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CEO Update: April 2022

CEO Update: April 2022
  • New Regulatory Requirements: HSC Can Help: The new regulatory framework for community housing has just been released. Service and exit agreements will require financial plans. HSC can help.
  • Taking a Long View on Asset Management: Read about how Northumberland County and the Manitoulin-Sudbury District Services Board have built out and implemented their asset management programs.
  • Webinars: Learn about our upcoming webinar we’re putting on. about the fundamentals of affordable housing development. Learn about what’s coming up for the rest of 2022 and view past webinars.
  • Highlights from our Newsletters: Read the best of Managing Risky Business, Energy Matters and Encasa Express.
  • Comings and Goings: Sector people on the move.

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New Regulatory Requirements: HSC Can Help

As many of you will know, the new regulatory framework for community housing was recently released. We were pleased to see that HSC’s programs and services and their role in the sector were affirmed. We were also happy that the framework provided greater clarity on service and exit agreements between housing providers and Service Managers – including the terms and conditions of these agreements.

For us, it was noteworthy that the agreements will now require financial plans. HSC has worked to support the sector on addressing issues associated with the end of operating agreements (EOA) and end of mortgages (EOM). We have helped a number of Service Managers/DSSABs on their post- (EOM) strategies and are excited that long-term agreements can now start to be put in place.

If you are a Service Manager that needs assistance in developing a path forward, HSC can help. We have been offering EOA/EOM financial viability analysis services for the last 12 years. To date, we have worked with nearly 20 Service Managers/DSSABs and have provided services to undertake financial viability analysis for over 300 housing providers and their projects – with the goal of understanding the operating and capital position now, at and after the end of mortgage year.

We have also used the financial analysis to facilitate conversations between Service Managers/DSSABs and individual housing providers to discuss financial planning over the shorter and long-term.  In fact, we have worked specifically to address the key elements highlighted by the Province in O. Reg 241/22 (105.1, s. 13): 

  • Housing provider revenues and their ability to meet expenditures, particularly capital expenditures, 
  • The setting of rental rates, including those other than RGI, and
  • Long term projections of at least 5 years. 

Furthermore, the in-house financial projection tool we’ve developed to conduct scenario modelling can help you determine how best to support provider sustainability in the areas of:

  • Rental rates and structure: Modelling the current and potential rental models, including the RGI/Market mix, and potential RG I/Affordable/Market mix.
  • Affordability: Considering the impact of the RGI funding model and additional funding/subsidy opportunities, such as property tax subsidies, on the ability of the provider to generate sufficient revenue to sustain affordable operations. 
  • Underfunded capital repairs: Using AssetPlanner and/or Building Condition Audit data, we are able to include the true capital needs of each building and model how unfunded capital need can be addressed, whether through grant or loan funding. We’re also able to model if a provider is able to fund refinancing to address unfunded capital needs. 

Through our work directly with Service Managers/DSSABs and housing providers, we have been able to develop a very robust financial suite of services that can be adapted to meet your local needs. 

If you have any questions or would like further information on how HSC can support your development of financial plans, please reach out to Judy Lightbound at  

Taking a Long View on Asset Management

As we all know, taking an integrated approach on asset management is the most efficient and effective way of managing your portfolio in the long term. But what does this look like? For the past several years, HSC has partnered with Manitoulin-Sudbury District Services Board and Northumberland County, helping them take a deliberate, incremental approach to building out and implementing their asset management programs.

Both Service Managers started by implementing AssetPlanner, a software that supports asset management by provides a view on your portfolio’s current condition and its future state using baseline BCAs (building condition assessments) and pre-defined lifecycle projections. They then proceeded with initiatives to support their asset management planning. Northumberland worked with HSC to develop a social housing master plan and an asset management plan for its internal housing corporation; Manitoulin Sudbury developed a 10 Year Capital Management Plan for DSSAB assets, encompassing not only housing but also Emergency Management and administration buildings.

This work gave both Service Managers a very clear view on how they could maximize funding opportunities by lining up the procurement and completion of capital work that needed to be done at roughly the same time. As a result, when the Canada-Ontario Community Housing Initiative (COCHI) became available, both Service Managers had projects ready to go. Northumberland completed bulk procurements for elevator modernization and make-up air unit projects for its providers. Manitoulin-Sudbury used COCHI funds to replace windows last year. It is also undertaking balcony repairs on three buildings and the replacement of the main electrical switchgear of two sites this year with COCHI dollars.

Bundling these different projects together means that the consulting and contractor costs are more effectively distributed. It also makes the projects more attractive to them since it represents a larger piece of business. Similarly, Service Manager and non-profit staff save time and energy.

Do you need help with your asset management plan? HSC can help you at whatever stage you find yourself and be better prepared for the future.


Affordable Housing Development 101

May 10, 2022

12:00 PM– 1:00 PM

Sponsored by HPC Housing Investment Corporation

This HSC SHARE webinar will look at key considerations and steps to take when undertaking an affordable housing development project. Whether you’re overseeing the work in-house or working with a more seasoned developer, it’s important to understand the basics.

Featuring Graeme Hussey, President of Cahdco this session with cover:

  • Basics on how to develop affordable housing
  • Key stakeholders to engage
  • Ways to achieve financial viability
  • Examples of recently completed successful projects

Registration is coming soon! In the meantime, subscribe to our events mailing list to get announcements on upcoming events.

HSC also has a number of other webinars in the works, including sessions on:

  • HSC’s insurance claims process and program trends
  • The renewal outlook for 2022/23
  • Flood preparedness
  • Fire safety and prevention
  • Contingency planning

Past Webinars

If you missed one of our webinars, don’t worry. We have all of the material from past webinars on our website. Recordings and materials from our most recent webinars are now available:

Highlights from Our Newsletters

Energy Matters Highlights

The December issue of this newsletter featured articles on HSC and non-HSC webinars on energy and housing and sustainable building ideas. The recent March 31 issue contains the following articles:

Managing Risky Business Highlights

The next issue of Managing Risky Business will be coming out in May. Here are some of the noteworthy articles in our previous issue:

Highlights from the last Encasa Express

In early March, Encasa Financial issued a ‘state of the market’ communication focused on the recent invasion of the Ukraine and its impact on global markets. It looks at the recent news in terms of comparable historical events, putting it in a helpful context.

Comings & Goings

Since the last newsletter, we’ve seen a few changes in our sector. Hope Lee, who had previously been at the City of Kawartha Lakes and served as its housing manager for many years, came out of a brief retirement to take over as interim CEO of Peterborough Housing and is now serving on the Local Housing Corporation (LHC) Forum. Kirk Whittal, on the other hand, recently moved the other way, from serving as the Chief Operating Officer of Windsor Essex Community Housing to the Executive Director of Housing and Children’s Services at the City of Windsor and has joined our Service Manager Advisory Committee (SMAC). Lyne Labelle has shifted roles in the District of Timiskaming Social Services Administration Board (DTSSAB) moving to Children’s Services with Steve Cox now taking on the housing file. Kelly Black has moved from being the Chief Administrative Officer DTSSAB to becoming Oxford County’s Director of Human Services. Filling the CAO role at Timiskaming is Mark Stewart. Welcome Mark!

Longtime Executive Director of Centretown Citizens Ottawa Corporation (CCOC), Ray Sullivan, has moved to the Ottawa Community Land Trust becoming its first executive director. We welcome Sarah Button, who is now at the helm of CCOC. We also welcome Saide Savah who takes over in Ottawa as Director of Housing, replacing Lisa Goodfellow and has joined our SMAC. Eleanor MacDonald recently retired from the Region of Durham and as the Manager of Durham Region Local Housing Corporation. Alyssa Skan has taken over the role and has joined our Service Manager Housing Company Network. Similarly, Connor Dorey is the new housing lead at Prince Edward, Lennox and Addington, replacing recently retired Annette Keogh. At Supportive Housing of Waterloo, we welcome Brian Paul, who is building on the work of departing Executive Director Gael Gilbert. We thank Gael for her insight as a member of our Insurance Advisory Committee. We also bid farewell to Portland Place Non-Profit’s Board Member, Geoffrey Seaborn, who has moved on from our Encasa Advisory Committee, after having served as a founding member.   

Here at HSC we’d like to say goodbye to Ben Rheault (IT Manager) and Lee Jackson (Temporary Claims Support). We welcome Jason Leung (Claims Manager, Insurance and Risk) and Leo Perez (Project Manager, Technical Services). Jason comes to us from Northbridge Insurance, where he worked on a number of large accounts. Leo is a mechanical engineer and comes with a background in working with non-profit housing providers and Service Managers, having worked on projects with Houselink/Mainstay; Ottawa Community Housing; Toronto Community Housing; and the Regions of York and Peel.

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