1971 Bill 45 , bib' [7 1[1 Fourth Session, 16th Legislature, :;J<D~6iH THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 45

An Act to amend The Alberta Housing Act THE MINISTER OF MUNICIPAL AFFAIRS First Reading . . . . . . . . . Second Reading Third Reading ........................... . Printed by L. S. Wall, Queen's Printer, Edmonton

BILL 4S 1971

AN ACT TO AMEN'D THE ALBERTA HOUSING ACT (Assented to , 1971) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1. The Alberta Housing Act is hereby amended. 2. The following

section is added after

section 6: 6.1.

(1) The Minister may appoint an Alberta Housing Advisory Committee consisting of one or more persons to advise the Corporation on housing and urban development or any other related matters.

(2) Members of the Committee may be remunerated by the Corporation for reasonable expenses incurred in con­ nection with attendance at meetings of the Committee.

Section 8 is amended by adding the following clause after clause 11: 12. undertake studies, research and experimentation in any field of housing or urban and regional develop­ ment or any aspect related thereto and may provide grants for any of those purposes. 4. The following

section is added after

section 9: 9.1 Notwithstanding any provision to the contrary in any other Act, debentures issued by the Corporation under

section 9 shall be deemed to be investments or securities in which funds may be invested under the following enact­ments:

section 30 of The Public Trustee Act;

section 9 of The Teachers' Retirement Fund Act;

section 67 of The Workmen's Compensation Board Act. .5.

Section 17 is amended by adding the following subsec­ twn after subsection (2):

Explanatory Notes 1. This Bill amends

chapter 17'5 of the Revised Statutes of Alberta 1970. 2. Advisory Committee on housing and uvban development.

Section 8, clause 11 presently reads: 8. In addiUon to the powers vested in a corporation by

section 14 of The Interpretati<an Act, the Corporation may: 11. carry out any of the duties and functions provided f,or by this Act and any duties and functions related to any program of housing and urban development. 4. Authorization of investments in Corporation debentures.

Section 17, subsections (1) and (2) presently read: 1!.

(1) Notwithstanding the provisions of The Financial Administ­ r~tlOn Act, the PI10vincial Treasurer shall, on the direction of the Lieutenant Governor in Council and at the request of the Corporation, advance to the Corporation out of the General Revenue Fund such sums Cot money as are required for the operational and capital costs of th~ orpora tion.

(2) At the end of the fiscal year of the Corporati<an, the Provincial Treasurer on the direction of the Lieutenant Governor in Council shall, out of the General Revenue Fund, make a grant to the Corporation equal to the deficit as shown on the audited financial statement.

(2.1) The total of the sums advanced in each year under subsection (1) for capital costs less the amount of the grant paid for that year under subsection (2) shall be repaid to the Provincial Treasurer on such terms and conditions as may be agreed upon by the Corporation and the Provincial Treasurer.

Section 23, subsection (1) is amended (

a) by adding after the words "Corporation may pay" the words "up to", (

b) by striking out the words "up to 10 per cent there­ of" and by substituting the words "the remainder of the losses that are not paid by the Canada corpora­ tion".

Section 24, subsection (3) is amended by striking out the words "with the approval of the Lieutenant Governor in Council". 8. Section, 2.9 is struck out and the following is substituted: 29.

With the approval of the Lieutenant Governor in Council and upon such conditions as he may prescribe, the Corporation and a municipality may jointly or separately guarantee the repayment of principal and interest on all or part of a borrowing made by a person for the private de­ velopment of a housing proj ect consisting of the costs of acquiring, servicing and developing the land, including a housing unit or units, undertaken either separately or in any combination thereof. 9. This Act comes into force on the day upon which it is assented to. 2

Section 23, subsection (1) presently reads: 23.

(1) When the Corporation or a municipality enters into an agree­ ment with the Canada corporation under

section 35E of the federal Act, the Corporation may pay 50 per cent of the annual operating losses and may require the municipality to pay up to 10 per cent thereof.

Section 24, subsection (3) presently reads:

(3) The Corporation with the ,approval of the Lieutenant Governor in Council may enter into agreements with non-Pflofit organizations or senior citizen foundations for (

a) the development of senior citizen housing projects, and 2 (

b) the provision of a grant towards the total capital cost of a project.

Section 29 presently reads: 29. 'With the approval of the Lieutenant Governor in Council and upon such conditions as he may prescribe, the Corporation and a municipality may jointly guarantee the repayment of principal and interest on all or part of a borrowing made by a person for the private development of a housing project. Title: 1971 (16th, 4th) Bill 45,

An Act to amend The Alberta Housing Act