Council reverses course on giving public funds to Hamilton renovictor
Posted September 16, 2021
Posted September 16, 2021
Hamilton, Ontario – Yesterday at Council, Councillors voted 6-5 after a closed session to reverse the vote from the General Issues Committee to approve a Tax Increment Grant to Malleum for renovations at 540 King St E.
ACORN is deeply disappointed with Hamilton Council’s decision. In our delegations & written submission we urged City Council to prioritize tenant protections and preserving existing market affordable housing stock over investor profit, increasing property tax revenue for the city and neighbourhood “revitalization” that displaces and excludes low and moderate income residents.
Over two General Issues Committees 10 ACORN members delegated urging Councillors to deny the grant to Malleum.
Since 2018 ACORN members have been speaking out about the predatory tactics Malleum uses in their buildings that leads to tenant displacement and loss of affordable housing in Hamilton.
Malleum renovicted ACORN members at 160 Sherman Ave N and 1083 Main St E and repeatedly offered low ball buyout offers to ACORN members at 41-43 Albert St. We also received complaints from 540 King St E and 293 Kenilworth Ave N. At 160 Sherman Ave N, 1083 Main St E and 41-43 Albert St tenants reported deliberate neglect of the properties during Malleum ownership.
540 King St E was an affordable rental in Hamilton but between previous ownership and Malleum the building became completely empty by June 2019. Rents went from around $800 in 2018 to starting at $1,400 (post renovations by Malleum).
(2021 rental ad)
The vote on changing the rules for future grants was ratified by Council. Applicants will be ineligible for grants at a building if there was tenant displacement.
Unfortunately it was also revealed at the meeting, Malleum has 6 other applications headed to committee for approval that the new rules would not apply too.
ACORN will continue to fight for strong local policy to restrict renoviction and stopping city funds to investment firms that are contributing to the problem needs to be part of this.
Learn more about ACORN’s municipal housing platform
Learn more about renoviction in Hamilton and local solutions
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Press:
Hamilton Spectator: Hamilton council reverses decision, awards $170,000 grant to developer