Hastings County Council approved a draft by-law authorizing staff to create a debt-financing application for a social housing project at 20 South Street in Trenton at its meeting on Thursday.
The application of $14 million for the financing of the capital work would be brought to Ontario Infrastructure and Lands Corporation.
“Obviously, that’s a conservative ask that we have on the table with no obligations, to convert that to a debenture in 2027 when final completion and the transition is in place,” Director of Finance & Treasurer Tony Bird, said to council.
“It keeps us under our 15% debt limit, within our debt policy that we have here at Hastings.”
In January 2025, council awarded the construction tender for the the 32-unit new build to Dalren Limited.
A groundbreaking ceremony had recently been held earlier in April.
