Item - 2015.BU10.8

Tracking Status

This item was considered by Budget Committee on August 31, 2015 and was adopted without amendment.
See also Item EX8.25

BU10.8 - Budget Adjustment to the 2015 Approved Operating Budget for Shelter, Support and Housing Administration for Investment in Affordable Housing (Extension)

Decision Type:: ACTION

Status:: Adopted

Ward:: 7 - York West

Committee Decision

The Budget Committee recommends that:

1. City Council approve an increase of $9,275,640 gross and $0 net to the 2015 Approved Operating Budget for Shelter, Support and Housing Administration to reflect the additional provincial funding received under the Canada-Ontario Investment in Affordable Housing Extension (2014-2020) program for the Medallion Corporation 3415 Weston Road - CASA at Emery Village project (Phase Four).

Origin

(August 17, 2015) Report from the General Manager, Shelter, Support and Housing Administration and the Director, Affordable Housing Office

Summary

This report seeks approval for a budget adjustment to the 2015 Approved Operating Budget for Shelter, Support and Housing Administration (SSHA) which would increase the gross budget by $9,275,640 with a zero net impact.

The budget adjustment matches the additional funds received from the Ministry of Municipal Affairs and Housing for the Medallion Corporation 3415 Weston Road - CASA at Emery Village project (Phase Four). This is a Council approved project which is funded by the Canada-Ontario Investment in Affordable Housing Program Extension (2014 - 2020)

Background Information

(August 17, 2015) Report from the General Manager, Shelter, Support and Housing Administration and the Director, Affordable Housing Office on Budget Adjustment to the 2015 Approved Operating Budget for Shelter, Support and Housing Administration for Investment in Affordable Housing (Extension)
https://www.toronto.ca/legdocs/mmis/2015/bu/bgrd/backgroundfile-82613.pdf

Motions

1 - Motion to Adopt Item moved by Councillor Shelley Carroll (Carried)