THUNDER BAY – The District of Thunder Bay Social Services Administration Board (TBDSSAB) has announced that it has finalized the transfer of assets of the Thunder Bay District Housing Corporation (TBDHC) to the TBDSSAB.
The TBDHC is a subsidiary of TBDSSAB with a social housing portfolio of over 2,500 units across the District of Thunder Bay.
The board states in a media release, “With the assets now fully transferred, the TBDSSAB will realize cost savings from lower audit and insurance costs, and in general, administrative efficiencies resulting from the elimination of duplicate systems. Aside from the benefits of a more streamlined corporate structure, it is expected that the single TBDSSAB brand for payments, on forms, letterhead and on vehicles will help reduce confusion and limit unnecessary complexities. There will be no change in services or support to the tenants as a result of the property transfer”.
The TBDHC was incorporated under the Ontario Business Corporations Act on January 1, 2001 with the TBDSSAB as the sole shareholder. All staff and assets of the Ontario Housing Corporation (OHC) located in the District of Thunder Bay were transferred into the new Corporation by Ontario on that date.
The TBDSSAB became the owner of Thunder Bay Community Housing (TBCH) in September of 2005 and the TBCH was amalgamated with the TBDHC effective January 1, 2006. The employees of the amalgamated TBDHC became direct employees of the TBDSSAB in April of 2010. Effective January 1, 2016, all assets from the TBDHC were transferred to the TBDSSAB.
“With the final step of the process that the Board began in 2005 to consolidate the governance and assets of its Corporate bodies, we can look forward not only to streamlined and efficient administration but also to a clearer, more integrated TBDSSAB brand,” said Bob Katajamaki, Board Chair.
Bill Bradica, Chief Administrative Officer “Ultimately this will only enhance our ability to serve our clients in the District of Thunder Bay in an equitable and cost-effective manner.”