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26 -- PORT PERRY STAR -- Tuesday, January 20, 1987 School Board looks at debenturing option Realizing that the Durham Board of Education would face, in 1987, an increase in the elementary Capital Expenditure. of 125 percent over 1986 figures, an Ad Hoc Committee was : formed to discuss and advise the Board on debenturing as a possible means of raising the local share of these required funds. 'The Committee consisted of Board officials, trustees Cathy O'Flynn (Chairperson), Louise Farr and Gary Kitchen, and former Board Chairpersons Stan Lovell, Milt Mowbray and Alex Williamson. The group met on three separate occasions to investigate and review possible solutions to the Board's in- "creased financial responsibilities in 1987 and the coming years. Rapid - growth in Durham has necessitated the construction of many new elementary schools (four in 1987 alone), as well as additions and renovations to existing structures and the purchase of portables to ac- . commodate the influx of students. The Committee estimated that the total elementary Capital Expen- diture for 1987, less grants and transfers from reserves, would ex- ceed the maximum allowed by the Education Act to be raised from Local Levies. For a number of reasons, in- cluding the fact that debenturing would commit ratepayers and future Boards to a long-term (up to 15 year) high interest schedule of re- payments, the Committee decided to reject the option. As: an alter- native, the Board will be asked to consider controlled increases to the Local Levy over the five year period 1987-1991, as a more satisfactory method of meeting its increased financial obligations. This solution would make effec- tive use of the Board's reserve ac- count by allowing the Board to bor- row on a short-term basis to cover shortfalls in 1987 and 1989, at a more favourable interest rate than either debenturing or borrowing from the bank. As well as committing the Board to a much shorter term of obligation, the plan for controlled in- creases to the Local Levy will save the Board and ratepayers a substan- tial amount on interest charges. "To the average taxpayer with a home assessed at a value of $5,000. it is estimated by the Committee. 'that the increase to property taxes in 1987 will be in the neighbourhood of $7.08, or less than a 1 percent in- creases on the education portion of property taxes for 1986. This amount will be in addition to any increases to the Local Levy deemed necessary ~ by the Finance Committee in the setting of the Board's 1987 Budget. Members of the Ad Hoc Commit- tee feel confident that they are pro- tecting the interest of Durham ratepayers by recommending this "course of action to the Board. A «more responsible method of meeting the Board's financial obligations, thecontrolled increases "to the Local Levy will greatly assist the Board with insuring 'quality education today - for tomorrow,' by providing additional critical space for-its growing student population. RENT REVIEW UPDATE FROM THE MINISTRY OF HOUSING Important messageto Ea tenants and landlords of rental units first occupied after 1975. AY The Residential Rent Regulation 3 -n the past, tenants living in units which first came on the market after 1975 -- post-'75 units - were not protected by rent review. . Under the new legislation, tenants living in post-'75 units are now protected by rent review along with all other tenant in private rental units in Ontario. As well, the provisions extending rent review to cover post-'75 units are retroactive to August 1, 1985. oo This means that the four per cent Guideline which was in place from August 1, 1985, to "December 31, 1986, applied to post-"75 units during this period. oo Thus, landlords who charged tenants of post-'75 units more than the four per cent Guideline during this period must now justify those rent increases or refund to tenants the difference between four per cent and the higher amount charged. Tenants in post-'75 units: do not make immediate deductions from your rent. For the present, tenants living in post-"t5 units should pay the amount requested in the notice by their landlord until the matter is resolved to cover all tenants in 'private re mobile homes and mobile home sites Tenants in post-"75 units: obtaining a rent rebate. . o If the landlord of a posi-'75 unit has not made an application to rent review by March 2, 1987, the tenant is entitled to a rebate of rents paid above the 4 per cent.Guideline between August 1, 1985, and December 31, 1986. o [f the landlord does not voluntarily pay the tenant the rebate owing, the tenant is advised to file an application with. the local Rent Review Office for an order requiring the land- loid to-pay-therebate. Act, 1986, extends the protection of rent review ntal units in Ontario. This includes buildings, first occupied as rental units after 1975. Landlords of post-"75 units who have already served notice of a rent increase above the 1987 Guideline: Under the new legislation, the Rent Review Guideline for the year 1987 is 5.2 per cent. \ Some landlords of post-'75 units have already served tenants with notice of a rent increase effective on or after January 1, 1987. which exceeds the 5.2 per cent Guideline. "These landlords also have until March 2. o If the tenant is certain of the amount of the rebate, the tenant may deduct the amount from 72 a rent cheque. Requirements for landlords of post-"75 units. e Landlords who have charged tenants more than the 4 per cent Guideline from August 1. 1985, to December 31, 1986, have until March 2, 1987, to apply to rent review to justify these rent increases. : e To apply, a landlord must file an application form and supporting information with the local Rent Review Office, showing that the rent 1987, To apply to rent review forapprovatof =e -- = a 1987 rent increase above the 5.2 per cent (Guideline. If the landlord applies to rent review, tenants will receive a copy of the application and be given a full opportunity to participate in the rent review process. : If the landlord does not apply to rent review and the time périod for doing so expires. the landlord must rebate the difference between 5.2 per cent and the higher amount charged during 1987. through rent review. : increases were justified. Ministry Under no circumstances should tenants: e Landlords who apply to justify these rent. of / make immediate deductions from their rent increases must give a copy of their application i cheques because an illegal deduction could lead to all of their tenants within 10 days of apply- Housing \ ing. Tenants are entitled to examine all the materials filed and to make submissions to the local Rent Review Office. e Landlords who do not apply to rent review on or before March 2, 1987, must rebate excess rents charged to tenants between August 1, 1985, and December 31, 1986. © to eviction by the Courts. Ontario Hon. Alvin Curling, Minister a 3 3 iN - For more information, call toll-free 1-800-387-9060, or phone your local Rent Review Office: \ Barrie (705) 737-2111 Ottawa (613) 230-5114 METROPOLITAN TORONTO _ Hamilton (416) 528-8701 Owen Sound (519) 376-3202 City of Toronto (416) 964-8281 Kingston - (613) 548-6770 Peterborough (705) 743-9511 Isat York (416) 429-0664 Kitchener (519) 579-5790 St. Catharines (416) 684-6562 Itobicoke N London (519) 673-1660 Sudbury (705) 675-4373 and York (416) 236-2681 Mississaugh (416) 270-3280 Thunder Bay (807) 475-1595 North York ~~ (416) 224-7643 North Bay ~~ (705) 476-1231 Timmins - (705) 264-9555 Scarborough (416) 438-3452 Oshawa (416) 723-8135 Windsor © (519) 253-3532 . t