |
3 | $1,267 | 20 |
4 | $1,440 | 4 |
10. Information about last 3 years’ use of rent supplement funds or income-tested assistance – how many households, average amount received, etc.
Rent supplement information can be found here.
Rent Supplement Agreements with the Manitoba Government
11. Current operating agreement, any amendments to the term of the agreement, any workout agreements, any rent supplement agreements (for ILMs and Section 61s).
12. FCHI-2 agreement.
OGHC does not have a Federal Community Housing Initiative Phase 2 Agreement.
13. Current lender, interest rate and term renewal date for all financing including workouts.
We have a 35-year mortgage with ACU with a five-year term and an interest rate of 3.07 percent. The term ends in April 2026. The mortgage commenced in 2018. We are required by our mortgage to have an overall operating surplus of ten percent of our mortgage payments (principal and interest) at the end of each year.