Item - 2014.EX44.14

The Executive Committee directed that:

1.         The City Divisions responsible for Parks, Forestry and Recreation, Affordable Housing, Transportation, Transit, Water, Culture, Health, and Social Development give consideration to identifying and including coordinated capital investments, within the 10 year Capital Plan, in the Mimico-by-the-Lake Secondary Plan area that will act as a catalyst to attract private investment into the Secondary Plan area.

2.         Staff from the Affordable Housing Office to conduct a pilot project in the context of the City's affordable housing funding incentives and to further the pilot initiative, City staff host a charrette with local housing stakeholders in 2015 to explore rental replacement housing development opportunities and new affordable housing within the Secondary Plan area.

3.         City Planning staff, in conjunction with the Ward Councillor, as redevelopment occurs in the Mimico-by-the-Lake Secondary Plan area, secure the provision of community benefits in accordance with the community benefit priorities outlined in the Secondary Plan including: securing long term rental housing and affordable rental housing; tenant relocation provisions; expansions to public parks; new or expanded community services including library, day care facilities and community service space; and public art.

4.         The Deputy City Manager and Chief Financial Officer to report back in 2015 on the feasibility of deferring development charges for any new purpose built rental units, as part of the development charges review currently underway.

This report identifies options and actions the City could undertake to support the implementation of the new planning framework for the Mimico 20/20 Revitalization Study.  The new planning framework is the Council adopted Mimico-by-the-Lake Secondary Plan area.

The Council adopted Mimico-by-the-Lake Secondary Plan provides the policy framework for revitalization and change within this community over the next twenty years.  Taking advantage of its unique lakeside setting, the Secondary Plan envisions an inclusive, mixed use community that is well integrated with the surrounding neighbourhood.  The Secondary Plan provides for choice in terms of mobility, work, shopping and recreational opportunities as well as housing in terms of built form, tenure and affordability.  A new public street structure is proposed to create new development blocks and to increase physical and visual access to Lake Ontario.

To implement the goal of revitalizing the Mimico-by-the-Lake Secondary Plan area, strategic investments must be made by the City.  There are five broad categories of actions the City could undertake to support the implementation of the new planning framework including: Financial Incentives; Tower Renewal; Housing; Parks and Open Space; and Section 37 of the Planning Act.